PLANO, Texas–Catalyst Corporate FCU said it has acquired Georgia-based Aptys Solutions, a provider of real-time processing and electronic payments solutions for correspondent service providers.
Catalyst said the addition of Aptys Solutions’ consolidated payments platform for ACH, wires, check and person-to-person payments clearly positions the corporate to be the premier provider of end-to-end, multi-channel payments for financial institutions industry wide.
“The importance of this transaction cannot be understated,” said Catalyst Corporate CEO Bruce Fox. “Technology is rapidly changing how people make payments. Financial institutions need ways to process today’s transactions more efficiently, while also positioning to provide the payments customers will need tomorrow.”
According to Catalyst, the acquisition propels the company by offering state-of-the-art services to help financial institutions industry-wide, enhancing payment services for customers through an enterprise-level solution that is designed to allow credit unions to reduce costs, automate processes and offer premier payment solutions to their customers.
“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,” Fox said.
To Become Standalone Subsidiary
Aptys Solutions will continue to operate as a standalone subsidiary of Catalyst Corporate and will continue to provide services to correspondent providers, including corporate credit unions, bankers’ banks and correspondent service providers.
“Having Catalyst Corporate backing Aptys can be a force multiplier for our growth,” said Brian Geisel, president of Aptys Solutions. “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.
“This is a game changer for the market. Financial institutions are looking for partners that have the technology, experience and scale to help them succeed, and this acquisition puts all of the pieces in place for Aptys.”
Aptys Solutions currently provides ACH and other payment services to more than 2,800 financial institutions nationwide. Catalyst Corporate said it is already in the process of transitioning its nearly 600 ACH client credit unions to the Aptys platform and will leverage Aptys’ technology to provide other enhanced services.