Aptys Launches Common Payment Platform for Correspondent Banks
Aptys Solutions, a payments provider for correspondent institutions in the US, has launched PayHUB, a common platform to support all aspects of payment processing, including image exchange, automated clearing house (ACH) processing, wire processing, Federal Reserve messages, in-network exchange (INEX) payment processing and mobile payments, etc.
PayHUB is a multi-client, multi-tenant solution geared for rapid deployment that creates, aggregates, processes and delivers all financial institution payments. Built on Microsoft 64-bit technology, PayHUB operates in a highly secure environment, helping mitigate fraud. By streamlining the payment system, Aptys Solutions enables financial institutions to make informed decisions through the payment analytics module.
“The banking industry has grown and evolved in a compartmentalised fashion, which has resulted in a great deal of inefficiency,” said Sean Pennock, president of Aptys. “The existing methodology for processing payments and image exchange has been a fact of life for financial institutions to date. We are providing an alternate, simpler approach to handling all types of payments and image exchange while also enabling financial institutions to regain paper cheque processing revenues and drive additional revenues through correspondent banking initiatives.”