KeyBank is launching a digital bank catering to the needs of physicians and dentists via it Laurel Road brand.
KeyBank says the goal of the new digital bank is to help ease the burden for doctors of paying down student debt, finding more balance between work and life, and planning for the future.
Acquired by KeyBank in 2019, Laurel Road began originating student loans in 2013 and currently provides a range of credit-based products for medical professionals including mortgages, personal loans and detb-refinancing services.
The new digital-only banking service will offer a cashback credit card, savings accounts and specialist PFM tools that will enable doctors to compare against those in similar specialties on salary and debt, and access custom insights for budgeting.
Chris Gorman, chairman and CEO of KeyCorp. "We acquired Laurel Road in 2019 with the intention of scaling this digital born business. Through this new digital bank offering we are able to provide a secure online experience and customized banking solutions to meet the special needs of physicians and dentists."