By: Dwolla,

Over the past year we’ve made a strategic pivot, transitioning our focus away from a consumer application to a SaaS model designed for businesses who need to access the ACH network and incorporate bank transfers into their own application or service.

This is not a signal that there are major changes in service with In fact, we continue to invest in this area and leverage the application as an operational showcase of our feature rich payments platform. Unlike market alternatives, the Dwolla solution allows businesses to send money to, receive money from, or transfer money between their customers.

Take for example our integration with GOAT, a two-sided marketplace for high-end sneakers.  GOAT had an existing solution for marketplace disbursements that fell short of merchant expectations. The supply side of their business (shoe sellers) grew increasingly unhappy with the existing process for receiving money from the shoes they sold. With our V2 API, GOAT was able to quickly integrate a seamless, white label payouts solution in under 10 days. Further, customer complaints from its sellers dropped 80%.

GOAT is only one example of what drives the direction of our product, simplify what was unnecessarily complex.

Looking back:

What’s possible with our API today was not possible a year ago. In the summer of 2015, we removed the already low per transaction fee. This allowed us to align revenue with what was truly providing value, a feature rich payments platform. Last fall, we introduced a new version of our API or what we refer to as V2. In addition to a simplified design, we moved away from a Dwolla branded experience, allowing customers to customize the end-user experience for their customers. It’s the Dwolla platform that drives the payment—it’s your brand that drives the experience.

Getting to this point required asking hard questions of our existing product and its position in the market. It also required that we take the next step as a maturing business and no longer apply the “start-up” label as a backstop to decision making. This strategic shift was about building a lasting business and we were fortunate to have a solid foundation to build upon.

Getting out of the way:

We believe that accessing the ACH network was unnecessarily complex. In addressing these complexities, we engaged with existing customers to truly understand the friction within the existing offering, understand where we fell short of expectations and get insight into what more was needed to compete in the market.

What we found was that in order to provide the ideal end-to-end experience, the payments aspect needed to move into the background and become a function of the service. As a part of this, we (Dwolla) needed to fade to the background.

This input and perspective shaped our Dwolla White Label service. Now our customers enjoy the benefits of branding their own payments experience, without needing to build it from the ground up (just making it look like they did).

Why? Empowering businesses to bring value:

By providing straightforward API documentation and dedicated developer support, businesses can go to market in as much or as little time as they desire—you set the pace and we’ll get you through the finish line.

It’s widely agreed upon that integrating a white label solution may prove easier and smarter than building your own version of a SaaS product. That holds especially true when dealing in payments. Building your own ACH solution calls for bank partnerships and an increased understanding of compliance.

We’ve spent the better half of the last decade boiling down a heavily regulated and complex payment process into a simple-to-use API, one that you can get started with immediately. If you don’t have time to reinvent the wheel, focus all your energy on breaking new ground in the finance / property management / e-commerce industry. We’ll help you manage the payment process in the background.

We are never done:

This past year’s pivot has brought a great deal of change for Dwolla—change for any organization is hard and we are fortunate to have the team and culture that does not shy away from big challenges. As we move forward, our team will deliver new functionality (rather than shiny new features) to continue to drive the value of a full-stack payment solution.

Interested in how your business could be utilizing Dwolla within your platform or application? Reach out to our sales team.

Financial institutions play an important role in the Dwolla network.

Dwolla, Inc. is an agent of Veridian Credit Union and Compass Bank and all funds associated with your account in the Dwolla network are held in pooled accounts at Veridian Credit Union and Compass Bank. These funds are not eligible for individual insurance, including FDIC insurance and may not be eligible for share insurance by the National Credit Union Share Insurance Fund. Dwolla, Inc. is the operator of a software platform that communicates user instructions for funds transfers to Veridian Credit Union and Compass Bank.