MRI Software, KeyBank automate real estate payments

MRI Software has formed a strategic relationship with KeyBank to provide clients access to KeyTotal Pay, powered by AvidXchange™, KeyBank’s payment automation solution.

KeyTotal Pay provides real estate owners and operators the ability to eliminate paper checks, optimize vendor payments, and streamline reconciliation. Post-payment activity and ongoing vendor engagement are shifted to KeyBank, while information reporting and research are embedded within MRI’s financial management software. The KeyTotal Pay platform has a high conversion rate to electronic payments, utilizing AvidXchange’s payment network with more than 350,000 vendors and growing. Clients can also maintain their existing operating accounts, even those with other banks.

KeyTotal Pay is a complimentary service to MRI Vendor Pay, which is MRI Software’s existing payment automation solution. KeyTotal Pay and MRI Vendor Pay are both powered by AvidXchange, allowing clients that have a banking relationship with KeyBank to automate payments through KeyTotal Pay, while others can select MRI Vendor Pay. In both cases, MRI will fully support the back-end integration into the client’s financial database.

“We are incredibly excited to publicly announce this partnership,” KeyBank SVP Kevin Thole said. “Two Cleveland-based companies, heavily focused on the real estate sector, have joined forces to bring best-in-class vendor payments technology to the market. Our integration with MRI gives our clients a seamless user experience with limited change to current processes. Simply put, we are leveraging technology to automate manual, paper-intensive processes

“Our mission is to help our clients run their businesses better every day. We do so by partnering with like-minded companies that have an industry-leading technology, such as MRI Software.”

John Ensign

“This new partnership with KeyBank builds on a long-standing relationship with AvidXchange to provide additional flexibility and choice for our clients,” said John Ensign, executive vice president and general counsel for MRI Software.

“MRI users can simply select their payments from within our financial module and, instead of sending them to the printer, click a button to send them to the KeyTotal Pay network via the MRI Vendor Pay real-time integration. Clients now have the ability to enhance their relationship with KeyBank and access KeyTotal Pay through MRI’s industry-leading accounting and financial management platform.”