There is a lot of excitement around the Dwolla office today. Our day started with a Skype call across 5 states coordinating day 1 of the FiSync product being live in the world!
The first Financial Institution today made their integration public and much to our surprise even featured it on their home page.
Why is this cool?
Financial Institutions aren’t the antiquated, grumpy, and fee crazy people they are sometimes made out to be. The fact that an Iowa Credit Union is the first one to release this product publicly is mind blowing to me.
This credit union is now doing something with it’s members that no other bank or credit union anywhere else in the world has ever done… Nowhere else in the world can you open an account and sync up with a platform that simultaneously allows you to connect to social networks to exchange money, use your cell phone to make payments, and purchase goods and services online…
Not only that but credit union members won’t have to wait for that darn plastic card to show up in the mail 2-3 days later. The innovation here is just unbelievable. I can’t imagine I’m the only one who sees that DSM Iowa has been leading the way in mobile payments, building an eco-system, and building what is next for FI’s.
What benefits FiSync will bring FPCU members?
Members will be able to bypass the 2-3 day set up time and instantly (and securely) sync up their Credit Union account with Dwolla. The Credit Union has basically removed all the hassle of setting up a Dwolla account and worked with Dwolla/TMG to build new services to make this exceptionally fast and easy for members.
Are you wondering what FiSync is?
FiSync is a product that allows us to Sync with financial institutions (banks and credit unions) to bring the Dwolla platform into their financial institution. The norm today is that you open an account, get a few plastic cards, a checkbook, and you are on your way. We think the norm in the future will be instant access to your cash through any internet connected device. Dwolla FiSync with partnering financial institutions is making that happen and the first one in the world just happened… right here in Des Moines, Iowa.
What can you expect in the future?
A lot more of these.