Dwolla’s white label API is new and it has been a great product for us.
I think that is because if you think about bank transfers in a very simplistic view there are 2 parts:
- Bank Authorization. This gives your application the proper authorization to credit and debit a bank account.
- Bank Transfer. These uses the proper authorization to make a debit or credit in a bank account.
As most people who have built bank transfer interfaces know, setting up a system to do this is a notoriously difficult and time consuming endeavor.
These new services get bank transfer capability into your apps without your team having to deal with all the complexity. In short:
- Free ACH processing services
- Included ACH fraud protection
- Automated ACH returns and corrections
- Real-time transfers where available
- The API itself that allows your app to authorize bank accounts on behalf of your customers.
The interface we supply out of the box for the bank authorization API is easy for a end user to understand.
Here is a demonstration of a realtime bank authorization with Wells Fargo:
Building bank authorization into a mobile app is straightforward. The flow is what you’d expect.
- How to authorize a bank account to credit or debit later without using the 2 deposit method.
- How to actually transfer the money between accounts once you have the authorization.
- How to manage things like abuse, returns, and corrections.
The new white label services are part of Dwolla’s custom package.