Dwolla FiSync – Financial Institutions See A Future Beyond Plastic and it is Dwolla.


Dwolla users have known cash-styled transactions will continue to have a future in the world, but now, so does your financial institution.

They’ve recently found value in Dwolla-driven transactions and how cell phones have the capability to do so much more than plastic cards. For example:

  • We allow greater control over personal credentials, yielding a much safer and more secure payment experience
  • Dwolla provides the ability to link with your social networks to effortlessly send and receive money with friends, family and organizations you care about
  • We allow you to select and find merchants to do business with in real-time, based on your current location
  • Dwolla provides the ability to share your purchase experiences with friends, family, and others in your social networks

Today, we’re happy to announce one more value-add we’ve been working on:

For the first time ever,  we are going to give you a dynamic platform that will be able to sidestep laborious ACH load and unload times, grant transparent access to your banking information and connect you instantly to the funds that you want to spend.

All of this begins now. We’ve already begun implementing Dwolla’s technology into financial institutions  nationwide.

Earlier this month we began the first implementation of our new banking services product with Premier Credit Union here in Des Moines. Called Dwolla FiSync (“Fi” being short for financial integration), the new technology is the direct result of our strategic relationship with our investor and technology partner, The Members Group. When completed this mid-level integration will cut out our current verification times of 2 to 3 days when you initially register an account; thus, allowing their members instant access to the Dwolla ecosystem. You can read more about it in their press release.

This new type of integration with Dwolla is a pivotal first step in what we see as the future of cash. The result is a revolution in the typical ACH processing procedures and a streamlined cash transaction from your bank account to a recipient, all through a phone.

What does this mean for you?

Joining a bank or credit union with full Dwolla FiSync integration gives you the convenience of mobile payments, the peer-to-peer experience of Facebook and Twitter, and the location-based technology of Spots all in the palm of your hand, all available in an instant. Powered by Dwolla, these new financial institutions will be able to add a whole new depth to the banking experience. Pure unadulterated and rightful access to your hard earned cash for you to spend in the way that’s easiest for you.

So here’s what continues to be interesting about this:

  • Which would you choose?
    • ACME Banking, which will mail you a checkbook and a few plastic cards?
    • Innovative Trust Banking, which will do the the same, but also provide you with instant access to your money on your phone for you to spend whenever, wherever, at no cost to you?
  • If you had the ability to never visit another ATM again, how happy would you be?
  • No more cards, no more plastic, no more physical cash. Just control.
  • What else can you think of? Tell us in the comments section…

So start asking your FI about their plans to integrate with Dwolla.

To Financial Institutions,

Please don’t hesitate to reach out to our lead at The Members Group, Brian Day. We created specific APIs, which will allow you custom integrate Dwolla’s technology into your current systems at a level that is most convenient for you and your members. For more information please contact:

Brian Day
The Members Group | 1500 NW 118th St | Des Moines, IA 50325
P: 515.457.5221 | T: 800.268.1884, ext. 5221 | F: 515.457.2005

  • Gnome D’Ploom

    FINALLY! This is a dream come true. Where can I find out what FIs are currently using FiSync and making its benefits available to account holders?

  • Baconmon

    Where is a list of credit unions that support this?..

  • Steve

    Hello, I am interested in the same list but for banks in the USA,such as Bank of A merica.

  • Vivek19

    hello, This is very interesting and should be very helpful to my clients. I work for a financial institute, I would like to get better understanding of the product before I propose this to my management team. Please get in touch with me at vivek19 {at} gmail {dot} com.


  • Justclint

    dont mean to beat a dead horse but is anyone gonna provide a list of fisync available FI’s?

    • http://twitter.com/NickGaskill Nick Gaskill

       Brian Day

      The Members Group | 1500 NW 118th St | Des Moines, IA 50325

      P: 515.457.5221 | T: 800.268.1884, ext. 5221 | F: 515.457.2005

  • Levon m

    Correct me if I am misunderstanding… This is a “cash” payment system, for which I pay one quarter for every transaction, which are digital rather than paper?
    There is no “credit” involved, the account must be funded ahead of time?

    How is this different from a debit card? I understand debit cards charge higher fees and dwolla claims to have a newer and better system than ACH.

    As a merchant I appreciate avoiding merchant fees. My own personal solution was to offer a cash discount for cash payers. I’m just trying to wrap my head around how to integrate this into my business and what benefit my customers will receive by using dwolla, and what benefit will I receive.

  • Sud

    I want to use Dwolla just for transactions. For example – programmatically pass the details of a transaction and leave the rest to Dwolla. OR is it required for me to create a Dwolla account and trigger transactions from the dashboard?
    Basically looking to use Dwolla’s functionality of send/receiving money but a interface of my own. Please help. Thanks!

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.