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Payment Methods

Standard ACH
Standard processing times.

Same Day ACH
Expedite your payments.

Real-Time Payments
Transfers in real time.

 
Features

Webhooks
Real-time notifications.

Correlation IDs
Tracking transactions and reconciling bank records.

Addenda Records
Additional transaction information, like a note or memo.

 

 

 

 

 

Security

Open Banking Services
Instant account verification, balance checks and fraud mitigation.

Tokenization
Digital interactions result in unique identifiers.

Bank Verification
Smoother, safer, more efficient transactions.

Secure Exchange Solution
Securely exchange data with trusted partners.

Benefits

Sandbox Environment
Simulate use cases and try out features.

Dedicated Support
Supporting your payments journey.

Faster Payments for the Lending Industry

Dwolla empowers lenders to eliminate the manual processes and outdated payment systems that negatively impact payment speed, efficiency and security, and borrower experience.
A person working on a computer, a person making a payment on a mobile device, 2 people review documents.
BEFORE DIGITAL TRANSFORMATION

Industry Challenges

Lenders have to find a way to meet the changing expectations of borrowers while eliminating operational inefficiencies and reducing security risks.

Changing Borrower Expectations
Meeting borrower experience expectations is difficult when using manual processes and outdated payment methods, leading to struggles with borrower acquisition and retention.
Payment Security
Security concerns and risks can lead to costly fraud incidents or security breaches, as well as reputational damage and lack of trust between lending companies and their borrowers.
Operational Inefficiencies and Disparate Systems
When the digitization process is piecemeal and includes standalone systems, operational inefficiencies abound, and integrating payments with other business software becomes difficult, if not impossible.
AFTER DIGITAL TRANSFORMATION

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.
2 mobile devices with notifications: Your automated monthly payment is scheduled for tomorrow. And Loan funds are now available in your account.

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.
A lock with a security shield and a verification check. Background has network data lines.

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. 
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Learn how this fintech leverages innovative payments to help build customers build credit

Extra leverages Dwolla’s API for faster money movement and reconciliations for credit reporting.

Leading Open Banking in North America

40+ Partners
20M+ End-Users
121M+ Annual Transaction Volumes
99.9% Uptime, 365 Days

Dwolla Connect

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. 

 
LEARN MORE

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.

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