KeyBank announced that in today's competitive homebuying environment, KeyBank?s latest digital investment in home lending is making it faster and easier for clients looking to purchase a home. KeyBank recently unveiled a digital enhancement that automates the time-consuming verification of borrowers' income, assets, and employment. Using this instant verification technology reduces the need for borrowers to gather and submit multiple pieces of documentation.

This improves the client experience by simplifying the loan process, ensuring necessary borrower information is uploaded securely into KeyBank's system, and enabling faster closing times. During a two-week pilot, KeyBank provided convenience by saving: 17 borrowers from having to provide bank statements. 36 borrowers from having to provide paystubs and tax returns to validate their income.

74 borrowers from having to verify their employment. In addition, during the pilot, approximately 2,862 minutes were eliminated from the entire mortgage application process ? helping clients get into their new homes sooner.