US Dataworks Enters Into Agreement With Union Bank of California to Offer Check Processing Solutions
15 June 2005 - 9:00PM
PR Newswire (US)
US Dataworks Enters Into Agreement With Union Bank of California to
Offer Check Processing Solutions HOUSTON, June 15
/PRNewswire-FirstCall/ -- US Dataworks, Inc. (AMEX:UDW), a leading
developer of payment processing software, announced today that it
has entered into a strategic alliance agreement with Union Bank of
California, N.A., the fourth-largest commercial bank in California,
one of the 25 largest banks in the United States, and primary
subsidiary of UnionBanCal (NYSE:UB), to jointly offer the
best-of-breed payment processing solutions to the market. Among the
offerings are US Dataworks' Clearingworks(TM), a comprehensive,
fully-automated solution enabling the end-to-end processing of
checks through the Automated Clearing House (ACH) as well as image
exchange/substitute check processing (Check21), and US Dataworks'
recently released Distributive Capture functionality, which allows
remote and real-time access to retrieve payment data regularly from
an unlimited number of remote locations. This alliance is the third
in a series of its kind for US Dataworks. The company has entered
into similar alliances with two other large financial institutions.
Through their alliances with US Dataworks, these financial
institutions are able to offer billers and retailers payment
processing solutions that enable them to covert paper checks into
electronic transactions. "Our customers are looking for innovative
solutions to check payment processing," said Homa Alviri, Vice
President, Commercial Product Management and Development, Union
Bank. "Union Bank is pleased to join forces with US Dataworks to
compliment our current customer offerings with the best and most
advanced check processing solutions." "We are honored to have our
state-of-the-art check processing solutions added to Union Bank's
already impressive portfolio of services," said Charles Ramey,
Chairman and CEO, US Dataworks. "Our alliance with Union Bank is
further evidence that US Dataworks is creating a niche for itself
with astute financial service firms that are positioned to offer
their clients premium payment processing solutions." Recent changes
in the National Automated Clearing House (NACHA) rules coupled with
the passage into law of Check-21 now make it possible for banks,
retailers and billers to electronically process paper checks and
other forms of payments. The transition to electronic processing is
expected to create greater efficiencies and immediate cost savings
for the retail and remittance industries. About US Dataworks US
Dataworks is a developer of payment processing solutions, focused
on the financial services market, federal, state and local
governments, billers and retailers. Software developed by US
Dataworks is designed to enable organizations to transition from
traditional paper-based payment and billing processes to electronic
solutions that automate end-to-end processes for accepting and
clearing checks. For more information, visit the company's website
at http://www.usdataworks.com/ . About Union Bank of California,
N.A. San Francisco-based UnionBanCal Corporation is a bank holding
company. Its primary subsidiary is Union Bank of California, N.A.,
one of the 25 largest commercial banks in the country, based on
assets at March 31, 2005. Union Bank provides a comprehensive array
of personal and commercial financial products and services to
individuals, businesses and government agencies, and is
differentiated from its competitors by providing personalized,
high-quality and responsive service. Except for the historical
information contained herein, the matters set forth in this press
release, including, but not limited to the statements regarding the
growth and potential for the ARC market and the effect capital
investment may have of a company's adoption of an ARC solution are
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially,
including, but not limited to, the Company's 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 obtain future financing and other risks detailed from time to
time in the SEC reports of US Dataworks, Inc., including its annual
report on Form 10-KSB/A for the period ended March 31, 2004 and its
quarterly report on Form 10-QSB/A for the period ended December 31,
2004. These forward-looking statements speak only as of the date
hereof. US Dataworks disclaims any obligation to update these
forward-looking statements. For more information, contact: John
Figone - US Dataworks (713) 934-3855 ext. 250 Terrie James - media
contact (713) 412-2052 Ken Dennard - investor contact (713)
529-6600 DATASOURCE: US Dataworks, Inc. CONTACT: John Figone of US
Dataworks, Inc., +1-713-934-3855, ext. 250; or media, Terrie James,
+1-713-412-2052, or ; or investors, Ken Dennard, +1-713-529-6600,
or , both for US Dataworks Web site: http://www.usdataworks.com/
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