With PayLOGICS' unique design, customers can take advantage of the service offered by the Federal Reserve through their SDS services and extend that benefit to respondent customers.

The settlement functionality within PayLOGICS is customizable, designed out of the box to provide the built-in flexibility for operators to adapt to today's changing payment landscape. While SDS processing is not new to the banking industry, in 2010, the Federal Reserve began offering an intraday service for certain debit transaction types including converted checks, internet and telephone transactions. NACHA is now exploring new options for expanding the SDS functionality within the NACHA rules base. As a result, FI's must start preparing today and adapting their payment systems or risk losing customers and falling behind.

SDS is representative of a broader ongoing evolution in the payment industry. PayLOGICS allows a financial institution (FI) to be agile and adaptive in responding to the shifting demands of customers. Today's economic environment requires an FI to find ways to cut costs and generate revenue from traditional payments while preparing for the changes that are quickly emerging in payments such as SDS, mobile payments, risk management, and compliance. One of the benefits of PayLOGICS is that it provides customers the ability to settle traditional transactions via the least cost method which impacts the FI's bottom line today. But just as important, it gives the FI the ability to look forward and be ready to adopt new changes as they emerge.

"Financial institutions continue to focus on generating revenue and reducing costs," said Sean Pennock, president of Aptys Solutions. "In response to industry demand, Aptys developed PayLOGICS from the ground up to include SDS functionality. By continually bridging legacy and emerging payments, we are providing financial institutions a cost-effective and efficient method of managing their payments platforms toms today and in the future."