Small Business Wellness Review wins 2019 Monarch Innovation Award
Over 75,000 small businesses nationwide have used the new tool
KeyBank’s Small Business Wellness Review program has been recognized by Barlow’s Research as an Honorable Mention for the coveted 2019 Monarch Innovation Awards.
The awards annually recognize four organizations in the banking industry for products as best in class for innovation. The distinct Honorable Mention award this year went to KeyBank’s Digital Small Business Wellness Review, a patent-pending, digital tool that uses artificial intelligence and analytics to revolutionize how branch bankers and small business customers interact.
Key has always worked with clients one-on-one to provide guidance tailored to their business needs and goals. With the digital Small Business Wellness Review, Key adds an interactive, client-led approach guided by bankers, who use the results to inform conversations about the client’s best options. Key created the tool inhouse using human centered design and agile methodologies for an intuitive experience. Coupled with the skills-based training Key bankers bring to every interaction, the Small Business Wellness Review gives clients expertise and customized solutions to their specific needs and goals.
"We pride ourselves on innovative solutions, and with the Small Business Wellness Review, we’re better equipped to provide our clients with customized attention," said Justin Hunsaker, Omnichannel Originations Product Lead. "Thus far, we’ve had over 75,000 small business wellness conversations with this unique and unprecedented user experience, and we’re excited to watch that number grow."
KeyBank rolled out the program across its footprint during the summer of 2018. Retail leaders, branch managers and associate bankers had additional skills-based training to prepare to use the tool seamlessly in their conversations with clients.
"With the rollout of the digital Small Business Wellness Review, we were able to simplify a complex process for more than 3,000 branch bankers, giving them a tool them a tool to help them easily work with clients to center conversations around their present situation, future goals and the options to get them there. Our feedback from both bankers and clients has been very positive," said Cheryl Amabile Foilb, Business Banking Strategy and Execution Director.