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US Dataworks Inc. Message Board

bigglesworth_mn 24 posts  |  Last Activity: Jun 24, 2014 7:07 PM Member since: Oct 18, 2008
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  • How to Increase Value with Vertical Lockbox Services
    Join us for this free webinar event
    Tuesday, July 8 from 2:00 PM - 2:45 PM ET


    New technology enables banks and service providers to tailor their lockbox and receivables management solutions to specific verticals. Learn how your clients can benefit from increased automation and posting accuracy.

    The webinar will cover how to:

    Enhance product opportunities for healthcare, property management, government agencies, insurance companies and more
    Simplify implementation and payment on-boarding
    Increase flexibility to serve numerous specific industries
    Differentiate your treasury management services from legacy solutions

    Panelists will include:

    Leilani Doyle, VP Product Management for US Dataworks
    Tom Drunsic, Principal of Lighthouse Payment Services

  • Either they are working with someone who has their own sales force or UDWK is not selling much lately.
    In addition to Marc Palombo leaving, Matthew Frisa recently left after being The Eastern Region sales manager for over three years. And Kevin Armbruster left after a year+ of being a Territory Sales Manager.
    Seeing that they have new business, they must being getting sales somehow we don't know about, or they are not selling anymore? Time will tell.

  • Reply to

    Partner Page Updated - some new some gone

    by bigglesworth_mn May 2, 2014 5:11 PM
    bigglesworth_mn bigglesworth_mn May 23, 2014 6:15 PM Flag

    Jobs available at Paydiant
    Channel Development Manager/Director
    Solution Consultant
    Senior Security Engineer
    Customer Delivery Manager
    Senior Quality Assurance (QA) Engineer
    Manager, Information Security and Compliance
    Quality Assurance (QA) Engineer/Support
    Professional Services Project Manager
    Customer Service Manager/Technical Analyst
    Business Development Representative
    Quality Assurance (QA) Engineer
    Senior Iphone Mobile Architect/Engineer
    Senior Android Mobile Architect/Engineer
    Senior Software Engineer
    Technical Account Manager

    And in the news..........
    MEDIA ADVISORY - Paydiant Executive To Speak At The International Retail User Group Conference
    20 MAY 2014
    MEDIA ADVISORY
    Session to Explore "Activating Consumer Marketing with Retailer Mobile Wallets"
    WELLESLEY, Mass., May 20, 2014 (GLOBE NEWSWIRE) -- Paydiant vice president, John Hughes, will present a session on retailer-branded mobile wallets as a marketing platform at the International Retail User Group (IRUG) Conference May 18-21 at the Renaissance Orlando at SeaWorld®. The session, titled "Activating Consumer Marketing with Retailer Mobile Wallets," takes place on May 21st at 1:00 pm and will explore how retailer-branded mobile wallets can extend mobile marketing efforts, preserve brand equity and drive new revenue opportunities. Hughes will detail why the mobile wallet is much more than a payments platform and how it can also be used to deliver highly targeted offers, ads, mobile-enabled loyalty and customer rewards, all driven by data, to activate consumers and provide valuable insights into customer behavior.

    You may be incorrect in your statement that Paydiant is a boiler room company bubba fudgie.

  • Reply to

    Interesting press release.

    by manofeconomics May 19, 2014 3:24 PM
    bigglesworth_mn bigglesworth_mn May 19, 2014 4:15 PM Flag

    It also announced John Penrod as permanent CEO and Chairman of the board. "John's proven experience in leading enterprise-class businesses is essential in continuing US Dataworks growth and sustained profitability."

    Mostly important - The Operating Income is POSITIVE and there is double-digit growth.

    Looking forward to many years of sustained PROFITABILITY with "new banks, BPO's, credit unions and the customers they serve is resulting in healthy recurring revenue growth."

    Looking good in my continued opinion.

    Sentiment: Strong Buy

  • Reply to

    Partner Page Updated - some new some gone

    by bigglesworth_mn May 2, 2014 5:11 PM
    bigglesworth_mn bigglesworth_mn May 19, 2014 1:15 PM Flag

    They were never a boiler room - they are a start up at worst. According to Crunchbase they have $34 million in funding from North Bridge Venture Partners, General Catalyst Partners, Stage 1 Ventures, and Sands Capital - legit. investment firms.
    According to Diebold - "Diebold and white-label mobile-wallet provider Paydiant developed the cross-channel solutions and hold complementary patents on the technologies"

    Merchants that use Paydiant include Subway, Capital One, Orange Leaf, Vantiv, Harris Teeter, Barclaycard, Pulse, etc.
    Where is the evidence that they are boiler room?

    Those few things I found seems to contradict your post bubba fudgie. I have never heard of Boiler room companies getting $34 million from North Bridge, General Catalyst, Stage 1, and Sands Capital. And getting Subway, Capital One, etc. to sign up. And hold patents with Diebold.

    But maybe this is a hay day for boiler room - could be a new one for me. Thanks for the informative and educated post bubba fudgie.

  • TDS is featuring using/reselling Jaguar Software - not Clearingworks
    "MirrorImage, the advanced check-imaging solution developed by Jaguar Software is comprised of a suite of easy-to-use yet technologically advanced application modules. These powerful and affordable modules can be purchased as a bundle or separately, depending on your specific requirements.The functionality and flexibility built into the MirrorImage system enables you to seamlessly expand your capabilities and migration options as your institution’s needs evolve.

    MirrorImage interfaces with a variety of item processing transports including NCR, Canon, Unisys, Panini, Digital Check, and Seac Banche to allow institutions flexibility in selecting from a wide range of transport capabilities and costs. The modularity of the MirrorImage system allows you to configure a system that not only meets your needs today but will also be able to grow as the needs of your institution change in years to come.

    The MirrorImage system can be configured to handle several different item processing environments including (but not limited to):

    Remote Deposit System
    Proof of Deposit System
    Branch Capture System
    Payment Processing System
    Microfilm Replacement System
    Federal Reserve Image Archive System
    Back-End Check Imaging System"

  • bigglesworth_mn bigglesworth_mn May 12, 2014 9:28 PM Flag

    CNBC Ad Campaign for NXT-ID's Next Generation Smart Wallet, Wocket™, to Begin May 14th
    Wocket Ads to Air on Squawk Box, Squawk on the Street and Street Signs

    SHELTON, Conn., May 12, 2014 /PRNewswire/ -- NXT-ID, Inc., (OTCQB: NXTD) a biometric authentication company focused on the growing m-commerce market, is pleased to announce that the first series of 30 second spots on CNBC for its next generation smart wallet, Wocket™ , will start airing May 14th. The ads will air on Squawk Box, Squawk on the Street and Street Signs .

    The "Get to know Wocket™ " ad campaign is part of a comprehensive marketing roll- out including the May 28th press conference and marketing event to be held at the Plaza Hotel in New York City ( 3:00 - 5:00 PM ). Advance ordering for Wocket™ will start at 5:00 pm May 28th

  • Wocket™ is a smart wallet. Like the smart phone and smart watch, NXT-ID is introducing its innovative, patent-pending Wocket™ as the next natural step in the evolution of smart devices.

  • bigglesworth_mn bigglesworth_mn May 12, 2014 9:15 PM Flag

    either just launched the service, or are well on their way to doing so.
    The commonly-viewed benefits of this new service, referred to as Remote Deposit Capture (RDC), include convenience, better deposit availability and reduced transportation cost & risk. It is important to note that not all solutions are the same. Additional functionality such as Intelligent Character & Document Recognition, data management through business rules, the ability to feed internal systems, intelligent clearing capabilities and many others can further add value to the business case.
    Remote Deposit Capture is a must-have product solution most US-based banks are racing to develop and get to market, and a service every corporation or correspondent bank should consider."

  • no longer Latin jibberish .... instead
    "If you handle checks or payments we have software to automate the processing. Please contact us for a full line of services and products."
    "Lockbox

    Accelerate Your Receivables Processing
    With our broad network of secure lockbox sites and innovative electronic receivables products, we can help you cut hours – or days – out of your collections process by automating your receivables posting.
    Improve Deposit Availability
    Our lockbox services deliver comprehensive, flexible remittance processing that can substantially streamline your accounts receivable function. In addition, our lockbox services can help you to:
    • Reduce day’s sales outstanding.
    • Improve staff productivity by automating manual processes.
    • Decrease the potential for theft, fraud and error by reducing the number of employee “touches” on each transaction.
    • Access decision-critical account information from your desktop.
    • Speed remittances – and improve overall cash flow
    How Lockbox Works
    At our expansive network of lockbox sites, we accept electronic and paper remittances, convert the checks to ACH debits or electronic images, and then transmit the information directly to you.
    Our time-saving service includes frequent mail pickups (on average, 15 to 20 times daily), an extensive retail lockbox network, the largest wholesale lockbox network in the United States, and the largest image-equipped network in North America. We can automatically update your accounts receivable system, and provide same-day information access via electronic reporting. Traditional paper reporting is also available."
    "Enhanced Remote Deposit

    Remote Deposit Capture has been called “The most important development the (U.S.) banking industry has seen in years” by the Federal Reserve and others. Almost all of the RFPs (Request for Proposals) Cash Management groups at the largest banks in the USA receive now request information on this service, and nearly all of the top banks in the USA have eit

  • Reply to

    Got my buy order in

    by paulthetree May 9, 2014 8:35 PM
    bigglesworth_mn bigglesworth_mn May 10, 2014 11:15 AM Flag

    Probably the same reason(s) you upped to 600,000 shares instead of being happy with the 500,000 shares you had.
    -the industry is taking off, you can read many articles about that
    -UDWK has some great partners, Paydiant the latest and one of the greatest along with BancTec and Dell in my opinion
    -Marc Palombo is a good man, he will not forget UDWK over at BancTec in my opinion
    -Why did they cut so much much staff lately and why is Randy recommended for "mergers and acquisitions"by Leilani Doyle and John Penrod on LinkedIn? - either they are bluffing as some on this board believe or they are going to merge or be acquired by someone bigger as I lean towards. The huge amount of money they process every day for the Federal government is a very signigicant thing. Maybe the possible merger or acquisition is why Marc left and was hired so quickly at BancTec.
    -Technique Data Systems being slow to update their "payment processing" and "lockbox" link is telling is some ways. Also, QDS and TUI USA. Even though QDS inc. was taken off the US Dataworks partner page - they still list UDWK as a parnter and still feature the press release of their partnership und "breaking news" on their website.
    -I am cautiously excited about the near future. As Leilani Doyle tweeted - this will be a suspensful summer as UDWK reveals where they are heading and what exactly their new payment processing is.

    Sentiment: Strong Buy

  • bigglesworth_mn bigglesworth_mn May 8, 2014 7:10 PM Flag

    Remeber Paydiant patents
    Mobile phone payment processing methods and systems
    United States Patent 8380177
    Abstract:
    Embodiments provide systems, methods, processes, and computer program code for using mobile devices to conduct payment transactions at merchant locations including brick and mortar locations and remote locations as well as for person to person transactions.

    and

    Mobile phone ATM processing methods and systems
    United States Patent 8632000
    Abstract:
    Embodiments provide systems, methods, processes, computer program code and means for using mobile devices to conduct transactions with ATM devices.

    Sentiment: Strong Buy

  • In the blog titled "Iphones, Droids, All Smart Phones meet the ATM", it mentions "contactless" ATMs will be the fastest growing value added ATM service in the next 5 years according to a international survey released last week by ATMIA.
    Yes, Paydiant does that as I pointed out a few days ago.

    Sentiment: Strong Buy

  • bigglesworth_mn bigglesworth_mn May 3, 2014 9:43 PM Flag

    Billsimple by Profitstars is a fantastic product. Seems like US Dataworks has some stiff competition.

  • Looks like they contracted with the city of Oakland, Michigan to use RemitPlus - from Profitstars - A Jack Henry Company - The Contract Was Approved on 1-10-13
    (I suppose TDS did not promise to only resell Clearingworks??)

    from contract.....
    "RemitPlus 1 $12,390.00 $12,390.00
    CAR/LAR Desktop Licensed up to 500,000 1 2,300.00
    ScanForm Desktop API a 250.00
    FormXtra Server a 1,650.00
    Electronic Depo~it (included) 1,500.00
    Microsoft SQL Interface (included) 1,500.00
    Multi User Upgrade (included) 2,000.00
    TOTAL SOFTWARE
    Annual Software License & Maintenance
    RemitPlus 1 2,700.00
    CAR/LAR Desktpp Licensed up to 500,000 1 880.00
    ScanForm Desktop API a 50100
    FormXtra Server a 330.00
    Electronic Deposit (included) 300.00
    Microsoft SQL Interface (included) 300.00
    Multi User Upgrade (included) 600.00
    TOTAL ASL&M
    OAKLAND COUNTy'DEPARTMENT OF MANAGEMENT AND BUDGET - PURCHASING DIVISION
    PROFESSIONAL SERVICE CONTRACT NUMBER 003661"

  • bigglesworth_mn bigglesworth_mn May 3, 2014 2:11 PM Flag

    The endorsements are the new contracts, new partners, and new business. Take a step back and look, not hard to see them now. (all my opinion based upon research and press releases and the direction the financial world in heading - please do your own DD)

  • Chuck Ramey was the president and a founding partner of PaymentNet Inc., now Signio Inc., which was acquired by VeriSign Inc.

    The founders of Paydiant .....
    Paydiant was founded in 2010 by 3 entrepreneurs – Kevin Laracey (Ex Venture partner at Sigma Partners, also cofounder and CEO eDocs), Joe Paratore (Ex VP of engineering and technical services, eDocs, joined m-Qube and later Verisign after its acquisition) and Chris Gardner (was CMO atExtendMedia and later joined m-Qube and Verisign).

    In February 2011, Northbridge Venture Partners and General Catalyst Partners invested a total of $7.6 million in the company. In addition to the first two, Stage 1 Ventures and Sands Capital Ventures also invested in Paydiant in 2012. On 9th September 2013 they received their 3rd round of funding at $15 million to take their total to 34.6 million.

  • bigglesworth_mn bigglesworth_mn May 2, 2014 9:00 PM Flag

    Paydiant is not the first to venture into this space. So who are the other players?

    Diebold Inc.

    In October 2013, Diebold Inc., announced that it is making a contactless card reader available at all financial institutions globally. The solution claims to leverage NFC technology at the ATM, enabling the user interface to read smartphones with NFC and contactless media such as payment cards, tags, stickers etc.

    Existing Opteva ATMs can be upgraded with the Diebold contactless card reader. It works with both dip and motorized magnetic stripe card readers to enable an alternate method for transactions. The contactless card contains a chip or processor which can communicate and exchange information with a reader. When the card is placed next to the contactless reader, it is detected through NFC technology.

    **interesting fact - Diebold Opteva ATMs are sold and maintained by Technique Data Systems.

  • ATMs haven't changed all that much over the years. Bankers are a very conservative bunch. But now Diebold has deployed the first of a completely new kind of ATM designed to appeal to gadget-obsessed millennials.

    The machine has no physical buttons or card reader. You do nearly all your interactions with it through the cloud using a smartphone.
    The new machine was announced in early 2013. but now there is one in operation at Diebold's own credit union, Diebold Federal Credit Union (DFCU).

    All kinds of cool applications become possible in this scenario. One example they show is how a user can authorize a third party to withdraw a specified amount of cash from his account. In the app, you pick a person from a list which the app populates from the phone's contacts list, then designate an account and an amount of money. The app sends an SMS to that person with a six-digit code. The other person goes to an ATM and enters this code, at which point it dispenses cash.

    Such ATMs should make skimming basically impossible. Customers conduct very little interaction directly with the ATM itself. New, stronger methods of authentication are possible: For instance, the user at the phone can prove that they are the one at the ATM by taking a photo of a QR code on the ATM display.

    This design also makes the ATM itself much simpler, more of a thin client. With as much of the logic in the process as possible in the cloud, the code in the ATM itself could be simpler and more hardened and heavily scrutinized.

    Another important part of this design is a mobile wallet provided by Paydiant that allows customers to pre-stage withdrawals. It also creates the possibility of using similar technologies for point of sale: Imagine the customer at the register paying by scanning a QR code generated by the point-of-sale system. The QR code, sent through the mobile wallet from the phone, authorizes payment which is confirmed to the register from the cloud. Or the other way around: The user could

  • Reply to

    New Partner Paydiant is pretty awesome

    by bigglesworth_mn May 2, 2014 5:19 PM
    bigglesworth_mn bigglesworth_mn May 2, 2014 8:32 PM Flag

    Yes, no problem DOW, I will not, pretty big news in my opinion. Also found this Paydiant patents......Depending on what kind of partners they are, this is great news for UDWK and us shareholders.....

    February 19, 2013: US Patent 8380177
    Mobile Phone Payment Processing Methods and Systems

    January 21, 2014: US Patent 8632000
    Mobile Phone ATM Processing Methods and Systems

UDWK
0.0740.000(0.00%)Jul 11 12:09 PMEDT

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