SUGAR LAND, Texas--(BUSINESS WIRE)--U.S. Dataworks, Inc., the leading integrated receivables technology provider in the banking industry, closed a successful 2018 by processing more than $1 trillion worth of payment transactions for over 900 financial institutions through their Clearingworks® Platform. From a national perspective, approximately five percent of all check volume in the United States flows through Clearingworks.
Clearingworks automates accounts receivables processing for streamlined posting and reconciliation of payments across multiple channels – ACH, wires, online and check. Machine learning is the key to automate corrections, email matching and payment application processes. The result is improved cash application accuracy and reduced manual effort. With the transition to real-time payments, it is imperative for banks to closely integrate technical and business capabilities with their customers’ accounting systems.
U.S. Dataworks also invested in the future leadership of the company in 2018, naming David Peterson as President. His proven ability to lead fintech companies to sustained success provides the background and skills to lead U.S. Dataworks into the company’s next phase.
“I am thrilled to have joined the U.S. Dataworks team in 2018,” stated Peterson. “We accomplished some amazing things for our company, but most importantly, for the financial institutions seeking strategic treasury services for their business customers. As the United States financial system transitions to real-time, we are building the solutions to enable our banking clients to fully deliver on the promise real-time payments holds for everyone in 2019.”
Due to the success of U.S. Dataworks, the company was able to expand their industry specializations in Mortgage Payment servicing, Property Management, Insurance, Regional Utilities and Municipalities as well as Non-Profit Organizations. This now allows other verticals to benefit from the comprehensive, ease of service U.S. Dataworks supplies with the Clearingworks Platform.
About U.S. Dataworks
Sugar Land, Texas-based U.S. Dataworks, Inc. provides integrated receivables technology to empower banks of any size to offer sophisticated treasury management services to their business customers. The flagship software, Clearingworks, takes treasury management solutions to a new level, by combining Intelligent Learning™ with proven integrated receivables technology to meet the changing demands of financial institutions and the businesses they serve.
U.S. Dataworks, Inc. is a wholly-owned subsidiary of The Bankers Bancorp of Oklahoma, Inc. More information is available at www.usdataworks.com.
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