Faster Payments for the Lending Industry
Lenders have to find a way to meet the changing expectations of borrowers while eliminating operational inefficiencies and reducing security risks.
Improved Borrower Experience
Automating and digitizing payments with Dwolla Connect helps streamline the loan disbursement and repayment process for lenders and borrowers.
- Control the borrower experience and fit payments into the flow of your application with Dwolla's modular, fully customizable API solution.
- Create a borrower experience that differentiates you from the rest of the market, improving borrower acquisition and retention.
- Streamline payment processes for you and your borrowers through faster payment methods and payment automation.
- Take advantage of end-to-end payment visibility and automatic reconciliation.
Increased Payment Security
Since Dwolla is a tokenized solution, account and routing numbers are stored and transmitted with a token instead of having to pass the numbers themselves every time a payment is made.
- Replace sensitive data with tokens so no sensitive data is transmitted when a payment is initiated through Dwolla's API.
- Decrease the risk of sensitive data being intercepted by bad actors.
- Eliminate manual processes to reduce errors caused by human intervention and the number of people with access to and handling sensitive borrower data.
Faster, More Efficient Payment Processing
Automation and A2A payments through Dwolla replace time-consuming and error-prone manual processes (like returns handling) and outdated payment systems. This saves lenders valuable time and resources, improves cash flow and increases loan repayment predictability.
- Unlock simple and easy connection and data transmission between business systems (accounting software, ERP, etc.).
- Associate payments initiated through the Dwolla API with records in other business systems and allow for automated reconciliation.
- Get real-time updates on payment statuses and help to quickly and easily identify issues (such as ACH returns) that require manual intervention.
Leading Open Banking in North America
Dwolla Connect is a unified API solution across financial institutions and account-to-account payment methods and is designed specifically for mid- to enterprise-sized businesses with established payment operations. It empowers them to undergo a seamless digital transformation from outdated payment systems, manual processes, and file-based operations to fully streamlined, automated processes.
Innovations, Ideas and New Payment Possibilities
From best practices to bold ideas, see how Dwolla and our customers uncover solutions using account-to-account payment technology.