KeyBank Invests In AI-Based Zentist Software For Dental Support Organizations

Cleveland-based KeyCorp, the parent company of KeyBank, has announced a strategic relationship and minority investment with Zentist, a provider of cloud-based insurance revenue cycle management (RCM) software for dental support organizations (DSOs) across the United States.

With this partnership, KeyBank will introduce Zentist’s Remit AI software to its network of DSOs, the companies said in a Wednesday (Sept. 11) press release.

“KeyBank’s commitment to delivering comprehensive financial solutions to DSOs is part of a broader healthcare strategy that involves helping clients with the whole spectrum of payments capabilities and with industry-specific financial solutions,” Jon Briggs, head of KeyBank Commercial Payments and Innovation, said in the release.

Remit AI streamlines dental insurance claims processing, according to the release. The software features automated explanation of benefits (EOB) and electronic remittance advice (ERA) delivery, automated remittance to bank data matching, and intelligent task distribution across organizational structure.

The software’s Cavi AR module streamlines claims status and follow-up workflow, andcategorizes and ranks open claims based on accounts receivable (AR) days, expected/submitted amount and last updated date, per the release.

“KeyBank is one of the most innovative banks in the country, and we’re thrilled to have them as both an investor and a new FinTech bank relationship,” Ato Kasymov, CEO of Zentist, said in the release. “This relationship will allow us to reach a wider audience and help dental groups to optimize their revenue cycles, ultimately leading to better financial health and patient care.”

In another recent product introduction, KeyBank launched a virtual account management solution for treasury management clients in May. The bank said the Key Virtual Account Management (KeyVAM) solution is designed for clients who have complex demand deposit account (DDA) structures and provides them with instant access to KeyBank commercial cash management bank accounts.

In August 2023, KeyBank added three new offerings — the Relationship program, Key Select Checking and Immediate Funds — that allow customers to earn better rates, get cash back and access deposits more quickly.

KeyBank also adopted solutions from Qolo in April 2023 to offers its business clients embedded banking solutions. With these solutions, KeyBank customers can instantly create virtual accounts and connect to underlying payment modalities.