KeyBank is one of the largest financial institutions in the country with approximately $138 billion in assets.
With a sophisticated product team and more than 10 years of experience with the PriceTek® Deposits platform, the bank had a strong analytical foundation on which to base pricing and product-management decisions. It was also an early adopter of customer-level strategies, aiming to better optimize the value exchange for customers.
As the team considered future rate moves, the franchise’s presence across many markets, and the bank’s rapidly-changing customer and competitor landscape, however, it became clear that optimization needs were being redefined. “Our existing approach was solid, but was not necessarily solving for what we saw as the emerging problems,” stated Lionel Poudevigne, Vice President, Product Management Pricing and Forecasting at KeyBank.
To scale efficiently and fulfill its mission to empower clients and communities to thrive, KeyBank set out to find the right solution to advance its
KeyBank was committed to being thorough in its search for a solution. The bank conducted a multi-step interview process, requesting numerous review sessions with each vendor, and even initiated targeted pilots with a select set of vendors to make sure they fully inspected the capabilities.
In preparation, Novantas spent considerable time studying the bank’s plan and making refinements to the PriceTek road map. “We had a big data optimization road map in motion that we gladly accelerated to address KeyBank’s objectives,” commented Lisa Brown, Managing Director and Head of PriceTek Client Services at Novantas.
KeyCorp’s roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $138.8 billion at Sept. 30, 2018.Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit www.key.com. KeyBank is Member FDIC.
Novantas, Inc. is the leader in customer science and revenue management programs for the financial industries. A FinTech 100 Company, the company’s advisory and solution services specialize in investigating and interpreting customer needs, attitudes, and behaviors, to help financial institutions refine pricing, distribution, marketing, customer strategies, and sales and service activities. Novantas’ PriceTek® is the leading deposit management platform around the globe supported by a Big Data Scenario Optimization Engine that was a Top-5 finalist in Cloudera’s Data Impact Awards (2018, 2017). For more information, visit www.novantas.com.