Cleveland-based KeyBank, one of the largest banking financial services companies, recently purchased Philadelphia-based GradFin, a provider of utility loan cancellation advice.
GradFin, founded in 2015, provides solutions for people seeking help with student loan debt with an emphasis on working with financial advisors and their clients.
The purchase allows KeyBank to accelerate its growth through targeted investments in niche digital businesses. This is the company’s latest step in digital innovation through strategic partnerships with fintechs.
“GradFin combines the best of digital and human interaction to create a unique customer experience,” said Jamie Warder, chief digital officer at KeyCorp. “Advisors fully understand the economic environment as well as the specific needs of healthcare providers, while the digital platform provides fast and efficient solutions for debt relief and government forgiveness programs. This approach aligns perfectly with Key’s commitment to seamless customer interactions and delivers a top-notch experience.
GradFin CEO Chris Walters will continue to lead the GradFin team.
KeyBank’s parent company is nearly 200 years old. It offers its clients corporate and investment banking, cash management, lending and deposit products. Its network of approximately 1,000 branches and approximately 1,300 ATMs serves customers in 15 states.
As of March 31, KeyCorp’s assets were approximately $181.2 billion.