HOUSTON, Oct. 28 /PRNewswire/ -- US Dataworks, Inc. (OTC Bulletin Board and OTC Pink Sheets: UDWK), a leading provider of enterprise-class payments solutions to financial institutions, billers, and government entities, announced today that it is augmenting its flagship Clearingworks® payments processing platform with the inclusion of an integrated Payment Archive solution. Clearingworks - Payment Archive is a high-performance solution that simplifies management of enterprise payments information, reduces data storage and access costs, and addresses increasing compliance, security, and reporting requirements.
Payments operations are facing the challenge of retaining increasing amounts of information -- from an expanding array of payments channels – and complying with new regulations imposing the strictest standards yet regarding the management and safeguarding of data. By seamlessly combining Payment Archive with its flagship Clearingworks platform, US Dataworks eliminates the need for users to maintain a separate archive for payments-related images and data, while streamlining access to critical payments information. The integrated solution also eliminates information gaps created by transferring images and data from one system to another. Additionally, Payment Archive can manage images and data captured by any payments processing system, allowing users to further consolidate their legacy systems.
Unlike competing offerings that require users to purchase and install numerous hardware and software components, Payment Archive is completely integrated with Clearingworks. The basic Payment Archive module is included as part of the baseline Clearingworks installation. Clearingworks - Payment Archive can be upgraded at any time to include extended length of storage, flexible reports and Payment Analytics - US Dataworks' module for payments and operations analytics. Other upgrades include adapters to support migration of data from legacy payment systems into Clearingworks, thereby enabling Payment Archive to further simplify payment research and image retention requirements.
"Payments information is inherently difficult to manage and the challenge is growing exponentially with the addition of new payment channels, stringent compliance requirements and security regulations," commented US Dataworks Director of Product Management Leilani Doyle. "Payment Archive was especially designed to help companies meet their data retention and regulatory requirements while managing costs and maintaining service levels. By combining Payment Archive with Clearingworks, US Dataworks is helping companies achieve these goals while executing against their enterprise payments strategy and roadmap."
About US Dataworks
US Dataworks offers on-demand payment processing services with proven enterprise-class payment, deposit, returns processing, and powerful payment analytic tools. US Dataworks is a trusted payments provider to utilities, telecommunications providers, content providers, financial institutions and government agencies.
For more information, visit www.usdataworks.com.
Certain statements made in this press release (other than the historical information contained herein) constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements regarding our expectations relative to our Clearingworks-Payment Archive solution. Any forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, but not limited to, the failure of our new solution to perform as anticipated, our ability to provide long-term customer value and agility, our ability to protect our intellectual property, our position in the marketplace, our ability to develop and timely introduce products that address market demand, the impact of alternative technological advances and competitive products, market fluctuations, our ability to repay or refinance our debt, our ability to realize the anticipated benefits from our SaaS, ClearHistory and Mobile Payments initiatives, and other risks detailed from time to time in our SEC reports including our Annual Report on Form 10-K for the fiscal year ended March 31, 2010. These forward-looking statements speak only as of the date hereof. US Dataworks disclaims any obligation to update these forward-looking statements.
Donald C. Weinberger
US Dataworks, Inc.
Wolfe Axelrod Weinberger Assoc. LLC
Tel. (212) 370-4500 Fax (212) 370-4505
SOURCE US Dataworks, Inc.