US Dataworks Enters Into Strategic Alliance With Top Global Financial Services Company to Offer ARC Solution
March 21 2005 - 8:36AM
PR Newswire (US)
US Dataworks Enters Into Strategic Alliance With Top Global
Financial Services Company to Offer ARC Solution HOUSTON, March 21
/PRNewswire-FirstCall/ -- US Dataworks, Inc. (AMEX:UDW), a leading
developer of payment processing software, announced today that it
has entered into a strategic marketing agreement with a leading
global financial services firm to jointly offer an Accounts
Receivable Conversion (ARC) processing solution to the market. US
Dataworks will work with the top 20 financial services firm to co-
market a comprehensive ARC solution that incorporates US Dataworks
industry- leading Clearingworks(TM) capabilities of MICR parsing,
eligibility sorting and return processing. Fees for the ARC
platform will be charged through an all inclusive per transaction
price, thus requiring virtually no up-front investment from the
end-user. This new alliance is the second of its kind for US
Dataworks. Last fall the company entered into a similar
co-marketing agreement with JPMorgan Chase after the bank launched
an ARC processing solution, developed in part by US Dataworks, that
enables retailers and billers to covert paper checks into
electronic transactions. "Having secured these two marquee
alliances, US Dataworks is establishing a niche for itself with
financial services firms that are eager to offer their clients a
fully automated end-to-end ARC solution," said Charles Ramey,
chairman and CEO of US Dataworks. Ramey added that there is a
tremendous market for US Dataworks in ARC services, especially
since the firm offers a unique pricing solution that does not
require a significant capital investment to the end-user's payment
operations. "With little or no up-front cost, we are able to offer
a premium ARC solution to customers in a wider variety of
industries, particularly the middle market and public sectors,
which have been slow to adopt ARC because of its perceived cost of
entry," said Ramey. 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 all 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/ . 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 June 30, 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 , for US Dataworks, Inc.; or investors, Ken
Dennard, +1-713-529-6600, or , for US Dataworks, Inc. Web site:
http://www.usdataworks.com/
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