KeyBank’s computer processing spending soars 17%

KeyBank’s cloud migration costs contributed to the increase in computing spending despite a slight decrease in total noninterest spending in the third quarter. The bank’s $187 billion total non-interest expenses, including computer processing, fell 1.4% year over year to $1.1 billion, according to the bank’s Oct. 17 third-quarter earnings report. However, computer processing costs increased by $15 million (…)