Bankers' Bank, one of the nation's top depositors of checks with the Federal Reserve, has signed on with Aptys Solutions, a payments network provider for financial institutions nationwide, to use the company's image exchange and Active Archive modules within PayLogics, the industry's only common platform to support all aspects of payment processing, including: image exchange, ACH processing, wire processing, payments archive, Federal Reserve messages, least cost routing, in-network exchange (INEX) payment processing and mobile payments.
Specifically, Bankers' Bank is utilizing PayLOGICS' image exchange and Active Archive components to leverage access to enterprise-wide payments data and analytics. According to bank officials, Aptys Solutions was selected for its unified payments technology that successfully bridges legacy and emerging payments, as well as its strong commitment to its customers.
"As we look to provide our customers with a greater array of payment services, partnering with Aptys was a clear choice," said Rose Davis, first vice president of Payment Systems at Bankers' Bank. "PayLOGICS encompasses all the features we needed to streamline our internal payments system as well as improve our customer service offering. We anticipate increased efficiencies as a result of our partnership with Aptys."
Bankers' Bank is one of the largest depositors of items with the Federal Reserve and manages more than two billion dollars in assets and $14 billion of custodial securities. Through the partnership with Aptys Solutions, Bankers' Bank can now offer a wider array of payment services to its more than 800 community banks. PayLOGICS requires only one set of configurations for each of Bankers' Bank's respondent institutions, streamlining system management and administration. With PayLOGICS, Bankers' Bank benefits from a solution with greater processing power that was designed in native Microsoft 64-bit technology.
"As financial institutions of all sizes strive to remain competitive, investing in a unified payments system delivers proven strategic advantages, including improved profitability and efficiencies," said Sean Pennock, president of Aptys Solutions. "We are looking forward to working closely with Bankers' Bank to develop a common infrastructure for all their payment types, which will in turn create growth opportunities for their business."
Aptys Solutions streamlines payment systems, allowing financial institutions to make informed decisions through the payment analytics module and eliminating the need for multiple vendors, which is both cost-prohibitive and labor intensive. Aptys Solutions assists financial institutions in growing revenues and attracting new customers by offering an independent, browser-based system and presenting new products and services to existing customers all while reducing costs.