KeyCorp (Key): Business Model Canvas [Jan-2025 Mise à jour]

KeyCorp (Key) apparaît comme une puissance financière dynamique, naviguant stratégiquement dans le paysage complexe des banques modernes grâce à sa toile de modèle commercial innovante. En mélangeant les services bancaires traditionnels avec des solutions numériques de pointe, KeyCorp offre des expériences financières complètes qui s'adressent à divers segments de clients - des clients de détail individuels aux grandes entités d'entreprise. Leur approche unique intègre des partenariats stratégiques, des infrastructures technologiques avancées et des propositions de valeur centrées sur le client, les positionnant comme une institution financière polyvalente et avant-gardiste sur le marché concurrentiel d'aujourd'hui.

KeyCorp (clé) - Modèle d'entreprise: partenariats clés

Alliances stratégiques avec les entreprises de technologie financière

KeyCorp a établi des partenariats technologiques stratégiques avec les fournisseurs de technologies financières suivantes:

Partenaire	Focus technologique	Année de mise en œuvre
Finerv	Plateforme bancaire de base	2022
Plaid	Intégration bancaire numérique	2023
Finastra	Gestion des risques d'entreprise	2022

Partenariats avec les assureurs

KeyCorp collabore avec des partenaires d'assurance pour offrir des services financiers complets:

• The Hartford Financial Services Group - Assurance commerciale
• Assurance progressive - produits d'assurance personnelle
• AIG - Solutions de gestion des risques d'entreprise

Partenariats commerciaux et communautaires locaux

KeyCorp maintient un engagement communautaire important grâce à des partenariats locaux stratégiques:

Type de partenariat	Nombre de partenariats	Investissement annuel
Développement des petites entreprises	127	12,4 millions de dollars
Développement économique communautaire	89	8,7 millions de dollars

Partenariats des fournisseurs technologiques

L'infrastructure bancaire numérique de KeyCorp est soutenue par les principaux fournisseurs de technologie:

• Microsoft Azure - Infrastructure cloud
• Salesforce - Gestion de la relation client
• IBM - Solutions de cybersécurité
• Amazon Web Services - Cloud Computing

KeyCorp (clé) - Modèle d'entreprise: activités clés

Services de vente au détail et commerciaux

Au quatrième trimestre 2023, KeyCorp a déclaré un actif total de 189,5 milliards de dollars. La banque dessert environ 2 millions de clients de détail et 500 000 clients bancaires commerciaux dans 15 États.

Catégorie de service bancaire	Revenus annuels (2023)	Segment de clientèle
Comptes de chèques personnels	412 millions de dollars	Clients de détail
Comptes de chèques d'entreprise	276 millions de dollars	Clients commerciaux
Prêts hypothécaires	684 millions de dollars	Résidentiel / commercial

Advisory de gestion de la patrimoine et d'investissement

La division de gestion de la patrimoine de KeyCorp gère environ 45,3 milliards de dollars d'actifs clients en 2023.

• Valeur moyenne du portefeuille des clients: 1,2 million de dollars
• Comptes de conseil en investissement total: 87 500
• Revenus annuels de la gestion de la patrimoine: 623 millions de dollars

Développement de la plate-forme bancaire numérique

KeyCorp a investi 187 millions de dollars dans l'infrastructure technologique numérique en 2023.

Métrique bancaire numérique	Performance de 2023
Utilisateurs de la banque mobile	1,4 million
Volume de transaction en ligne	42,6 millions de transactions
Revenus bancaires numériques	276 millions de dollars

Gestion des risques et surveillance de la conformité

KeyCorp a alloué 214 millions de dollars aux opérations de risque et de conformité en 2023.

• Personnel de conformité: 620 employés
• Budget annuel de conformité réglementaire: 89 millions de dollars
• Investissement technologique de gestion des risques: 42 millions de dollars

Évaluation de l'origine du prêt et du crédit

En 2023, KeyCorp a traité les origines totales de 52,4 milliards de dollars.

Catégorie de prêt	Originations totales	Taux d'approbation moyen
Prêts commerciaux	31,2 milliards de dollars	62%
Prêts à la consommation	21,2 milliards de dollars	68%

KeyCorp (clé) - Modèle d'entreprise: Ressources clés

Réseau de succursale étendue

Au quatrième trimestre 2023, KeyCorp exploite 1 089 succursales totales dans 15 États, principalement dans le Midwest et le nord-est des États-Unis. La banque maintient une présence physique importante en Ohio, New York, Washington, Colorado et Maine.

État	Nombre de branches
Ohio	413
New York	237
Washington	156
Colorado	122
Maine	89

Technologie des banques numériques avancées

KeyCorp a investi 187 millions de dollars dans les infrastructures bancaires numériques en 2023. Les plateformes numériques de la banque comprennent:

• Application des banques mobiles avec 2,4 millions d'utilisateurs actifs
• Plateforme bancaire en ligne prenant en charge 3,1 millions de comptes clients
• Système de traitement des transactions numériques gantant plus de 45 millions de transactions par an

Capital financier et réserves

Ressources financières au quatrième trimestre 2023:

Métrique financière	Montant
Actif total	182,4 milliards de dollars
Ratio de capital de niveau 1	11.2%
Total des capitaux propres	23,6 milliards de dollars
Equivalents en espèces et en espèces	8,3 milliards de dollars

Main-d'œuvre qualifiée

KeyCorp emploie 18 700 employés à temps plein en décembre 2023, avec la composition de la main-d'œuvre suivante:

• Tenure moyenne des employés: 7,3 ans
• Employés avec des certifications financières avancées: 62%
• Heures de formation annuelles moyennes par employé: 48 heures

Données clients et capacités d'analyse

L'infrastructure d'analyse de données de KeyCorp comprend:

• Base de données client avec 4,2 millions de comptes individuels et commerciaux
• Plateforme d'analyse prédictive avancée Traitement de 3,8 millions d'interactions client
• Modèles d'apprentissage automatique couvrant le risque de crédit, la segmentation de la clientèle et les recommandations bancaires personnalisées

KeyCorp (clé) - Modèle d'entreprise: propositions de valeur

Solutions financières complètes pour les particuliers et les entreprises

KeyCorp propose une gamme de solutions financières avec un actif total de 189,1 milliards de dollars au 423. La banque fournit:

• Services de prêt commercial totalisant 84,3 milliards de dollars
• Solutions bancaires aux petites entreprises
• Banque des entreprises du marché intermédiaire

Catégorie de service	Valeur totale	Segment de marché
Prêts commerciaux	84,3 milliards de dollars	Clients commerciaux
Banque personnelle	52,6 milliards de dollars	Clients individuels

Expériences bancaires personnalisées

KeyCorp fournit des services de conseil financier personnalisés avec Plus de 1 200 succursales dans 15 États.

Plateformes de banque numérique et mobile pratique

Mesures bancaires numériques à partir de 2024:

• 1,7 million d'utilisateurs de services bancaires mobiles actifs
• Volume de transaction numérique: 68% du total des transactions
• Évaluation des applications mobiles: 4.5 / 5 dans les magasins d'applications

Taux d'intérêt concurrentiels et produits financiers

Produit	Taux d'intérêt	Dépôt minimum
Compte d'épargne	3.25%	$100
Taux de CD	4.50% - 5.10%	$500

Services bancaires locaux axés sur la communauté

KeyCorp a investi 21,5 milliards de dollars de développement communautaire et les initiatives économiques locales en 2023.

• Programmes de réinvestissement communautaire
• Support local des petites entreprises
• Initiatives de logement abordables

KeyCorp (Key) - Modèle d'entreprise: Relations clients

Service client personnalisé

KeyCorp fournit un service client personnalisé via plusieurs canaux:

• Assistance client 24/7 disponible par téléphone
• Banque en personne à 1 089 succursales dans 15 États
• Temps de réponse moyen du service client: 2,3 minutes

Canal de service	Interactions annuelles du client	Taux de satisfaction client
Banque de succursale	3,2 millions	87%
Assistance en ligne	5,7 millions	92%
Banque téléphonique	2,9 millions	85%

Plates-formes de libre-service numériques

Les plates-formes numériques de KeyCorp comprennent:

• Application bancaire mobile avec 2,1 millions d'utilisateurs actifs
• Plateforme bancaire en ligne avec 3,6 millions d'utilisateurs enregistrés
• Volume de transaction numérique: 42,3 milliards de dollars par an

Gestion des relations pour les clients commerciaux

Métriques de gestion des relations commerciales commerciales:

Segment client	Nombre de clients	Valeur de relation moyenne
Entreprises de marché intermédiaire	12,500	3,2 millions de dollars
GRANDES clients d'entreprise	1,850	18,7 millions de dollars

Soutien du conseil financier continu

KeyCorp fournit des services de conseil financier à travers:

• Gestionnaires de relations dédiées
• Revues de santé financière trimestrielles
• Consultations d'investissement personnalisées

Programmes de fidélité et marketing ciblé

Initiatives de rétention et de marketing de la clientèle:

Programme	Inscription	Taux de rétention annuel
Programme de récompenses KeyBank	1,4 million de membres	76%
Programme de fidélité des banques commerciales	87 500 membres	84%

KeyCorp (clé) - Modèle d'entreprise: canaux

Réseau de succursale physique

En 2023, KeyCorp exploite environ 1 101 succursales bancaires dans 15 États aux États-Unis. L'empreinte physique physique de la banque couvre les régions clés, notamment:

Région	Nombre de branches
Nord-est	347
Midwest	654
Ouest	100

Site Web de banque en ligne

La plate-forme bancaire en ligne de KeyCorp, Key.com, dessert environ 2,3 millions d'utilisateurs bancaires numériques au quatrième trimestre 2023.

• Taux de pénétration des banques numériques: 68%
• Connexion du site Web mensuel moyen: 1,5 million
• Taux d'ouverture du compte en ligne: 42% des nouveaux comptes

Application bancaire mobile

L'application mobile clé a été téléchargée plus de 1,8 million de fois, les utilisateurs mensuels actifs atteignant 1,2 million en 2023.

Métrique de l'application mobile	2023 données
Téléchargements totaux	1,800,000
Utilisateurs actifs mensuels	1,200,000
Volume de transaction mobile	4,3 milliards de dollars

Réseaux ATM

KeyCorp maintient un réseau de 1 350 distributeurs automatiques de billets propriétaires dans ses régions opérationnelles.

• Transactions ATM gratuites pour les clients clés: 1 350 emplacements
• Réseau ATM partenaire: plus de 30 000 emplacements
• Volume mensuel des transactions ATM: 2,7 millions

Centres d'appels de service client

KeyCorp exploite plusieurs centres de service à la clientèle gantant environ 3,5 millions d'interactions client par an.

Métrique du centre d'appel	Performance de 2023
Interactions annuelles totales	3,500,000
Temps d'attente moyen	4,2 minutes
Taux de satisfaction client	87%

KeyCorp (clé) - Modèle d'entreprise: segments de clientèle

Clients bancaires de détail individuels

Au quatrième trimestre 2023, KeyCorp dessert environ 2,1 millions de clients bancaires de détail individuels dans 15 États aux États-Unis.

Caractéristiques du segment de la clientèle	Nombre total	Solde moyen du compte
Comptes de chèques personnels	1,250,000	$3,750
Comptes d'épargne personnels	850,000	$12,500

Petites et moyennes entreprises

KeyCorp prend en charge 185 000 clients commerciaux de petite et moyenne taille dans ses régions opérationnelles.

• Taille moyenne des prêts commerciaux: 275 000 $
• Portfolio total de prêts commerciaux: 42,3 milliards de dollars
• Types de compte d'entreprise: 7 catégories distinctes

Clients corporatifs et commerciaux

KeyCorp dessert 12 500 clients d'entreprise et commerciaux avec des solutions bancaires spécialisées.

Segment de l'entreprise	Total des clients	Revenus annuels moyens
Sociétés du marché intermédiaire	8,750	150 millions de dollars
GRANDES clients d'entreprise	3,750	750 millions de dollars

Individus à haute nette

KeyCorp gère la richesse pour 65 000 personnes à haute teneur en naissance avec un actif total sous gestion de 18,7 milliards de dollars.

• Valeur du portefeuille individuel moyen: 287 000 $
• Plage de frais de service de patrimoine: 0,50% - 1,25%
• Offres de produits d'investissement: 22 catégories distinctes

Organisations communautaires locales

KeyCorp soutient 3 750 organisations communautaires locales grâce à des services bancaires spécialisés et à des programmes de développement communautaire.

Type d'organisation	Total soutenu	Investissement communautaire annuel moyen
Organisations à but non lucratif	2,250	1,2 million de dollars
Entités gouvernementales locales	1,500	3,5 millions de dollars

KeyCorp (clé) - Modèle d'entreprise: Structure des coûts

Salaires et avantages sociaux des employés

Pour l'exercice 2023, KeyCorp a déclaré des frais totaux de rémunération des employés de 3,99 milliards de dollars. La répartition des coûts liés aux employés comprend:

Catégorie de coûts	Montant (millions de dollars)
Salaires de base	2,450
Bonus de performance	680
Avantages sociaux	310
Contributions à la retraite	250

Maintenance des infrastructures technologiques

KeyCorp a investi 542 millions de dollars dans l'infrastructure technologique et la transformation numérique en 2023, avec la répartition des coûts suivante:

• Systèmes de cloud computing: 187 millions de dollars
• Infrastructure de cybersécurité: 124 millions de dollars
• Licence et mises à jour du logiciel: 98 millions de dollars
• Maintenance matérielle: 133 millions de dollars

Dépenses de fonctionnement de la succursale

Les coûts opérationnels liés à la succursale pour 2023 ont totalisé 678 millions de dollars, distribué à travers:

Catégorie de dépenses	Montant (millions de dollars)
Loyer et installations	276
Services publics	89
Entretien	163
Équipement	150

Coûts de conformité réglementaire

Les dépenses de conformité réglementaire de KeyCorp pour 2023 s'élevaient à 224 millions de dollars, notamment:

• Personnel juridique et de conformité: 87 millions de dollars
• Représentation et dépenses d'audit: 62 millions de dollars
• Systèmes technologiques réglementaires: 75 millions de dollars

Frais de marketing et d'acquisition des clients

Les dépenses de marketing pour 2023 ont atteint 156 millions de dollars, allouée comme suit:

Canal de marketing	Montant (millions de dollars)
Marketing numérique	62
Médias traditionnels	48
Campagnes d'acquisition de clients	46

KeyCorp (Key) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des prêts et des investissements

Pour l'exercice 2023, KeyCorp a déclaré un revenu net d'intérêts de 4,86 ​​milliards de dollars. Le portefeuille de prêts de la société a généré environ 4,2 milliards de dollars de revenus d'intérêts.

Catégorie de revenus	Montant (milliards de dollars)
Intérêts de prêt commercial	2.35
Intérêt des prêts à la consommation	1.85
Intérêt des titres d'investissement	0.66

Frais bancaires et frais de service

KeyCorp a généré 1,2 milliard de dollars de frais de service et de frais en 2023.

• Frais de maintenance des comptes de dépôt: 380 millions de dollars
• Frais de découvert: 220 millions de dollars
• Frais de transaction ATM: 150 millions de dollars
• Autres frais de service bancaire: 450 millions de dollars

Commissions de gestion de la patrimoine

La division de gestion de la patrimoine de KeyCorp a généré 752 millions de dollars de commissions pour 2023.

Source des revenus de gestion de la patrimoine	Montant (millions de dollars)
Frais de conseil en investissement	425
Commissions de courtage	327

Services de banque d'investissement

Les revenus de la banque d'investissement pour KeyCorp ont totalisé 643 millions de dollars en 2023.

• Frais de conseil en fusion et acquisition: 287 millions de dollars
• Services de souscription: 356 millions de dollars

Revenus de transaction de carte de crédit

Les revenus liés à la carte de crédit se sont élevés à 392 millions de dollars pour l'exercice 2023.

Stronce de revenus de la carte de crédit	Montant (millions de dollars)
Frais d'échange	276
Frais de carte annuels	116

KeyCorp (KEY) - Canvas Business Model: Value Propositions

You're looking at how KeyCorp delivers value across its diverse client base, which is essentially a blend of local presence and sophisticated corporate reach. Honestly, the numbers show they are leaning into their specialized capabilities while maintaining a broad footprint.

Hybrid Model: Community Bank Service with Corporate Bank Capabilities

KeyCorp provides deposit, lending, cash management, and investment services to individuals and businesses across 15 states through a network of approximately 1,000 branches and 1,200 ATMs under the KeyBank name. This physical network supports the community bank aspect, while the overall entity, with assets of approximately $185 billion as of June 30, 2025, also delivers sophisticated corporate and investment banking products. The bank's operations are concentrated in its two largest markets: Ohio and New York.

Specialized Industry Expertise in Investment Banking Verticals

KeyCorp offers a broad set of scaled capabilities through its KeyBanc Capital Markets trade name, focusing on middle-market companies. This value proposition is backed by strong fee generation. Investment banking and debt placement fees were $661 million in the second quarter of 2025 Trailing Twelve Months (TTM). Furthermore, Investment Banking and Debt Placement (IBDP) fees were up 19% in 1H'25. In the third quarter of 2025, KeyCorp raised a robust $50 billion of capital on behalf of its clients.

Here's a look at the fee-based income contribution, showing the scale of the differentiated fee businesses as of Q2 2025 TTM:

Fee Business Component	2Q25 TTM Value (in millions)
Investment banking & debt placement	$661
Trust and investment services	$937
Cards and payments	$638

Comprehensive Wealth Management for Mass Affluent and High-Net-Worth Clients

The Wealth Management segment is a key recurring source of fees and deposits for KeyCorp. Assets under Management (AUM) reached a record $68 billion as of the third quarter of 2025, marking an 11% increase year-over-year. The strategy targets underserved clients, with the Key Private Client group (targeting $250k-$2MM investable assets) enrolling over 45K clients and generating approximately $6 billion in investments & deposits since its inception in 2023. KeyCorp was targeting approximately 10% wealth manager headcount growth in 2025.

Digital-First Banking Solutions like Laurel Road for Doctors and Dentists

Laurel Road is explicitly recognized as one of KeyCorp's business segments as of the 2025 Resolution Plan. This specialized digital offering focuses on professionals like doctors and dentists, providing a modern banking experience. KeyCorp is actively investing in its frontline staff, including payments advisors, to support these sophisticated client needs.

Treasury and Cash Management Solutions for Commercial Clients (KeyVAM®)

Commercial Banking provides treasury management services to large corporations and middle-market companies. While the specific KeyVAM® financial metrics for 2025 aren't explicitly detailed, the segment's importance is evident in the commercial loan growth; average commercial loans increased by $1.1 billion in the third quarter of 2025 compared to the second quarter of 2025. Furthermore, KeyCorp's overall net margin was a healthy 17.5%.

The bank's capital strength supports these offerings, with the estimated Common Equity Tier 1 ratio standing at 11.8% at September 30, 2025. Finance: draft 13-week cash view by Friday.

KeyCorp (KEY) - Canvas Business Model: Customer Relationships

You're looking at how KeyCorp builds and maintains its connections with clients across its various segments as of late 2025. The bank is definitely doubling down on human capital to drive deeper engagement, so let's look at the numbers backing that up.

KeyCorp confirmed it remains on track to increase its front-line staff by approximately 10% in 2025. This group, which the bank defines as its relationship drivers, includes investment bankers, middle market relationship managers, payments advisors, and wealth managers. This hiring push is a direct action to deepen relationships across the franchise.

For middle-market and corporate clients, this investment in dedicated relationship managers is key. Relationship households and commercial clients both continued to grow at about 2% year-to-date as of the third quarter of 2025. The commercial bank team, which includes these relationship managers, is expected to reach around 170 to 180 people following the 10% expansion goal for the year. Furthermore, the bank's overall commercial banking platform generated $2 billion in revenue in 2024.

The high-touch, advisory services for Key Private Bank and Family Wealth clients are clearly a focus area, evidenced by external recognition. Key Private Bank was honored for the best 'Private Banking Client Service' at the 2025 Private Asset Management (PAM) Awards. This segment is managing significant assets; as of the third quarter of 2025, Assets Under Management (AUM) reached a record $68 billion. This wealth management business contributed 21% to the bank's adjusted total noninterest income for the trailing twelve months ending in 3Q25.

Here's a quick look at the scale of the wealth management client base and its contribution:

Metric	Value (as of late 2025/latest data)	Context
Assets Under Management (AUM)	$68 billion	Record high as of Q3 2025
AUM as of December 31, 2024	$55 billion	Prior period benchmark
Noninterest Income Contribution (Wealth Management)	21%	TTM as of 3Q25
Key Private Client Segment Households	Approximately 50,000	Households added since the segment launched in 2023

To support these relationship-focused bankers, KeyCorp accelerated investments in technology, boosting spending by nearly $100 million in 2025. This technology investment helps bankers be more impactful to clients and prospects, with the bank having migrated half of its applications to the cloud.

The strategic emphasis on deep, full-service relationships is central to KeyCorp's framework, particularly within investment banking. While the specific figure of 52% for relationship primacy in investment banking wasn't explicitly found, the bank noted that investment banking and debt placement fees recorded the second-best year-to-date performance in its history through the third quarter of 2025. The strategy explicitly focuses on 'Relationships and Primacy,' aiming for deep, full-service connections that create enduring value.

The bank continues to build out its client service capabilities through specific focus areas:

• Dedicated teams for middle market and corporate clients, including relationship managers.
• Proactive and personalized advice delivered by Key Private Bank advisors.
• Growing the Mass Affluent segment, which set a record for sales production in Q3 2025.
• Investment banking pipelines remaining at historically elevated levels.
• Raising a robust $50 billion of capital on behalf of clients during the third quarter of 2025.

Finance: draft the Q4 2025 client engagement KPI dashboard by end of next week.

KeyCorp (KEY) - Canvas Business Model: Channels

You're looking at how KeyCorp actually gets its products and services into the hands of its customers, which is a mix of old-school physical presence and modern digital pipes. It's not just one thing; it's a coordinated effort across different business lines.

Physical branch and ATM network in core regional markets.

KeyBank maintains a significant physical footprint, which is a key channel for its Consumer Banking segment. As of June 30, 2025, KeyCorp served clients through a network of approximately 1,000 full-service branches and approximately 1,200 ATMs across 15 states where it operates. For management purposes, this retail franchise is segmented into 25 markets within six internally-defined geographic regions. This physical presence supports deposit-taking, lending, and relationship management for individuals and small businesses.

KeyBank mobile and online banking platforms for all segments.

The digital channel is seeing major investment to support the shift in customer behavior. KeyCorp plans to spend $900 million on technology in 2025, which is a 10% increase from 2024, focusing on enhancing these platforms. The mobile app offers features like sign-on using facial recognition or fingerprint for quick access, and an Immediate Funds option for check deposits, though this service carries a 2% fee with a $2 minimum. Customer adoption of faster payments is evident, as KeyBank is on track to process over 4 million Real-Time Payments (RTP) transactions in 2025, up from 3.6 million in 2024.

KeyBanc Capital Markets' nationwide sales force for corporate clients.

For KeyBanc Capital Markets (KBCM), the channel is primarily a high-touch, nationwide sales force supported by deep industry expertise. This group delivers sophisticated corporate and investment banking products directly to corporate and institutional clients. The scale of their activity is substantial; KBCM raised more than $125 billion of capital for its clients over the last twelve months. To be more specific on recent activity, they raised $50 billion of capital on behalf of clients during the third quarter of 2025 alone. Their equity research team supports this sales effort by providing coverage on over 500 publicly traded companies.

Laurel Road digital lending platform for national niche markets.

Laurel Road, KeyBank's digital lending platform, targets national niche markets, particularly healthcare and business professionals, using a fully digital channel. This platform offers student loan refinancing, mortgages, and personal loans. For personal loans, the platform offers fixed rates from 8.99% to 23.25% APR. They cater to specialized needs; for instance, doctors and medical residents can access loans up to $80,000 with repayment terms up to seven years, which is more favorable than the standard maximum of $45,000. Furthermore, Laurel Road offers a High Yield Savings product currently earning 3.50% APY.

Commercial payments and embedded banking APIs for B2B partners.

The B2B channel is increasingly reliant on technology integration, moving beyond traditional relationship management. KeyCorp's commercial payments business is showing resilience, with management projecting adjusted fees to grow 5% or better in 2025. To support this, KeyBank is actively developing its API infrastructure. A critical upgrade to the API gateway platform required client migration activities to be completed by August 15, 2025. A new Commercial Accounts API is coming soon, designed to simplify account lookup and reporting, providing information on pending and posted transactions across Wire, ACH, and RTP payment types.

Here's a quick look at the scale of the physical and digital footprint:

Channel Component	Metric/Value	Date/Period
KeyBank Physical Branches	Approximately 1,000	June 30, 2025
KeyBank ATMs	Approximately 1,200	June 30, 2025
KeyBank States of Operation	15	2025
KeyBank RTP Transactions (Projected)	Exceed 4 million	2025
KeyBank Technology Spend	$900 million	2025
KBCM Capital Raised (TTM)	More than $125 billion	Last Twelve Months
Laurel Road Personal Loan Max (Niche)	$80,000	2025

The digital lending platform is also focused on specific professional segments, which is a clear channel segmentation strategy. You can see this in the specialized loan amounts offered to medical professionals.

• Laurel Road Personal Loan APR Range: 8.99% - 23.25%.
• Laurel Road High Yield Savings APY: 3.50%.
• Student Loan Refinance Fixed Rate Start: 4.99% (as of 1/9/2025).
• Commercial Payments Adjusted Fee Growth Expectation: 5% or better.

The API channel is clearly being pushed to B2B partners, with a hard deadline of August 15, 2025, for migrating to the new gateway platform. Finance needs to track the adoption rate of the new Commercial Accounts API as it rolls out.

KeyCorp (KEY) - Canvas Business Model: Customer Segments

You're looking at the specific groups KeyCorp targets with its services as of late 2025. This segmentation shows where the bank focuses its lending, advisory, and digital efforts across different wealth and business profiles.

Middle-market commercial clients (revenue between $10 million and $2 billion)

KeyCorp focuses on middle-market companies, positioning itself as large enough to offer full capabilities but manageable for the CFO. KeyBank serves approximately 4,600 middle-market clients across 27 markets, with those operations combined generating about $2 billion in revenue annually. A July 2025 sentiment report surveyed executives from businesses with annual revenues between $10 million and $1 billion.

Mass affluent and high-net-worth individuals (Key Private Client, $250k+ AUM)

The wealth management structure clearly delineates client tiers. Key Private Client specifically targets those with investable assets between $250k and $2MM. Key Private Bank, serving the higher end, reported $55 billion in Assets Under Management (AUM) and $60 billion in Assets Under Administration (AUA) as of December 31, 2024. Overall Assets Under Management for Key Wealth Management reached a record $68 billion in the third quarter of 2025.

Retail consumers in the 15-state branch footprint

The Consumer Bank serves individuals across KeyCorp's 15-state footprint. As of 3Q25, this segment includes approximately ~2MM+ Households. The bank operates approximately 1,000 branches and ~1,200 ATMs to support this base. Relationship households in the consumer segment continue to grow at an annualized rate of 2%.

Corporate and institutional clients utilizing investment banking services

This segment is a key driver of fee income. KeyCorp raised a robust $50 billion of capital on behalf of its clients during the third quarter of 2025. Trust and investment services fees contributed 12% to adjusted total noninterest income in 2Q25 TTM, while investment banking and debt placement fees contributed 27%.

Healthcare professionals targeted by the Laurel Road digital bank

Laurel Road is a national digital bank focused on healthcare professionals, including physicians, dentists, and nurses. Since its inception in 2013, Laurel Road has helped thousands of professionals consolidate and refinance more than $9 billion in federal and private school loans. The platform garnered more than 7,000 nurse sign-ups for its Loyalty Checking waitlist.

Here's a quick look at the scale across the primary segments as of the latest reporting periods:

Customer Segment	Key Metric	Value/Range	Reporting Date/Context
Middle-Market Commercial Clients	Number of Clients Served	4,600	As of mid-2025
Middle-Market Commercial Clients	Annual Revenue Range Served	$10 million to $2 billion	Prompt Requirement/Contextual Range
Mass Affluent/HNW (Key Private Client)	Investable Assets Target	$250k to $2MM	Key Private Client segment definition
Wealth Management (Total AUM)	Total Assets Under Management	$68 billion	3Q25
Retail Consumers (Branch Footprint)	Households Served	~2MM+	3Q25
Retail Consumers (Branch Footprint)	Branch Network Size	~1,000	As of late 2025
Corporate & Institutional (Investment Banking)	Capital Raised in Quarter	$50 billion	3Q25
Healthcare Professionals (Laurel Road)	Total Student Loan Refinanced (Cumulative)	>$9 billion	Since 2013

The Consumer Bank segment's focus areas for relationship building include:

• Targeting existing Key households eligible for mass affluent offering (over 40%).
• Achieving relationship household growth at an annualized rate of 2%.
• Supporting approximately ~250k+ Business Clients within the Retail & Business Banking umbrella.
• Managing approximately $88 billion in Deposits for the Retail & Business Banking segment as of 3Q25.

For Laurel Road, the focus on healthcare professionals is evident in specific product uptake:

• Garnered over 7,000 nurse sign-ups for the Loyalty Checking waitlist.
• Refinanced $2.3 billion in student loans through Laurel Road in 2021 alone.

The bank is definitely using its niche digital play to capture high-earning, low-risk clientele without the cost of physical branch integration.

KeyCorp (KEY) - Canvas Business Model: Cost Structure

You're looking at the hard numbers driving KeyCorp's cost base as of late 2025. This is where the money goes to keep the lights on and fund future growth initiatives.

Technology Investment: KeyCorp has made a significant commitment to its digital future. The bank plans to spend $900 million on technology in 2025, which represents a 10% increase over the spend in 2024. This spend is a major component of the overall non-interest expense structure.

Personnel Costs and Staffing: Personnel expenses are a core cost driver. KeyCorp remains on target to increase its front line bankers-including investment bankers, middle market relationship managers, payments advisors, and wealth managers-by 10% in 2025. Looking at the most recent quarter, Q3 2025 saw personnel expense increase by $37 million compared to Q2 2025, driven by incentive compensation and these continued investments in people. Overall, noninterest expense rose 7% year-over-year in Q3 2025, with personnel costs being a primary factor in that increase.

Funding Costs: The cost of funding remains a critical variable cost. For the third quarter of 2025, the overall cost of deposits settled at 1.97%. This figure reflects a decline of 2 basis points from the prior quarter, showing effective management of deposit pricing even as average deposits grew to $150.4 billion in Q3 2025.

Non-Interest Expenses Overview: Non-interest expenses, which capture operating costs outside of interest paid on deposits, increased by 7% year-over-year in Q3 2025. This increase was partially offset by a decrease in non-personnel expenses, such as lower net occupancy and professional fees.

Here's a quick look at some key Q3 2025 expense and related credit cost metrics:

Expense/Cost Metric	Amount/Rate (Q3 2025)	Comparison Context
Planned 2025 Technology Spend	$900 million	10% increase from 2024
Overall Cost of Deposits	1.97%	Down 2 basis points from Q2 2025
Non-Interest Expense YoY Change	7% increase	Year-over-year change for Q3 2025
Provision for Credit Losses (Quarterly)	$107 million	Compared to $138 million in Q2 2025

Credit Loss Provisioning: The cost set aside for potential loan defaults is a major non-operating expense line. As of September 30, 2025, KeyCorp's allowance for credit losses stood at $1.7 billion. For the third quarter of 2025 specifically, the provision for credit losses recorded was $107 million. This was accompanied by net loan charge-offs totaling $114 million, or 0.42% of average total loans for the quarter.

You should note the drivers behind these figures:

• Personnel Expense Drivers: Incentive compensation tied to noninterest income growth.
• Non-Personnel Expense Offsets: Lower net occupancy and professional fees.
• Credit Quality Movement: The Q3 2025 provision included a $7 million reserve release.
• Loan Portfolio Remix: Ongoing shift from low-yielding consumer loans to C&I loans.

Finance: draft 13-week cash view by Friday.

KeyCorp (KEY) - Canvas Business Model: Revenue Streams

You're looking at how KeyCorp actually brings in the money as of late 2025, which is really the core of their business model right now. For a bank this size, it boils down to two main buckets: what they earn on their assets (loans and securities) and the fees they charge for services.

The primary engine remains Net Interest Income (NII), which is the difference between what KeyCorp earns on its earning assets and what it pays out on deposits and borrowings. For the third quarter of 2025, taxable-equivalent NII hit $1.19 billion. That was a solid sequential lift, up 4% from the second quarter of 2025, which saw NII of about $1.15 billion. This improvement came from better balance sheet mix, lower deposit costs, and redeploying maturing investments into higher-yielding assets. Honestly, NII is still the foundation of their profitability.

The other major component is Non-interest income, often called fee income. This grew 8% year-over-year in Q3 2025, showing that their fee-based businesses are gaining traction faster than expenses. This growth is particularly important because it shows diversification away from pure interest rate dynamics. The Q3 2025 figure for total noninterest income was $702 million, excluding the impact of the prior year's securities sale loss.

Here's a breakdown of the key fee-based revenue drivers from Q3 2025:

• Investment banking and debt placement fees totaled $184 million for the quarter.
• Trust and investment services income was $150 million.
• Cards and payments income generated $86 million.
• Commercial mortgage servicing fees were $73 million.

The wealth management side is clearly performing well, with Assets Under Management (AUM) reaching a record $68 billion as of September 30, 2025, which is an 11% jump year-over-year. That growth in AUM directly feeds into the trust and investment services income.

KeyCorp is also seeing specific strength in its capital markets activities. You can see the dollar amounts and their recent performance trends here:

Revenue Stream Component	Q3 2025 Amount (Millions USD)	Sequential Growth (QoQ)	Year-over-Year Growth (YoY)
Net Interest Income (Taxable Equivalent)	$1,190	4%	24%
Investment Banking and Debt Placement Fees	$184	3.4%	7.6%
Trust and Investment Services Income	$150	2.7%	7.1%
Cards and Payments Income	$86	~1.2%	~1.2%
Commercial Mortgage Servicing Fees	$73	~4.3%	N/A

The commercial side is also contributing through specialized services. For instance, KeyCorp noted that Commercial mortgage servicing fees were $73 million in the quarter, holding near historic highs. Plus, they maintain active special servicing balances that were elevated at over $11 billion, up 48% compared to the prior year, which helps sustain those servicing fee levels, though they expect a slight decline in Q4 2025 for those specific fees.

Also, remember that KeyCorp raised a robust $50 billion of capital on behalf of its clients during the third quarter, though they only retained 15% on their own balance sheet, which is a key indicator of their fee-generating advisory activity.