Here is the e-mail that spawned this... "Hey Ben - Included is ______ who is starting starting a neobank to service _____ market. She's really close to the market but figuring out what providers to put together to make this work. Can you help offer some guidance?" I'm going to post my answer here because… Continue reading How to build a Neobank
Dwolla released Virtual Account Numbers yesterday. This is interesting and beneficial for a number of reasons. One of those reasons is the interoperability VANs enable with the non-Dwolla payment world. A VAN is a routing number (RN) and account number (AN) combination that is ACH routable. This means you can plug a VAN into any… Continue reading Dwolla Interoperability
The phrase the value layer of the internet is peppered throughout my work. When I say, the value layer of the internet, what I'm speaking to is the immensely complex series of systems that support value exchange across the internet. I've come to think about this as being comprised of access, value types, transfer types,… Continue reading The Value Layer
In a meeting last week we were talking about T+2 challenges. Certainly Robinhood has brought these back to light. Companies these days are commonly raising capital left and right just to fund payments. The thing is, T+2 is going away right before our very eyes and pre-funding requirements are now being solved through various mechanisms.… Continue reading Solving T+2 Settlement
After ~4 months on sabbatical I returned to work at Dwolla this week. I wasn't sure how I would feel but I'm happy to be pleasantly sitting here Saturday morning reflecting with a smile on my face. This week was really nice. I'm aware that my perspective has shifted after some time to think. I… Continue reading Back @ Work. Appreciating Power of Platform.
The topic of funds availability came up with a large potential partner on a call a few weeks ago. When funds are available to the recipient in an electronic transaction is more often than not a function of the Transfer Type that's being used to exchange money. In the US, there are many Transfer Types… Continue reading $1,000,000 in liquidity for $164.38. Solving for real-time with a bit of cash.
I had an opportunity to talk with Jeff Forkin at Currency Cloud a few weeks ago about programmable payments and the approach we've taken at Dwolla. You can listen to the discussion below. Looking back on when I was first introduced to the Currency Cloud team and Stephen Lemon, it's amazing how far FinTech has… Continue reading Talking Programmable Payments with Currency Cloud
The internet is full of sessions. From the most the most obvious to obscure — browser sessions, driving a car, phone calls, playing a game, and too many other examples to list. One of the design considerations for Dwolla's Labels technology was how to grant access to something that can't own an asset. Like a… Continue reading Sessions of money, data, and trust
The Dwolla ecosystem is now big enough that businesses can be built around it and start generating substantial revenue. I was talking to a friend the other day who was thinking about starting a new company and I laughingly mentioned the fastest path to revenue I knew of right now was to build around the… Continue reading Building a $10M+ revenue business on the Dwolla ecosystem
When building a Dwolla platform application it's important to understand the Customer Types you can use. These are building blocks for your funds flows and the right end user experience. There are 3 Customer Types to understand. They are outlined on the Dwolla developer website but lately I find myself drawing them on a whiteboard… Continue reading Understanding Dwolla Customer Types