The top focus for the product team at Dwolla is to identify and eliminate friction for our customers. To that end, we’ve been busy over the past 15 months implementing refinements to make it easier for people to get up and running with Dwolla. We’ve improved:
- Signup experience to be cleaner and more intuitive
- Account verification now includes instant account verification as an option along with micro-deposits
- Activation; we reviewed how people are using Dwolla and explored opportunities to increase activation.
After looking at the variety of ways businesses have integrated with Dwolla, we identified how to drastically improve the experience and increase activation for certain use cases. Enter Dwolla Direct. With Dwolla Direct, customers are no longer required to enter personal information such as date of birth or SSN to start using Dwolla. They just enter their email address and create a password, then connect their bank or credit union account so we can process any transactions. This lightweight account type is available within specific payment and onboarding flows.
We first introduced Dwolla Direct in our revamped Offsite Gateway Checkout in Summer 2014. By Fall 2014, we added the ability for non-members to create a Direct account in order to claim funds sent by an existing Dwolla member.
This week, we added OAuth account creation to our OAuth implementation. Now any third-party app can allow account creation and bank verification inline with the capture of an application’s permissions. There are now three ways to onboard customers within the OAuth workflow:
- Direct account creation with minimal routing instruction
- Direct account creation with bank verification
- Traditional account onboarding with both account and bank verification
So, what’s all this mean?
With these improvements usage has improved 3x—but we’re not done. We’ll continue to iterate and improve the traditional account creation process within the web experience in the coming months. We’ll refine the customer onboarding experience within our Offsite Gateway and OAuth experiences. And, we’re actively engaging our API partners to further accelerate the account creation experience and to give you more control of the overall experience.
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