World’s Foremost Bank Modernizes Receivables Processing with Clearingworks Cloud-Based Service from US Dataworks
SUGAR LAND, Texas, May 9, 2011 /PRNewswire/ — US Dataworks, Inc. (OTC Bulletin Board: UDWK), a leader in payment-processing solutions, announced today that World’s Foremost Bank (WFB), a wholly owned subsidiary of hunting, fishing and camping outfitter Cabela’s, will modernize its receivables processing on the Clearingworks Cloud-based platform from US Dataworks.
Mario Villarreal, President and COO of US Dataworks, stated, “Businesses are looking for better ways to manage their fast-changing mix of payments, while avoiding hefty upfront technology costs. Today’s announcement further validates the cost-saving potential organizations see in combining enterprise-class payment processing with the Cloud delivery model. This combination turns the traditional business case for payments solutions on its head, and offers an appealing alternative to outsourcing.”
Cindy Fulton-Serrano, Vice President of Accounting and Finance of WFB, added, “We made the decision to move our payment processing to the Cloud to reduce the costs associated with maintaining the hardware at both our corporate offices and our disaster-recovery site. In addition, we wanted to be able to focus our attention on the process and remove the technical burden from our processing staff.”
WFB is now processing all paper-based remittances, Web payments, and telephone-initiated payments on the Clearingworks platform. WFB also will rely on the ClearInsights pillar of Clearingworks to archive all images and payment-related information, to simplify customer research and to improve visibility into payment trends.
WFB will be sharing its experiences at an educational session titled “SaaS and the Future of Payments Processing” at the TAWPI/IAPP/IARP Fusion 2011 conference in Orlando on May 10. This session will be led by US Dataworks and will feature both WFB and The San Diego Union-Tribune as key customers who have made the move to Clearingworks Cloud delivery model.
Attendees at the Fusion 2011 Conference can find the session:
Tuesday, May 10, 2:25 to 3:45 p.m.
Osceola Room 1
Gaylord Palms Hotel & Convention Center
About (WFB) Cabela’s Incorporated
Cabela’s Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world’s largest direct marketer, of hunting, fishing, camping and related outdoor merchandise. Since the Company’s founding in 1961, Cabela’s(R) has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World’s Foremost Outfitter(R). Through Cabela’s growing number of retail stores and its well-established direct business, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. WFB, a wholly owned subsidiary, issues the Cabela’s CLUB(R) Visa credit card, which serves as its primary customer loyalty rewards program. Cabela’s stock is traded on the New York Stock Exchange under the symbol “CAB”.
About US Dataworks
US Dataworks offers cloud computing on-demand payment processing services with proven enterprise-class payment, deposit, returns processing, and powerful payment analytic tools. US Dataworks is a trusted payments provider to utilities, telecommunications providers, content providers, financial institutions and government agencies.
Certain statements made in this press release (other than the historical information contained herein) constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements regarding our expectations relative to our on-demand cloud computing platform. 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, our 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 repay or refinance our debt, our ability to realize the anticipated benefits from our business initiatives, and other risks detailed from time to time in our SEC reports including our Annual Report on Form 10-K/A(Amendment No. 2) for the fiscal year ended March 31, 2010 filed with the SEC on February 22, 2011 and our Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2010 filed with the SEC February 22, 2011. These forward-looking statements speak only as of the date hereof. US Dataworks disclaims any obligation to update these forward-looking statements.
Contacts: Leilani Doyle US Dataworks, Inc. 281-504-8092
SOURCE US Dataworks, Inc.