Patent-Pending US Dataworks Solution Breaks Down Barriers to Remote Deposit Capture Adoption
31 October 2008 - 12:00AM
PR Newswire (US)
HOUSTON, Oct. 30 /PRNewswire-FirstCall/ -- As part of its vision to
help customers deploy an agile enterprise payments infrastructure,
US Dataworks, Inc. (AMEX:UDW), today announced a patent-pending
distributed payments capture solution that is designed to be
significantly more efficient and cost-effective than typical remote
deposit capture products. The solution, which leverages the US
Dataworks Clearingworks
(http://www.usdataworks.com/clearingworks.html) platform, provides
a method to capture payments remotely and send the images and data
to a centralized processing system for repair, balancing, and
deposit. This approach eliminates the need for a PC to drive the
remote capture device, requires minimal hardware and software
setup, and less employee training and user interaction than other
methods of payment capture. "It's undeniable that remote capture is
playing an increasingly important role in payments processing. Our
distributed capture approach enables companies to build their
enterprise infrastructure to help them not only minimize costs and
improve employee productivity today, but also prepare them for the
electronic payments mechanisms they'll be using tomorrow," said US
Dataworks President Mario Villarreal. "With this solution, we are
realizing and expanding upon our vision to create a seamless
framework to integrate and streamline many of the costly and
time-consuming steps inherent in payments processing." Typical
remote deposit capture requires users to utilize a desktop scanner
that is connected to a PC or network. The PC must have a client or
Web-enabled interface that operators utilize to operate the desktop
scanner to capture images of the front and back of payments. While
this configuration is far more efficient than taking daily trips to
the bank to make deposits, it also introduces several potential
issues for users, including: significant upfront and ongoing
operator training; scanner interface requirements; onerous image
repair and the potential for additional errors; potential duplicate
check scanning; and the need to validate image quality. US
Dataworks believes that by delivering an innovative out-of-the-box
distributed payments capture solution, it can resolve these issues
and break down the remaining obstacles to remote deposit capture
adoption. The new solution utilizes a capture device pre-configured
with an identifier that maps to a centralized payments processing
system; operators can begin scanning as soon as the device is
connected. With this approach, users can scan retail or remittance
items directly into the capture device, without the use of a Web or
client-based interface. US Dataworks currently is evaluating
capture devices that support this approach at market acceptable
price points. As they are imaged, checks are endorsed or marked as
scanned to reduce duplicate scanning, and are temporarily stored
for research for a pre-determined time; images and data are sent to
a centralized payments processing system for automated repair and
balancing. Once image repair and balancing is completed, an
automated duplicate-item check takes place, and then an ACH, Check
21 or all-item file (for clearing/reconciliation by another system)
is created for deposit. Reports are made available via the Web from
the centralized payments system. In addition to eliminating the
requirements for a PC at the point of capture, this breakthrough
distributed-capture solution can deliver significant benefits
compared to typical remote capture: -- Reduced capture device setup
-- Reduced operator training -- No data-entry at the
point-of-capture -- Less potential of duplicate items -- Ensured
image quality -- Streamlined support for banks that offer remote
capture to their clients "Our innovative distributed capture
approach demonstrates US Dataworks' commitment to using advanced
technologies and processes to meet the requirements of our most
demanding clients and to provide maximum long-term customer value
and agility," said Yolanda Sanchez, US Dataworks product manager.
"This new solution is designed to solve the challenges that banks
and billers face with remote deposit capture and provide a much
higher return on investment." Targeted initially to billers with
multiple payment presentment points -- including retailers,
insurers and mutual funds/brokerage firms -- the US Dataworks
solution also is well suited for consumer remote deposit capture
since it doesn't require costly check scanning devices. US
Dataworks is currently looking for a beta customer for the new
distributed capture solution. For more information, e-mail . About
US Dataworks Payments automation solutions from US Dataworks help
financial institutions, businesses and government entities deploy
an enterprise payments and receivables infrastructure that
processes and manages paper-based and electronic transactions more
efficiently and with less risk. Designed to complement an
organization's legacy systems and business processes, our
enterprise payments solution delivers capabilities for payments
processing, retail payments processing, check processing, payments
decisioning, and returns management. Our agile enterprise payments
approach is particularly important as organizations migrate from
traditional paper-based payment and billing processes towards
electronic payments and straight-through processing. For more
information, visit http://www.usdataworks.com/. Except for the
historical information contained herein, the matters set forth in
this press release, including, but not limited to statements
regarding the anticipated features and benefits of our new
distribution payment capture solution, our vision for payment
processing and our new solutions' ability to provide a higher
return on investment for our clients. 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, the Company's
position in the marketplace, its ability to develop and timely
introduce products that address market demand, the impact of
alternative technological advances and competitive products, market
fluctuations and other risks detailed from time to time in the SEC
reports of US Dataworks, including its annual report on Form 10-KSB
for the period ended March 31, 2008 and its quarterly report on
Form 10-QSB for the period ended June 30, 2008. These
forward-looking statements speak only as of the date hereof. US
Dataworks disclaims any obligation to update these forward-looking
statements. CONTACTS: Mario Villarreal, President & COO Donald
C. Weinberger US Dataworks, Inc. Wolfe Axelrod Weinberger Assoc.
LLC Tel. (866) 337-5477 Tel. (212) 370-4500 Fax (212) 370-4505
DATASOURCE: US Dataworks, Inc. CONTACT: Mario Villarreal, President
& COO of US Dataworks, Inc., 1-866-337-5477; or Donald C.
Weinberger of Wolfe Axelrod Weinberger Assoc. LLC, +1-212-370-4500,
Fax, +1-212-370-4505, for US Dataworks, Inc. Web site:
http://www.usdataworks.com/
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