KeyBank is now providing customers with mobile banking services through “Mobile Money” from Fiserv. With “Mobile Money,” KeyBank customers can access their accounts through SMS (text messaging) as well as receive a variety of account alerts, including notifications about low balances or transactions above a certain amount. These capabilities help customers better manage their finances. KeyBank can now reach existing online banking customers as well as the untapped market of offline-banking customers. Flexible enrollment options will help the bank expand the service to a range of users, including those that do not bank online but have a demand for easy, self-service access to financial information throughout the day. KeyBank can support mobile customers through channels, allowing the Bank to offer mobile banking to a wider group of customers than might otherwise use the service.
Fully 62% of those owning businesses with under $1 million in revenues and using Web small business banking have the same primary bank for both personal and business needs. Also 38% of Micro/SOHO owners who bank online hold a credit card with the same bank. The findings come from the new “SOHO/Micro Banker Scorecard” by Gomez. The “Scorecard” examines how the largest banks in the U.S. are serving the particular needs of owners of those small businesses with under $1 million in revenues. Bank of America took top honors in the latest survey, followed closely by Key, Fleet and Bank One. Gomez says that despite overwhelming customer demand, only four of 15 Scorecard banks offer online check imaging. Of these four, Bank of America, Bank One and UBOC only started offering online check imaging this year, while Wachovia has offered check imaging for longer. Only Key and UBOC offer an online version of the monthly statement.