US Dataworks and Midwest Independent Bank Reach New Milestone With Image Clearinghouse Solution
January 16 2008 - 9:00AM
PR Newswire (US)
HOUSTON, Jan. 16 /PRNewswire-FirstCall/ -- US Dataworks, Inc.
(AMEX:UDW), a leading developer of payment processing software,
announced today that Midwest Independent Bank (MIB) surpassed a
transaction volume of three million per month with
Clearingworks(R). US Dataworks' Clearingworks(R) Enterprise Payment
Solution (EPS) and Image Clearinghouse solution empowers MIB to
offer Image Cash Letter clearing services to its customers and to
the customers of Nebraska Bankers' Bank (NBB), another subsidiary
of Midwest Independent Bancshares Inc., through MIB's Midwest Image
Exchange Network (MIE.net(TM)). MIE.net(TM) reduces check clearing
fees, while improving funds availability. MIE.net(TM) is one of the
largest image exchange networks in the Midwest with over 150 member
banks. US Dataworks' solution incorporates the industry-leading
capabilities of Clearingworks(R) utilizing Least Cost Routing Best
Fit Clearing(SM) to determine the best method for payment
settlement. The robust consolidated platform affords businesses a
myriad of ways to securely access, capture, collect, process and
clear payments locally or remotely. "This is a monumental milestone
for MIB and MIE.net. We have seen a significant growth in
transaction volume in less than a year of being in production, and
look forward to next year where we expect to see continued growth
in both the number of members and transactions," said David
Vandeven, President and Chief Executive Officer of Midwest
Independent Bank. "We believe Clearingworks(R) will assist Midwest
Independent Bank in their future growth objectives as they become
one of the premier electronic clearinghouses," said Terry Stepanik,
President of US Dataworks. About US Dataworks, Inc. 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. Additional information about US Dataworks is available at
http://www.usdataworks.com/. About Midwest Independent Bank MIDWEST
INDEPENDENT BANK (MIB), based in Jefferson City, MO, and Nebraska
Bankers' Bank (NBB), based in Lincoln, NE, are "bankers' banks"
which provide a wide array of correspondent banking services to
approximately 550 financial institutions throughout Missouri, Iowa,
Nebraska, and South Dakota. MIB and NBB are part of a two-bank
holding company, Midwest Independent Bancshares, Inc.
(http://www.mibancsharesinc.com/), based in Jefferson City. Visit
their websites at http://www.mibanc.com/ and
http://www.nebraskabankersbank.com/. Except for the historical
information contained herein, the matters set forth in this press
release, including, but not limited to statements regarding the
Company's belief that its Clearingworks solution will save its
users fees and is leading in its industry, 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 review and audit of its financial
statements and other risks detailed from time to time in the SEC
reports of US Dataworks, including its annual report on Form10-KSB
for the period ended March 31, 2007 and its quarterly report on
Form 10-QSB for the period ended September 30, 2007. These
forward-looking statements speak only as of the date hereof.
USDataworks disclaims any obligation to update these
forward-looking. CONTACTS: John Figone, SVP, Business Development
US Dataworks, Inc. Tel. (281) 635-7932 Donald C. Weinberger 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., +1-281-635-7932; 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/ http://www.mibanc.com/
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