20 October 2017

KeyBank expands cash vault and wholesale lockbox networks

13 October 2006  |  2141 views  |  0 Source: KeyBank

KeyBank Global Treasury Management announced today the nationwide expansion of its cash vault and wholesale lockbox networks. Both networks have now increased its respective presence from regional to national.

Key's cash vault network has expanded to include more than 70 sites in 36 states, plus Washington, D.C. and Puerto Rico. The industry-leading wholesale lockbox network now consists of 12 strategically positioned sites throughout the country.

The expanded cash vault network allows clients to collect deposits at any time within the new network. The cash vault sites process both cash and checks electronically and then transmit them directly to Key for processing. This improved functionality makes Key the first bank to offer check image clearing at a cash vault location. Each cash vault site is able to support deposit processing, currency and change order preparation for the bank's clients.

Users of Key's expanded national network of wholesale lockbox processing sites will now be able to access funds sooner. Key already has a coast-to- coast presence in wholesale lockbox with processing locations in Albany, N.Y.; Cleveland; Cincinnati; and Tacoma, Wash. The enhanced network includes additional sites in the country's top processing cities including Atlanta; Chicago; Dallas; Boston; Los Angeles; Pittsburgh; and Philadelphia. Additionally, the wholesale lockbox network fully integrates into Key Total Treasury, an on-line system that allows individuals to manage treasury management functions in a secure web environment.

"The expansion of both our cash vault and wholesale lockbox networks is a testament to our commitment to serving our clients," said Annette Hazapis, director of product management, KeyBank Global Treasury Management. "This nationwide service positions us to serve our clients through more locations and to continue to strategically grow Key's presence throughout the country."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comRegister now

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15916 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
9016 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8157 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7191 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6336 views comments | 6 tweets | 3 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job