With a single API, Dwolla enables real estate businesses to automate payments, enhance security and gain better visibility into their financial operations.
Key Features of Dwolla Include:
1. Instant payments: Bank transfers are sent using the RTP® Network or FedNow® Service, completing nearly instantaneous transactions that clear 24/7/365.
2. Automated payment operations: Automated ACH replaces paper checks, credit card processing and manual ACH files to streamline repetitive tasks and reduce manual errors.
3. Enhanced security: Advanced security measures like tokenization and encryption replace sensitive financial information and authenticate data to reduce the risk of breaches.
4. Seamless integration: Easily connect existing real estate management systems, payment methods and financial institutions.
The Benefits of Modernizing with Dwolla
By adopting Dwolla, real estate companies can expect:
1. Increased Speed: Don't get left behind—this year, 90% of real estate firms plan to invest in real-time payment solutions to receive payments, and 77% plan to adopt these solutions to make payments. With Dwolla, your real estate company can reduce payment processing times from days to mere seconds.
2. Enhanced Security: Our platform employs state-of-the-art security measures, including tokenization and secure data handling, significantly reducing the risk of fraud and data breaches. Dwolla's encryption and tokenization help protect sensitive information throughout the entire payment process.
3. Lower Costs: By automating processes and eliminating manual tasks, Dwolla helps real estate firms cut operational expenses. Our account-to-account (A2A) payment rails, such as the ACH Network, RTP® Network and FedNow® Service, offer more cost-effective solutions compared to credit card fees and paper checks.
4. Improved Relationships: Faster, more reliable payments lead to happier vendors, suppliers and clients at every step of the payments process.
5. Streamlined Operations: As a single, unified API solution, Dwolla simplifies initial integration, ongoing maintenance and future development. This streamlined approach enhances visibility into financial activity, leading to improved overall operational efficiency.
6. Flexibility and Control: Dwolla's white-label solution integrates seamlessly with existing systems, allowing firms to maintain control over their brand identity and user experience. This flexibility enables firms to meet modern business needs while focusing on what matters most—stakeholder satisfaction and brand management.
7. Real-Time Data Visibility: Dwolla gives real estate firms unprecedented insights into payment flows and transaction statuses and errors.
8. Reduced Technical Debt: By replacing legacy systems with Dwolla's modern solution, real estate companies can significantly reduce the technical debt that often plagues the industry, freeing up resources for innovation and growth.
Real Estate Company Leverages Dwolla to Reduce Fraud
As a payments service provider, Dwolla makes it possible for real estate companies to replace traditional payment methods, such as paper checks and wire transfers, with ACH transactions. ACH transactions are more cost-effective and reduce the risk of fraudulent activity typically associated with wire transfers.
After one real estate fintech replaced wire transfers with Dwolla’s ACH API in 2018, the company conducted over 120,000 earnest money deposits and $700 million in real estate transactions—with zero incidents of fraud. Dwolla enhanced digital payments for this company, enabling more secure digital payment transactions, increased fraud protection and improved customer satisfaction, all within a tailored payment processing platform.
Remarking on Dwolla’s impact, the Chief Revenue Officer of this real estate fintech says, “A lot of escrow holders today are accepting earnest money payments via a wire, a certified check or a personal check—methods that are riddled with fraud. Our use of ACH transactions via Dwolla is what our industry calls good funds. It’s the best method to transfer funds because it’s safe, secure, trackable, cost-effective and easy.”
Dwolla Provides a Reliable Real Estate Payments Solution
In order to better meet customer demand, this real estate platform also replaced manual processes with the ability to electronically collect earnest money deposits and commissions. Dwolla’s API made it possible to leverage digital solutions for real estate companies, escrow holders and homeowners, eliminating the need to manually deliver paper checks and conduct other real estate transactions in person.
Through Dwolla, this company implemented a quick, safe, reliable and cost-effective payment solution able to switch between Standard ACH and Same Day ACH transfers as necessary.
Learn more in our latest guide: Transforming Real Estate Payments with A2A Payments.