Major U.S. Federal Government Entity to Standardize Using US Dataworks Solution for End-to-End Payment Processing
Thursday October 16, 9:00 am ET
HOUSTON, Oct. 16 /PRNewswire-FirstCall/ -- US Dataworks, Inc. (Amex: UDW - News), today announced that a major U.S. Federal Government entity is standardizing payment systems on the US Dataworks enterprise payments platform, Clearingworks 3.0, to process all of its paper and electronic checks. The entity, already a US Dataworks customer, is upgrading its existing Clearingworks platform and replacing other standalone payments systems. The entity will use Clearingworks 3.0 to process an estimated 300 million payments annually, with anticipated peak volumes of more than 10 million payments a day.
Clearingworks is the industry's first deployed enterprise payments platform for the end-to-end processing of any paper-based payments, electronic payments or clearing channel. The platform will provide the entity with end-to-end payments processing -- from originations to returns. Using Clearingworks 3.0, the entity will consolidate all check and electronic check payments received by its agencies, process the payments through a single platform, prepare the payments for clearing and deposit, generate electronic check presentment files, and handle all paper or electronic payment returns. In addition, US Dataworks will provide the entity with a range of professional services, including project management, testing, coordination, reporting and tracking of progress, and customization.
US Dataworks was awarded the contract after a rigorous selection process that included separate evaluations of the Company and its technology by two independent consulting firms. US Dataworks scored extremely well in both evaluations, with the product review identifying Clearingworks as the industry's only true enterprise payments platform capable of consolidating payments from multiple channels and integrating them into a single solution. The technology review recognized Clearingworks technology and scalability, stating that it positions the entity to support its future volume growth.
"Using our end-to-end payments platform, this U.S. Federal Government entity is preparing to take its payments processing to the next level," said US Dataworks President and COO Mario Villarreal. "Today's challenging economy makes it imperative that financial institutions and billers alike find new ways to reduce costs and avoid upfront capital expense further validating the need for enterprise solutions like Clearingworks."
"Clearingworks 3.0 raises the bar in the payments industry," said Yolanda Sanchez, product manager at US Dataworks. "With its enterprise platform to manage paper and electronic check payments, from origination through returns, Clearingworks is designed to enable users to react quickly to emerging processing demands, while achieving new levels of efficiency and economy."
US Dataworks will showcase Clearingworks 3.0 in its expo hall booth (No. 104) at the Association for Financial Professionals Annual Conference in Los Angeles next week. |
