KeyCorp has acquired a fintech that helps borrowers manage their student loans.
The $181.2 billion-asset company said in a press release Monday that it bought GradFin, a Philadelphia company created in 2015. Key did not disclose the price it paid.
GradFin specializes in working with financial advisers and their clients.
“GradFin combines the best of digital and human interaction to create a unique client experience,” Jamie Warder, KeyCorp’s head of digital, said in the release.
“Advisers thoroughly understand the economic environment as well as the specific needs of healthcare providers, while the digital platform provides fast and effective solutions for debt relief and government forgiveness programs,” Warder added. “This approach perfectly fits Key’s commitment to seamless client interactions and provides for a best-in-class experience.”
KeyCorp bought Laurel Road’s student loan refinancing platform in 2019, eventually expanding it into a standalone digital bank that focuses on medical professionals.
The company has also bought XUP, a company that develops software tied to business-to-business payments, and data and analytics startup AQN Strategies.