Dwolla launches new open banking services image credit: shutterstock

US-based account-to-account payment solution provider, Dwolla, has launched an open banking solution. The built-in open banking integrations extend Dwolla’s account-to-account (A2A) offering to include instant account verification, balance checks and fraud mitigation. Dwolla says that its open banking services empower mid- to enterprise-sized businesses with the functionality they need to offer fast and secure A2A payments through Dwolla’s single API.

“Our vision with Dwolla’s Open Banking Services is to empower businesses with a seamless, all-in-one solution for A2A payments,” said Dave Glaser, CEO at Dwolla. “By consolidating essential A2A payment functionalities under one roof, we aim to simplify the payment landscape for businesses. This enables faster time-to-market and improved operational efficiency.”

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Traditionally, navigating the complexities of A2A payments has been a challenge for businesses. This often requires multiple vendors, APIs and technical integrations. Dwolla enables enterprises to digitally transform their payments by offering a comprehensive, modern solution. This encompasses instant account verification, balance checks, fraud mitigation and A2A transfers through a unified integration.

Dwolla’s Open Banking Services benefits

  • Comprehensive Solution. Dwolla’s single API enables enterprises to create rich payment experiences embedded within their applications through access to open banking services. This includes verification of customer and business records and the secure exchange of account credentials.
  • Reduced Time and Effort. Dwolla’s single API allows enterprises to enable fast and secure A2A transactions through a single vendor. Dwolla simplifies the integration process by streamlining contract management, technical integration and ongoing maintenance efforts.
  • Modular Approach. Dwolla’s scalable and customisable solution is built to fit the specific needs of mid-to-enterprise clients.

Dwolla says it simplifies the A2A payment experience by pre-integrating with leading open banking service providers. The pre-integration ensures a smoother implementation process for businesses. In addition, it reduces complexity and accelerates time-to-market for A2A payment solutions.