KeyBank’s cloud migration costs contributed to increased computer processing spend despite total noninterest expense slightly declining in the third quarter. 

The $187 billion bank’s total noninterest expense, which includes computer processing, fell 1.4% year over year to $1.1 billion, according to the bank’s Oct. 17 Q3 earnings release.  

Computer processing costs, however, increased $15 million year over year to $104 million, a 17% increase, amid total noninterest expenses ticking down.  

Computer processing costs include cloud migration and investment in other KeyBank platforms, a spokesperson told Bank Automation News. 

The bank planned to invest in its cloud migration strategy this year, Chief Executive Chris Gorman said during the bank’s second-quarter earnings call in July. 

So far this year, the bank has migrated more than 75 applications to Google Cloud, Amy Brady, chief information officer at KeyBank, noted in a Google Cloud blog in August 

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