Federal Reserve announces Aptys Solutions as FedNow Pilot program participate.We are excited that we’ll help the Federal Reserve develop its first major new payment system in four decades.”— Eric Dotson, EVP, Sales at Aptys Solutions
NORCROSS, GA, UNITED STATES, February 9, 2021 /EINPresswire.com/ -- Aptys Solutions, the leading provider of correspondent electronic payment processing software for community financial institutions, announced today that it has been accepted into the FedNow pilot and will be a leader in the industry’s pursuit to provide consumers and businesses with instant payment services.
The FedNow Service will deliver control, convenience, certainty, and of course…speed in payments for financial institutions eager to implement immediate payment solutions to their customers. Aptys’ faster payments solution, PayMōli – available today for faster P2P payments – is strategically positioned to provide mobile P2P payments to the end user on their mobile device. PayMōli is an easy-to-implement, brandable mobile app available for community financial institutions today.
The FedNow Service will offer an important payments infrastructure when it becomes available in 2023 or 2024. Financial institutions and their service providers will be able to use the service as a springboard to bring the benefits of safe, efficient instant payments to communities across the country.
“We are excited that we’ll help the Federal Reserve develop its first major new payment system in four decades,” said Eric Dotson, executive vice president of Aptys Solutions. “Our customers, who provide services to thousands of community financial institutions, asked us to work together to connect them and their customers to instant payments through our PayLOGICS and PayMōli systems—delivering a single solution for all payment needs.”
Aptys Solutions will help shape the FedNow Service’s features and functions, provide input into the overall user experience, ensure readiness for testing and be the first to experience the FedNow Service before its general availability. In the initial advisory phase, participant input will help to further define the service and adoption roadmap, industry readiness approaches and overall instant payments strategy.
For more information on the FedNow Pilot Program and the FedNow Service, visit FedNow.org.
About Aptys Solutions
Aptys Solutions is the leading provider of correspondent electronic payment processing software for community financial institutions. Partnering with correspondent service providers, Aptys’ payments platform processes nearly a billion ACH, check, and wire transactions annually for over 5,000 community banks and credit unions nationwide. By providing financial institutions with a unified electronic payments platform, the company helps financial institutions increase efficiencies, reduce expenses, 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.