SUGAR LAND, Texas, March 7, 2011 /PRNewswire/ -- US Dataworks, Inc. (OTC Bulletin Board : UDWK ), a leader in enterprise payment solutions, today announced that, at this week's BAI Payments Connect conference in Phoenix, it will showcase Clearingworks®, an enterprise-class solution that eliminates bank payment silos and extracts powerful business intelligence from the consolidated processing and long-term warehousing of all payment data and related images.
US Dataworks will be exhibiting in booth No. 221 at the BAI Payments Connect conference.
Clearingworks is a proven payments platform, currently processing more than 8,000,000 payments each business day. This integrated platform enables banks to consolidate all paper-based and electronic payment channels (including check, automated clearing house and card transactions) to facilitate the end-to-end processing and management of any transaction or return. Clearingworks is built on the four pillars of modern payment processing:
- ClearPayments - channel services for all incoming payment channels.
- ClearDeposits - complete clearing and settlement services.
- ClearReturns - integrated returns, exceptions and adjustments handling.
- ClearInsights - long-term image and data storage, research and analytics.
Aside from the purely operational benefits of Clearingworks, banks will enhance their market position over both bank and non-bank competitors.
Mario Villarreal, US Dataworks President and COO, commented, "Banks are facing profound changes in how they capture, manage, settle and store payments. The traditional approach to bank payment processing -- with siloed payments systems, processing rules, and clearing and settlement approaches -- no longer works. Our enterprise-class solutions define the new paradigm banks will use to hold their dominant position in the payment processing market."
Additionally, Leilani Doyle, Director of Product Management at US Dataworks, will participate in a panel discussion during the conference. Ms. Doyle and a panel of other industry experts will share their perspectives on key trends impacting lockbox processing. The panel is scheduled for March 9, 2011 from 8:30 a.m. to 9:30 am MST.
More information on US Dataworks and Clearingworks is available at www.usdataworks.com.
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.
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 solution, particularly as applicable to the banking industry. 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 generate enough cash flow to support our ongoing operations, our ability to realize the anticipated benefits from our SaaS, ClearHistory and Mobile Payments initiatives, the ability of our Clearingworks solution to have the anticipated benefits to, and acceptance by, the banking industry, and other risks detailed from time to time in our SEC reports including our Annual Report on Form 10-K/A (Amendment No. 2) for the fiscal year ended March 31, 2010 filed with the SEC on February 22, 2011 and our Quarterly Report on Form 10-Q for the quarter ended December 31, 2010 filed with the SEC on February 22, 2011. These forward-looking statements speak only as of the date hereof. US Dataworks disclaims any obligation to update these forward-looking statements.
Director, Product Management
US Dataworks, Inc.
SOURCE US Dataworks, Inc.