Backstage with AP Technology’s Richard Love

 

Please state your name, title, company, and email address to provide to prospective partners and customers interested in receiving more information.

Richard Love. Chief Executive Officer. AP Technology. Info@APTechnology.com/.

 

How are you different than other brands in your space?

 

With over 30 years of experience, AP Technology stands out from others in the Payments industry. Our expertise in secure payment solutions has earned us the trust of major banks in America as well as thousands of businesses of all sizes, with an annual processing volume of over $120 billion. Our unparalleled proficiency in the check and cashier check payments space is a notable differentiator. AP Technology’s suite of payment solutions integrates seamlessly with key banking and accounting systems such as Core, OFAC, SSO, Messaging, and Queuing. Our track record of delivering high-quality, high-performance, and high-security services makes us the ideal payment solution provider for any bank or business. We have been protecting, organizing, processing, printing, and disbursing payments for over three decades, both in-office and remotely, giving companies a better way to pay.

How would you describe your value proposition to prospective customers and channel partners?

· AP Technology’s payment management workflows provide flexible and accessible solutions that can be easily adopted by banks and businesses of all sizes. By eliminating outdated and time-consuming check approval processes, our solutions improve efficiency, reduce errors, and streamline workflows, leading to significant cost savings. Additionally, our integration capabilities with nearly all core banking and accounting systems ensures a seamless payment experience.

· AP Technology’s products offer an automated and secure payment processing solution that meets modern security and compliance requirements. Our state-of-the-art encryption technologies, coupled with strict security protocols, ensure that all payments are processed securely and efficiently, protecting sensitive payment data. Furthermore, our solutions integrate with key third-party solutions such as OFAC, making them suitable for use by financial institutions and businesses in highly regulated industries.

What recent challenges have your company’s leadership faced and how did you overcome them?

During the pandemic, a number of AP Technology clients opted to redirect their resources and transition to remote workforces. The result was that some of our existing and new payment software deployment projects were put on hold. This might have negatively impacted other companies; however, AP Technology took advantage of this period to invest in new and improved solutions and technologies. Our Banking solutions team utilized this time to design and develop APSecure 5, which represents a significant upgrade to our existing enterprise solutions. Additionally, we launched our first B2B SAAS payments solution, Checkrun, which has been received positively by our clients. You can see Checkrun here:

https://www.aptechnology.com/checkrun-modernized-check-payments-for-quickbooks-online-users.html

What recent milestone have you achieved and why is it significant?

Surpassing the threshold of processing over $100B of payments per year during the pandemic was momentous. An increase in volume often increases risk of failures and downtime. Yet, our systems maintained, and continue to maintain the highest standards in quality and reliability, while scaling from tens of billions of dollars in payments to exceed an annual processing volume of $120 billion in a short period of time.

What near-term opportunities will 2023 present to you and your team?

Unlike other companies that are phasing out support for check issuance software, we at AP Technology are doubling down on our commitment to this area with the launch of game-changing APSecure 5 for customers with high payment volumes. With its scalability and improved check issuance capabilities, APSecure is the last check issuance software any business or bank will ever need. A number of recently signed partnerships are validation that APSecure 5 is a high-volume enterprise solution that will be in demand for years.

What’s a key trend for your industry in 2023, and why do you think it’s important?

The two most prominent areas of focus in the industry are faster and smarter payments, such as Real-Time Payments, and fraud prevention. While these topics must be addressed together, they often require opposing approaches. On one hand, there is the need for security, while on the other, there is the need for convenience. Similarly, there is a balance to be found between caution and speed. The industry will need to navigate between faster payments and greater security to determine the right balance that ensures both efficiency and protection against fraudulent activities.

For more information, visit us at https://aptechnology.com or email us at Sales@APTechnology.com, or call 800.652.2877