Payment-processing platform provider Aptys Solutions had added automated clearinghouse functionality to its PayLogics processing platform, the Rockwell, Texas-based company announced Feb. 9.
With the added functionality, Aptys through PayLogics can support least-cost routing of ACH transactions. Instead of sending all ACH transactions to the Federal Reserve for clearing, PayLogics enables 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, the company noted in a Feb. 9 press release.
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 other clearing partner. Among its capabilities, Aptys’ ACH functionality includes exception-item management, automated scheduling, warehousing, returns, reversals and full origination, according to the release.
