KeyBank announced a non-equity partnership with Aptexx, a California-based provider of payment and property management software, reported Crain‘s Jeremy Noble. The collaboration continues the Cleveland-based bank’s foray into fintech, initiated by September’s strategic partnership and minority investment in AvidXchange and another partnership with InstaMed. With much debate in the fintech industry about the future on brick and mortar banks, Keybank seems to be embracing fintech disruption and innovation and improve its banking operations.
“This partnership with Aptexx exemplifies our strategy to leverage leading-edge fintech innovations and couple them with our deep industry expertise to deliver solutions that address our clients’ specific needs,” noted Clark Khayat, group head of KeyBank Enterprise Commercial Payments, in a statement. “A simplified resident experience improves electronic payment adoption, which helps our real estate clients run their businesses better every day.”
Those familiar with KeyBank’s online banking system can look forward to Aptexx’s SaaS-based platform which integrates real estate accounting systems, allowing property managers to bring new properties online, according to the post. In other news today, US giant JP Morgan Chase partnered with fintech leader OnDeck, a strategic partnership allowing JPM will use OnDeck to provide SME loans. Watch for more strategic partnerships between brick and mortar banks and alternative finance platforms in 2016. Any predictions from the crowd?