Catalyst News

Catalyst Corporate Continues Transition of Credit Unions to New ACHOne Platform, Training Begins

by Catalyst Corporate | Jul 27, 2020

Earlier this year, Catalyst Corporate announced an upcoming transition of its 600 ACH service users to a new, robust ACH platform, called ACHOne. This state-of-the-art system serves as a single consolidated hub for all credit union ACH needs, including origination, receipt, returns and same-day transactions. 

The transition is underway, with a target “live” date of September 28, 2020. A series of training webinars on the new platform for all current Catalyst Corporate ACH user credit unions begins Tuesday, July 28.

ACHOne was designed from the onset with top-of-the-line features to help financial institutions streamline operations and reduce costs. Among the many features and benefits are:

  • Single sign-on access through Catalyst Corporate’s TranZact portal
  • An integrated dashboard to manage all ACH activity
  • Automated FTP transfers for ACH origination, receipt and return items
  • Import options for Nacha and Excel files
  • Customizable user permissions
  • Step-by-step “wizard” guidance for easy transaction and template entry
  • Ability to schedule recurring transactions
  • Automatic email notifications
  • Powerful research capabilities with an expansive data archive of up to six years of transaction history

The innovative platform also offers six optional service modules for additional efficiencies and risk mitigation capabilities. Those modules include:

  • Warehousing for future-dated transactions
  • Anomaly detection for automated risk mitigation
  • Credit risk monitoring for business accounts
  • Active archive
  • Domestic OFAC Checking
  • International OFAC Checking

The ACHOne platform is credit union-owned and operated. In May 2020, Catalyst Corporate formed a CUSO to purchase Georgia-based Aptys Solutions, a leading provider of real-time processing and electronic payments solutions, and then, subsequently, sold a minority portion of its ownership to Alloya Corporate and Vizo Financial Corporate. Aptys Solutions will continue to operate as a stand-alone subsidiary, retaining its management team and employees. The CUSO will be governed by a board comprised of representatives from the three corporate credit unions and other future investors.

Aptys Solutions currently serves 2,800 financial institutions nationwide – correspondent service providers, bankers’ banks and corporate credit unions. Credit unions brought in by the new CUSO will expand the number of financial institutions even further. Collectively, the three corporates represent nearly 3,900 member credit unions across the country.

In addition to ACH, Aptys Solutions’ versatile consolidated payments platform includes wires, check processing and person-to-person (P2P) payments through its PayMōli app. Catalyst Corporate anticipates making the PayMōli P2P app available to credit unions later this year following the completion of the ACHOne transition.

If you haven’t already, all current Catalyst Corporate ACH users are encouraged to sign up for ACHOne transition communications – including full details on training. For more information, contact the ACH Team.