Qolo, KeyBank Team Up for New Virtual Card Solution
Fintech firm Qolo has deepened its partnership with KeyBank to roll out Key Virtual Card, branded KeyVC, a new virtual commercial card program built directly into KeyBank’s existing treasury infrastructure. The announcement, made May 1, 2026, marks a significant expansion of a relationship that began when KeyBank’s Virtual Account Management platform (KeyVAM) launched in 2024.
The Qolo KeyBank virtual commercial card program gives KeyBank’s commercial clients the ability to create and manage virtual cards from within the same KeyVAM platform they already use for cash and treasury management. That integration is the central pitch: instead of toggling between separate systems for card spending and traditional payment workflows, finance teams can now handle supplier payments, reconciliation, and oversight in one unified environment.
Qolo powers the backend of the program, handling card issuance and processing, fraud monitoring, dispute resolution, and chargebacks. It is the kind of fintech-as-infrastructure play that lets an established bank like KeyBank deliver a modern card product without building the technology stack from scratch.
John Withrow, Head of Commercial Cards at KeyBank, said the expansion was driven by demand for simpler, more controlled payment options. “By expanding our partnership with Qolo, we’re making virtual cards easier to use within our existing treasury platforms, helping clients streamline accounts payable, improve visibility, and maintain better control over how and when money is spent,” he said.
Rouzbeh Rotabi, Chief Operating Officer at Qolo, framed KeyVC as a tool designed to reduce the complexity of managing multiple payment systems. “Working with KeyBank, we’ve built a virtual card solution that feels like a seamless part of the treasury environment, giving finance teams more flexibility, stronger controls, and clearer insight into their spending,” Rotabi added.
The Qolo KeyBank virtual commercial card program will be made available to clients in KeyBank’s Middle Market and Institutional Banking segments, a target audience that has been under mounting pressure to automate accounts payable and tighten spending controls heading into the second half of the decade.
The move reflects a broader trend in commercial banking where the boundary between traditional treasury services and fintech-powered payment tools is increasingly difficult to draw. For Qolo, the expanded role with KeyBank cements its positioning as infrastructure for institutional finance, not just a payment processor. For KeyBank, it is a way to compete on product depth without the timelines of in-house development.
Whether KeyVC delivers on its promise of consistent, real-time reporting across payment types will ultimately determine how sticky the offering becomes for corporate finance teams, for whom end-of-month reconciliation headaches remain a very real operational pain point.
