Source: US Dataworks
US Dataworks, Inc. 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 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.