KeyCorp subsidiary KeyBank has introduced its instant payment solution with Ingo Money’s payment platform Ingo Push.

The service will enable KeyBank business clients to utilise Ingo Push in order to disburse guaranteed funds in real-time.

It will also enable KeyBank commercial clients to fulfil customer demands of immediate money by sending funds directly to their bank accounts, thereby eliminating the requirement for paper-based manual processes.

KeyBank enterprise commercial payments product and innovation head Matt Miller said: “With potential delays and security risks, it comes as no surprise that organisations are seeking ways to substitute paper-based payments with digital transactions.

“Consumers are increasingly demanding an instant experience. Our priority is to provide businesses with secure solutions that address these pain points while also streamlining processing and enhancing the consumer experience.”

The collaboration with Ingo Money forms part of KeyBank’s strategy to deliver upgraded solutions to drive the growth of clients’ businesses.

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Earlier this year, KeyBank launched a multi-channel payment platform for insurance carriers in collaboration with Snapsheet.

Ingo Money CEO Drew Edwards said: “With KeyBank, we can broaden the reach of our leading instant payment platform, transforming traditional disbursements for insurers, lenders, and any other business committed to digitising the last mile of a modern payments experience.”