Aptys Solutions looks to save time and money for financial institutions worldwide via its unified payments platform, PayLOGICs. It enables a Central Bank or any service provider to perform automated domestic and international payment clearing house services. The robust software saves money with a least-cost routing option, eliminates the need for FIs to maintain multiple country- specific payment formats, and it is the only product of its kind that enables FIs to clear and settle multiple payment types through one single system. EastNets partnered with Aptys for US wire transfer


service. This strategic alliance looked to offer a managed services platform for both domestic and international wire transfers, which provides small to mid-sized FIs a new service


PayLogics technical details


First developed: 2010. Commercially available: March 2011. Origins: A generic development. Original platform: Microsoft Windows 64-bit. Current server platforms: As above. Current client platforms: Browser (IE, Firefox, Chrome). User interfaces: As above. Method of holding data: Microsoft SQL. Language written in: .NET.


PayLogics service and functionality


% of user base with full maintenance contract: 100 per cent. Annual maintenance fee: Percentage of licence fee, depending on service level agreement. Levels of support/additional services offered: 24x7 and managed services. Core functionality: ACH, wire, messages, mobile, archiving. New systems/enhancements planned: Positive pay support. Method of pricing: Price per module, plus weighted factor based on the size of the supported operation. Development, marketing or distributor partners: None.


Uptake and customer experiences


Aptys claimed to be ‘loosely in talks’ with a number of organisations around the time of its launch and its first business came from Iowa-based Bridge Community Bank in the second half of 2010. This small retail bank became involved in a pilot scheme run by Nacha (the US electronic payments association) thanks to its chairman, Bob Steen, who was also a Nacha board member. The purpose of the pilot, which started in August 2010 and was to last to the end of 2011, was to convert certain cheques automatically to ACH payments, saving on the cost of physically sending the cheque to the Federal Reserve. The cheques would have to be lower than $250 in value and also personal ones. Bridge Community Bank used PayLogics as middleware to sort through cheque images and determine,


based on the MICR line, which ones were eligible for the pilot. Steen put the prospective savings of the pilot at 90 per cent, with the cost per cheque dropping from 2.5 cents to around one quarter of a cent. He added that 70 to 80 per cent of cheques received by the bank were eligible for the pilot. Steen stated that ‘Aptys has created a solution that works very well.’ One identified problem would have been that interfacing the Aptys solution to the bank’s core processor would be costly but, in the event, this had not been necessary. ‘I don’t want to underestimate what they did, but they made it very simple for us,’ Steen explained, adding that there had been no other software targeted at banks which could do the same thing. In early 2011, Bridge Community Bank was ‘looking very closely’ at the rest of Aptys’ suite of products. The Nacha project, dubbed the Deposited Check Truncation (DCT) scheme, meant that, while Aptys’ remit from


Payment Systems & Suppliers Report | www.ibsintelligence.com 61


which integrates multiple back-office systems and offers a connection to both SWIFT and FedLine Direct networks. In addition, FIs would receive top-quality service-level conditions at a very competitive price, minimizing efforts, investment and time of FIs in migrating to a new wire system and minimizing operation costs.


Aptys tied with Cambridge Mercantile Group to offer global


wire transfer service to its customers through an integrated interface.


In May 2017, Aptys announced the release of their ACH Anomaly Detection module for their universal payments solution called PayLOGICS, that enables financial institutions to perform real-time anomaly detection within the standard ACH payment workflow.


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