Catalyst Corporate FCU Acquires Aptys Solutions
Aptys will operate as a standalone subsidiary for Catalyst Corporate, which is already transitioning its 600 ACH client CUs to the payments platform.
Looking to leverage what it calls “state-of-the-art” payment services, Catalyst Corporate Federal Credit Union announced its acquisition of Aptys Solutions, a Norcross, Ga.-based company that offers technology to financial institutions for streamlining multi-channel payment systems.
Catalyst Corporate, a wholesale cooperative financial institution that serves more than 1,400 member and client credit unions nationwide, called the Aptys acquisition “forward-looking” in a news release. It added that Aptys’ technology provides customers with an enterprise-level solution that is designed to allow credit unions to reduce costs and automate processes. Catalyst Corporate has $3.56 billion in assets and is based in Plano, Texas.
According to Aptys’ website, the company offers a product called PayLOGICS that “simplifies electronic payment management by combining check, ACH and wire into a single, end-to-end payment suite that centralizes payment operation for all payment channels.”
“Technology has changed and improved over the past five, 10, 15 years,” Aptys noted on its site, adding that its PayLOGICS product suite “is designed in an intuitive modular approach” that “allows customers to pick and chose the functionality they need to replace without disrupting all payment channels at once.”
Bruce Fox, CEO for Catalyst Corporate said in the May 29-dated news release that “the importance of this transaction cannot be understated.” He further said that “financial institutions need ways to process today’s transactions more efficiently, while also positioning to provide the payments customers will need tomorrow.”
Moreover, Catalyst Corporate noted that it is already in the process of transitioning its nearly 600 ACH client credit unions to the Aptys platform, and that Aptys will keep operating as a standalone Catalyst subsidiary and thus will continue to provide services to its correspondent financial institution providers, including corporate credit unions, bankers’ banks and correspondent service providers.
Brian Geisel, president of Aptys Solutions, said in the same news release that “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,” he said, adding that “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.”