Aptys adds ACH functionality to PayLogics platform payment processing platform.

Source: Aptys

Aptys Solutions, a payments network provider for financial institutions nationwide, offering the industry's only common platform to support payment processing for all electronic payment channels, announced that it has added ACH functionality to its PayLogics payment processing platform.

Through PayLOGICS, Aptys now offers the first of its kind solution for least cost routing and in-network exchange (INEX) of ACH transactions. Aptys Solutions is unique in that it allows the ability to perform least cost routing of ACH transactions and between payment channels. Rather than sending all ACH transactions to the Federal Reserve for clearing, PayLOGICS allows correspondent service providers the option to clear items within their network of banks first. This lowers transaction processing costs and provides faster, more efficient clearing services via ACH.

"As we continue to bridge the gap of legacy and emerging technology, ACH functionality is the next step in our evolution," said Sean Pennock, president of Aptys Solutions. "Aptys is driven to deliver innovative solutions that yield process efficiencies paired with revenue generation, while providing strong competitive advantages for our customers in the financial services marketplace. As financial institutions look to reduce operational costs this year, least cost routing is quickly becoming a priority."

Utilizing the ACH functionality in PayLOGICS enables financial institutions to exchange ACH items with other financial institution partners, resulting in additional savings while sending their remaining transactions to the Federal Reserve or other clearing partner. Among its capabilities, Aptys' ACH functionality includes exception item management, automated scheduling, warehousing, returns, reversals and full origination.

Because ACH and checks processed through PayLOGICS utilize the same architecture, financial institutions eliminate the need to create a new infrastructure to manage ACH payments. Aptys' services-oriented architecture allows financial institutions to validate a transaction file and conduct duplicate checkin on that same file. Through Aptys' Active Archive, financial institutions are able to store any transaction type in a single location with the ability to seato search, perform exception item management, and analyze risk across payment types, identifying and mitigating errors before they occur.

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