The payment-processing platform provider Aptys Solutions is now including an automated clearing house functionality with its PayLogics processing platform.
With the functionality, Aptys through PayLogics can support least cost routing of ACH transactions, the Rockwell, Texas, company said Wednesday.
Instead of sending all ACH transactions to the Federal Reserve for clearing, PayLogics gives correspondent service providers the option to clear items through their network of banks first, lowering processing costs and providing faster, more efficient clearing services via ACH, Aptys said.
Using 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 Fed or another clearing partner. Among its capabilities, Aptys' ACH functionality includes exception-item management, automated scheduling, warehousing, returns, reversals and full origination.