KeyBank gets ROI in < 2 years by outsourcing 60% of their vault operations to Loomis.
When KeyBank found they were getting client Request for Proposals (RFPs) for areas where they lacked presence, they struggled to compete with other bids. While partnerships with cash-handling companies to set up satellite sites for certain clients were a stopgap solution, the results were problematic. Low volume made their costs high, and made it difficult to be competitive. KeyBank needed a competitive way to deliver a client-oriented solution model.
Loomis U.S. partnered with KeyBank to outsource cash vaults, expand their footprint, and improve consistency in the client experience. Through this partnership, KeyBank was able to standardize pricing structures by taking advantage of the variable cost model Loomis provided. KeyBank identified Loomis as the ideal partner on the vault side and with Cash in Transit.
“KeyBank feels Loomis is a great partner in the vault and transportation space focusing on the client experience,” stated Dominic Cugini, Director and Senior Vice President of Payment and Deposit Operations at KeyBank. “And if you don’t trust your partner, you don’t have the right partner.”