ROCKWALL, Texas--(BUSINESS WIRE)--Aptys Solutions, a payments network provider for financial institutions nationwide, today announced that Midwest Independent Bank (MIB), a correspondent bank headquartered in Jefferson City, MO., has converted its ACH and Wire service to Aptys’ PayLOGICS and enhanced the bank's payments services with several new solutions from Aptys. MIB is committed to nurturing customer relationships, expanding product and service capabilities, and streamlining operational efficiencies.
MIB implemented Aptys’ PayLOGICS image cash letter solution two years ago. The bank's most recent enhancements to its payments channel include the PayLOGICS ACH, Wire, OFAC, and Fed Messages modules among others. Decision factors included Aptys’ ability to automate wires end-to-end, to provide a single source for all payments, and the ability of Aptys to bring new products to market that community banks need to be competitive, all while reducing operational costs through a single infrastructure. Aptys’ PayLOGICS provides MIB ONE system to perform end-to-end processing for all aspects of payments regardless of the payment type.
“Through months of planning and coordination with Aptys, MIB was able to successfully convert 370 banks overnight without a hitch,” said Sheila Noll, executive vice president and COO of MIB. "The volume of work that goes into conversions of any kind is a huge undertaking, but having our new technology deployed in-house and managed by our own resources made this well executed conversion all that more rewarding. PayLOGICS establishes the framework through which all future payment enhancements at MIB will be managed.”
Aptys’ PayLOGICS suite offers FIs ONE system to process, originate, archive, and reconcile all payment types. PayLOGICS allows FIs to select the components they need now and add other modules in the future when existing contracts expire. FIs can work faster, smarter and more cost effectively, and embrace emerging payment types without having to retrofit them to pre-existing systems.
“Our solutions allow our customers to offer customer rich services that provide them with the edge they need to stay competitive," said Eric Dotson, executive vice president of sales at Aptys. "Being able to transition our bank customers from an archaic, fragmented set of solutions to using ONE integrated system for all of their payments needs is why we started our company in the first place. To bring them peace of mind through thorough planning, resulting in a smooth and painless conversion is icing on the cake.”
About Midwest Independent Bank
Midwest Independent Bancshares, Inc. (MIB, Inc.) is the bank holding company of Midwest Independent Bank (MIB), which is wholly owned. MIB is a “bankers’ bank” which provides a wide array of correspondent banking services to close to 550 financial institutions throughout the Midwest. MIB, based in Jefferson City, MO. MIB, Inc., also offers auditing, training and consulting services to community banks thru MIB Banc Services, LLC. and is the majority owner of First Bankers’ Banc Securities, Inc. (FBBS). FBBS offers investment products to community banks in over 25 states. For more information, visit www.mibanc.com.
About Aptys Solutions
Rockwall, Texas-based Aptys Solutions provides financial institutions with a unified platform to support all methods of payment including image exchange, ACH processing, wire processing, payments archive, Federal Reserve messages, least cost routing, in-network exchange (INEX) payment processing and mobile payments, among others. By providing financial institutions with a single point of entry for all payment solutions; Aptys helps increase overall efficiencies while reducing expenses associated with managing multiple vendor relationships. For more information, visit www.aptyssolutions.com.