Aptys Solutions, a payments network provider for financial institutions in the US, has launched Active Archive solution, which eliminates payment channel silos and enables financial institutions to manage all payments information in a single location.
Active Archive provides interactive capabilities that simplify the archiving process, reduce a financial institution’s operational costs and decrease payment risk and fraud. The solution optimizes the management of information from any payment channel while meeting compliance and reporting requirements, claims Aptys Solutions.
Active Archive allows financial institutions to consolidate payment archives and is constructed to manage information across an enterprise. By merging all payments data, the solution enables financial institutions to pull both correspondent and respondent payment analytics.
The unique design of Active Archive integrates with existing payment systems, fulfills all compliance and reporting requirements and is compatible with any transaction type including X9.37, ACH and wires.
Active Archive is built using Microsoft 64-bit technology, which optimizes search performance and stores and supports extensive volumes of data for unlimited lengths of time. Operating through a single, common channel also allows financial institutions to conduct research and track, trace and return or adjust checks.
Sean Pennock, president of Aptys Solutions, said: “Aptys Solutions is committed to delivering solutions that create simplicity and efficiency in payments processing. With Active Archive, we have developed an interactive approach to data management that delivers a common archive for all payment channels.”