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KeyBank National Association Closes Acquisition of HelloWallet® From Morningstar, Inc.

Company Release - 7/3/2017 8:00 AM ET

CLEVELAND, July 3, 2017 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced it has closed the acquisition of HelloWallet®, an industry-leading personal finance software platform, from Morningstar, Inc. The strategic acquisition means KeyBank can do even more to support clients' financial wellness, including business clients that offer employees Key@Work, KeyBank's comprehensive workplace program.

KeyBank (PRNewsFoto/KeyCorp)

The HelloWallet platform provides clients with tools that can help them make more confident financial decisions. The platform provides KeyBank with a deep understanding of each individual client's financial circumstances and goals that drive every interaction with clients.

"Adding the talented HelloWallet team to KeyBank enables us to do even more to help more clients," said Dennis Devine, co-president, KeyBank Community Bank and head of Key Consumer and Business Banking segment.

"We've seen the difference our financial wellness initiative makes every day for our retail bank clients, helping them understand their finances and enabling them to make more confident financial decisions. We believe financial wellness can make the same difference for our business client's employees, and we will make financial wellness the centerpiece of our already strong Key@Work program," he said.

Financial terms of the transaction were not disclosed. KeyBank was advised by KeyBanc Capital Markets.

About KeyCorp:

KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $134.5 billion at March 31, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "outlook," "goal," "objective," "plan," "expect," "anticipate," "intend," "project," "believe," "estimate" and other words of similar meaning. Forward-looking statements represent management's current expectations and forecasts regarding future events. If underlying assumptions prove to be inaccurate or unknown risks or uncertainties arise, actual results could vary materially from these projections or expectations. Factors that could cause Key's actual results to differ from those described in the forward-looking statements can be found in KeyCorp's Form 10-K for the year ended December 31, 2016, as well as in KeyCorp's subsequent SEC filings, all of which have been filed with the Securities and Exchange Commission and are available on Key's website (www.key.com/ir) and on the Securities and Exchange Commission's website (www.sec.gov). Forward looking statements speak only as of the date they are made and Key does not undertake any obligation to update the forward-looking statements to reflect new information or future events.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/keybank-national-association-closes-acquisition-of-hellowallet-from-morningstar-inc-300482724.html

SOURCE KeyCorp