US Dataworks Signs Contract With Midwest Independent Bank to Deliver Image Clearinghouse Solution
30 September 2006 - 12:00AM
PR Newswire (US)
HOUSTON, Sept. 29 /PRNewswire-FirstCall/ -- US Dataworks, Inc.
(AMEX:UDW), a leading developer of payment processing software,
announced today that it has signed a contract with Midwest
Independent Bank to provide its industry leading Clearingworks(R)
solution. Clearingworks will allow Midwest Independent Bank (MIB)
to offer Image Cash Letter clearing services to its customers and
customers of Nebraska Bankers' Bank, NA (NBB), another subsidiary
of Midwest Independent Bancshares, Inc., reducing the service fees
these banks are currently paying to clear their paper checks and
improving funds availability. US Dataworks will begin installing
its Clearingworks platform in the calendar fourth quarter of 2006,
enabling Midwest Independent Bank to offer a full complement of
payment clearing services including Image Exchange, ACH and Remote
Deposit / Merchant Capture to its customer banks, which it will
market as Midwest Image Exchange Network (MIE.net). US Dataworks'
solution incorporates the industry-leading capabilities of the
Clearingworks Intelligent Clearing Engine (ICE) to make "Best Fit
Clearing / Least Cost Routing" decisions for all items plus the
Clearingworks Distributive Capture web-based remote capture system
to facilitate the capture of financial documents of their customer
banks and their corporate client base. "US Dataworks is very
pleased to have been selected by Midwest Independent Bank to
deliver its Clearingworks platform," said Charles Ramey, Chairman
and CEO of US Dataworks. "We believe that our Clearingworks
platform, with its broad Electronification(SM) capabilities and
unique pricing structure, offers companies an edge over other
software offerings and we are gratified to see that companies are
recognizing its advantages." "US Dataworks is a well respected
national leader in electronic payment processing. We look forward
to partnering with them as MIB begins offering its full suite of
top quality image products to the community banks in our market,"
said David Vandeven, President and Chief Executive Officer of
Midwest Independent Bank. 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 Midwest Independent Bank
MIDWEST INDEPENDENT BANK (MIB) is a "bankers' bank" which provides
a wide array of correspondent banking services to approximately 450
financial institutions throughout the Midwest. Based in Jefferson
City, Missouri, MIB's banking services are provided exclusively to
financial institutions. MIB is part of a two-bank holding company,
Midwest Independent Bancshares, Inc.
(http://www.mibancsharesinc.com/ ). Visit their website at
http://www.mibanc.com/ . Except for the historical information
contained herein, the matters set forth in this press release,
including, but not limited to, the statements regarding the belief
that Clearingworks is the industry's leading check
Electronification solution and the enabling of the Midwest
Independent Bank to offer a full complement of Image Clearinghouse,
ACH and Remote Deposit / Merchant Capture solutions 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, 2006 and its
quarterly report on Form 10-QSB/A for the period ended June 30,
2006. These forward-looking statements speak only as of the date
hereof. US Dataworks disclaims any obligation to update these
forward-looking statements. Contacts: John Figone, SVP, Business
Development US Dataworks, Inc. (713) 934-3855 Donald C.
Weinberger/Alisa Steinberg (media) Wolfe Axelrod Weinberger Assoc.
LLC Tel. (212) 370-4500 Fax (212) 370-4505 DATASOURCE: US
Dataworks, Inc. CONTACT: John Figone, SVP, Business Development of
US Dataworks, Inc., +1-713-934-3855; or media, Donald C.
Weinberger, or Alisa Steinberg, both of Wolfe Axelrod Weinberger
Assoc. LLC, +1-212-370-4500, or fax, +1-212-370-4505, for US
Dataworks, Inc. Web site: http://www.usdataworks.com/
http://www.mibancsharesinc.com/ http://www.mibanc.com/
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