CU-Backed Payments Venture Dwolla Launches Interactive Dashboard

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DES MOINES, Iowa – Dwolla, a payments start-up known for low-cost money transfers, has introduced new technology that provides credit unions and banks an interactive, real-time snapshot of their members’ and customers’ behavior.

Dwolla said its FiSync Dashboard uses an easy-to-understand and visually appealing format to display information. Credit union staff can learn more about their Dwolla users by accessing data such as average age, gender and type of mobile device used. They can learn where and how their Dwolla users are spending money with interactive maps and average transaction information. Personal identity information is not included in the FiSync Dashboard. Dwolla believes this information will be valuable to credit unions and banks as they develop their mobile strategies.

FiSync Dashboard will also help Dwolla maintain a close watch on transactions for the purpose of fraud prevention, the company said.

Dwolla’s main product is a money transfer service consumers and organizations use to send and receive money from their credit union or bank accounts for only 25 cents per transaction, no matter the transfer amount.

The two-year-old company is financed by venture investments made by Veridian CU and The Members Group, an affiliate of the Iowa CU League.

 

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