CheckAlt acquires U.S. Dataworks, steps ahead in remittance payments

By Pavithra R

CheckAlt, a leading independent provider of lockbox and treasury solutions in the United States, has announced the acquisition of software provider and engineering firm U.S. Dataworks from The Bankers Bank of Oklahoma.

Through the acquisition, CheckAlt is looking forward to enhancing its position by including insource capabilities, allowing banks and their business customers to internally capture all forms of remittance payments, including lockbox receivables. For financial institutions and their corporate clients who are looking for controls and experiences and wish to customize and influence can now have that option with the expanded receivables solution suite provided by CheckAlt with U.S. Dataworks. 

“Recognizing that the U.S. Postal Service is going to be overwhelmed and distracted with mail-in voting and other impediments to normal delivery, we must enable additional solutions for our clients to capture payments on-site, remotely, or through any one of our 13 lockbox processing centers across the country. Moreover, between the hundreds of financial institutions that both CheckAlt and U.S. Dataworks serve directly, we now have further reach to offer our full suite of payment solutions, which include not only paper processing but as well our Catch! product and card processing services,” said Shai Stern, Co-Chairman and CEO of CheckAlt.

Established since 1994, US Dataworks delivers enterprise-class payment processing solutions to financial institutions, businesses, and government entities. Its’ web-based technology fulfills the needs for on-premise or remote processing and embeds the business intelligence (BI) to facilitate the conversion of paper payments to electronic. Besides acquiring its robust technology, CheckAlt also welcomed U.S. Dataworks’ employees to its team.

“One of the many benefits of this acquisition is how our services align with CheckAlt’s mission to support financial institutions and businesses with the transition to electronic payments. Both CheckAlt and U.S. Dataworks have proven the simplicity of migrating paper to electronic in several ways. These include preventing online bill payments from becoming checks, migrating paper payments for utility and property management bills to ACH and card transactions, and working with billers to convert invoice files to digital formats for simplified cash application and reconciliation,” said Leilani Doyle, a 12-year veteran of U.S. Dataworks who is also joining CheckAlt.

“U.S. Dataworks has been a long-term trusted partner, serving The Bankers Bank and our respondents for many years. The product suites of U.S. Dataworks and CheckAlt are very symbiotic, and this transaction will allow U.S. Dataworks to increase their reach with new products and new markets. We look forward to continuing as a client of U.S. Dataworks, and now CheckAlt, for many years to come,” said Don Abernathy, CEO of The Bankers Bank.

Recently, CheckAlt partnered with NXTsoft on real-time integration with core providers.

Founded in 2004, CheckAlt delivers item processing and treasury management solutions for financial institutions and business clients in the U.S., representing a variety of industry sectors, including property management, healthcare, utilities, municipalities, nonprofit, higher education, and small business.