PLANO, TX, May 3, 2023-- Aptys Solutions, a leading provider of cloud-based, end-to-end, digital payment solutions to over 5,500 financial institutions including faster and mobile payments, international and domestic wires, ACH, and image cash letter, announced today that it is one of the first fintech leaders to receive the FedNow Service certification, the requirement by the Federal Reserve Bank to ensure that participating organizations are meeting all defined expectations and ready to offer the FedNow Service.
The Federal Reserve Bank is planning to launch its instant payment service, FedNow, this July. Most financial institutions across the U.S. believe that real-time payments will revolutionize money movement and the way transactions are conducted in the industry. They see new and exciting opportunities with the FedNow Service for their organizations, and their business and consumer clients. Financial institutions are assessing their systems, technology infrastructure, processes, and plans to determine the impact on their operations and business, client experience, and real-time integration between their account processing vendor and their choice of real-time payments provider to process transactions 24x7x365.
The FedNow Service from Aptys is a SaaS and IaaS solution hosted at Amazon Web Services (AWS) for maximum security and ease of deployment. Aptys offers the latest technology and architecture including RESTful APIs to simplify integration with account processing systems and other 3rd party products. The FedNow Service is now added to Aptys’ single, end-to-end payments platform for added convenience and enhanced user experience that allows management of all payment types through a single platform.
“The FedNow Service certification is an integral part of our instant payment strategy to offer the industry’s leading payment services to our customers and all financial institutions in the U.S. With the completion of this critical milestone we can now focus our efforts on Alpha and Beta testing with our bank and credit union partners.” said Eugene Yankevich, CTO at Aptys Solutions. “I believe Aptys’ approach to delivering a gateway connectivity will open the door for thousands of financial institutions to expand their offerings to include faster payments.”
“Given how critical the FedNow Service is for the future of banking, we are grateful to have partnered closely with our clients and the Federal Reserve Bank to develop this market changing offering,” said Naseer Nasim, president & CEO of Aptys Solutions. “Aptys’ Instant Pay solution provides banks and credit unions a choice to offer the latest in faster payments while protecting their client data, strategic relationships with their correspondents, and the freedom to do what is best for their organizations. Our team worked diligently to be one of the first companies to receive the FedNow Service certification. I am proud of my team for this achievement and excited for our clients and our industry for the opportunities that the FedNow Service presents for them, and their customers.”
About Aptys Solutions
Aptys Solutions is the leading provider of electronic payment processing software for financial institutions. Aptys’ payments platform processes nearly a billion ACH, check, and wire transactions annually for over 5,500 community banks and credit unions nationwide. By providing financial institutions with a unified electronic payments platform, the company helps financial institutions offer differentiating payment products that increase efficiencies, reduce friction, manage compliance, and reduce risk. Aptys Solutions is dedicated to driving faster payments, streamlining operations, and creating revenue for correspondents and their customers. For more information, visit www.aptyssolutions.com and www.moli.me.