Catalyst Corporate Federal Credit Union on Friday announced its acquisition of payments-processing firm Aptys Solutions. The deal is intended to help Catastlyt provide a variety of payment solutions, including ACH, wires, checks and P2P, to financial institutions.
Aptys Solutions will function as a stand-alone subsidiary of Catalyst and continue to serve correspondent providers, including corporate CUs, bankers’ banks and other institutions.
“Aptys’ innovative product set will enable Catalyst Corporate to continue its development of industry solutions aligned with faster, real-time and instant payment solutions, including mobile, P2P and P2B,” Catalyst CEO Bruce Fox said in a press release.
Brian Geisel, president of Aptys Solutions, called the deal “a force multiplier” for the company’s growth.
“The acquisition will energize our product development and open the door to new opportunities in faster payments for our customers that Aptys couldn’t do alone,” he said.
More than 2,800 financial institutions are currently served by Aptys Solutions. Catalyst has begun transitioning the nearly 600 credit unions who use it for ACH processing onto the Aptys platform and expects to use the company’s technology to provide additional services moving forward.
