Key Bank launches KeyVC with Qolo this week
Key bank is launching its Key Virtual Card program this week with Qolo, adding a new commercial card layer to its existing treasury stack. The program lets commercial clients create and manage virtual cards inside KeyVAM, while keeping reporting and reconciliation tied to other payment tools.
John Withrow, KeyBank Head of Commercial Cards, said commercial clients are increasingly looking for simpler and more controlled ways to manage payments. By expanding the partnership with Qolo, KeyBank is making virtual cards easier to use within its existing treasury platforms, with accounts payable, visibility, and spending controls built into the same environment.
KeyVAM gets virtual cards
KeyVC is designed to help businesses manage and track payments without forcing them to move away from systems they already use. Clients will be able to use virtual cards alongside other treasury tools, with consistent reporting and simplified reconciliation across payment types.
That structure gives finance teams a single place to handle supplier payments and spending oversight inside KeyBank's Virtual Account Management platform, known as KeyVAM. The virtual card solution is intended to give those teams more flexibility, stronger controls, and clearer insight into spending.
Qolo's API model in practice
Qolo's platform combines an embedded ledger, card issuing, money movement, real-time reconciliation, and cross-rail connectivity into a single API. The company says that API-based approach is designed to let institutions deploy new payment capabilities in months rather than years, which helps explain why the new card program can sit on top of KeyBank's treasury platform instead of replacing it.
Qolo was founded in 2018, and the two firms have worked together since 2024, when they launched KeyVAM. Patricia Montesi said the broader payments stack includes ledger, card, payments, and virtual account management through one API, while Rouzbeh Rotabi said KeyVC is designed to reduce complexity and fit naturally into how businesses already operate.
What clients see next
Commercial clients now get a virtual card option inside a treasury platform they already use, rather than a separate payment tool to manage on the side. For finance teams, the practical change is tighter control over how and when money is spent, with reporting that follows the payment across tools instead of splitting into separate records.
Working with KeyBank, Qolo says it has built a virtual card solution that feels like a seamless part of the treasury environment. With the launch taking place this week, the new program gives KeyBank a more complete commercial payments offering and gives clients one more way to move supplier payments through KeyVAM.
