January 19, 2001, 12:00 AM

KeyBank Cuts Paper (Use) in Half

(www.key.com) KeyBank has implemented a solution that executives say will deliver customers better electronic bank statements over the Internet and reduce hard copy statements by 50%. Cleveland-based KeyBank combined Dallas-based (www.xenos.com) Xenos Group's Documorph software with (www.ibm.com/software/data/edmsuite) IBM's EDMSuite OnDemand. It took KeyBank more than a month to implement the software for its retail, corporate and investment banking. KeyBank averages 15 million electronic transactions a month through ATMs, telephones and Internet channels and it expects to handle more than 60% of its transactions electronically in the future.

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