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June 1, 2017

KeyCorp to buy software platform HelloWallet

KeyCorp, which operates through its subsidiary, KeyBank National Association (KeyBank), has agreed to acquire personal software platform HelloWallet from investment research firm Morningstar for an undisclosed sum.

HelloWallet will be integrated with KeyCorp’s segment, Key Community Bank, following completion of the transaction.

Nearly 36 HelloWallet staff will move to KeyBank as part of the deal, and will continue to work from Washington, DC, and Chicago.

The latest deal, which is subject to customary closing conditions, builds on KeyBank’s partnership with HelloWallet in 2015. The partnership made KeyBank the only banking institution to offer access to HelloWallet’s personal finance platform.

KeyBank Community Bank co-president and head of consumer and business Banking segment Dennis Devine said: “KeyBank is transforming our clients’ banking experience by embedding financial wellness into every interaction, whether digitally, at the branch, or via telephone.

“We are committed to keeping our clients’ financial wellness at the core of our relationship with them.”

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