Market Overview

Workiva Helps KeyBank Modernize Financial Operations


Wdesk Enables One of the Nation's Largest Bank-Based Financial
Services Companies to Address Changing Regulations with Confidence

(NYSE:WK), a leader in data collaboration, reporting and compliance
solutions, today announced that KeyBank,
a subsidiary of KeyCorp (NYSE:KEY), a Cleveland-based bank and financial
services company, is using Wdesk
to streamline accounting policies and financial processes across its

"Wdesk has been a game-changer. I use it every day in every aspect of my
work," said Stacy Gilbert, Senior Vice President and Director of
Accounting Policy at KeyBank.

Gilbert's technical accounting team maintains the bank's accounting
policies and implements new accounting standards established by the
Financial Accounting Standards Board (FASB). Most recently, her team
implemented the FASB Accounting Standards Codification Topic 606,
Revenue from Contracts with Customers (ASC 606) that require certain
companies to re-evaluate when and how they account for revenue streams.

"I spend a significant amount of time making sure the business units who
have to apply the requirements of these accounting standards understand
them and apply them appropriately," said Gilbert. "The implementation of
the ASC 606 standard was a significant effort that was made much easier
by using Wdesk."

"Wdesk lets us work collaboratively and always with the most current
information. I can assign tasks, track projects and easily share
documents and solicit comments," added Gilbert. "So for example, with
the revenue recognition standard, we had to work very closely with our
auditors. Working in Wdesk allowed us to streamline audit documentation,
testing by the auditors and the financial reporting requirements."

Gilbert's team is also focused on implementing the new FASB lease
standard, which will go into effect for public entities beginning in
2019, and the Current Expected Credit Loss (CECL) accounting standard,
which will change how financial institutions calculate allowance for
loan losses beginning in 2020. "Without Wdesk, management of all the
accounting requirements and implementation efforts of the many working
groups would be cumbersome," Gilbert said. "Wdesk documentation and
support binders give our auditors and my team confidence that we are
working with the correct numbers and can support decisions with
appropriate documentation."

Gilbert, who used Wdesk at her previous employer, said team members feel
more ownership because of the transparency throughout their end-to-end
process. "Wdesk gives teams one place to collaborate and gather large
amounts of data. In the past, that information was scattered, but now
that the analysis and supporting documentation are in one place, we are
operating much more efficiently," she said. "If a decision isn't
documented in Wdesk, then that decision never happened. It's a culture
change, but one that has been well received and easily adopted."

Gilbert says as teams were introduced to Wdesk, they found it easy to
use and powerful. "After seeing the benefits, our Chief Accounting
Officer started insisting that we work more in Wdesk," added Gilbert.
"This support helped us get more processes moved to Wdesk. Now there are
power users across multiple teams, and we have improved operating
efficiency across the bank."

About Workiva

Workiva delivers Wdesk, a leading enterprise cloud platform for data
collaboration, reporting and compliance that is used by thousands of
organizations worldwide, including over 75 percent of the Fortune 500®.
Companies of all sizes, state and local governments and educational
institutions use Wdesk to help mitigate risk, improve productivity and
gain confidence in their data-driven decisions. For more information
about Workiva (NYSE:WK), please visit

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