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PAY BY BANK

Instant Payments
Real-time payment processing.

Same Day ACH
Same day payment processing.

Standard ACH
Standard processing times.

FEATURES

Unified API
Fast transactions integrated with open banking all in one platform.

Automated Payments
Modernize your payments with pay by bank automation.

Mass Pay
Send multiple bank transfers with a single API request.

Open Banking Services
Instant account verification, balance checks and fraud mitigation.

Digital Wallet
Initiate faster transactions by utilizing Dwolla's Digital Wallet to hold funds.

 

Data Visibility
Access and manage your payments data through our user-friendly dashboard.

Security
Dwolla's platform is monitored 24/7/365 using a combination of internal and external tools and services.

Integration
Dwolla makes integrating pay by bank payments fast and easy.

Sandbox Environment
Simulate use cases and try out features.

Dedicated Support
Supporting your payments journey every step of the way.

SOLUTIONS

Enterprise
High-transacting payment automation

Balance
A digital wallet solution 

Connect
Direct bank connections 

INDUSTRIES

Insurance
Modernize outdated insurance payments

Real Estate
Revolutionize your real estate payments

Lending
Accelerate your lending operations

Healthcare
Elevate your healthcare payments

Manufacturing
Transform your manufacturing payments

USE CASES

B2B Payments
Streamline your business payments

Unload/Load Digital Wallet
Seamlessly move funds on and off your platform

Payouts
Pay out funds quickly and securely

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2 min read

Maximizing Cost Savings: The Power of A2A Payments in Insurance

Every dollar saved is a dollar that can be directed toward protecting policyholders. Traditional payment methods, however, can be a major drain on resources, with their reliance on paper checks and manual processes. Enter A2A payments (also known as pay by bank payments) as a game-changer that's revolutionizing how insurance companies handle finances.

Comparison image of traditional payment methods (checks and cash) vs digital payment methods, with digital payments represented as more efficient and secure.

Cost Savings with Every Transaction

A2A payments bypass the middleman, eliminating the hefty fees associated with credit card processing. This translates to significant cost savings, especially considering the high volume of transactions insurance companies handle. Plus, say goodbye to the expenses of printing, mailing, and managing paper checks. Pay by bank payments streamline operations and keep your bottom line happy.

Speeding Up the Money Flow

Time is money, and traditional methods can leave insurers and policyholders waiting. Paper checks take days to mail, deposit, and clear, and credit card transactions come with processing delays. A2A payments can be lightning-fast. Especially with RTP and FedNow transfers, funds are transferred near-instantly, improving cash flow and payment predictability for insurers and delivering a more satisfying experience for policyholders.

Diagram illustrating how Dwolla's API simplifies payment processes for businesses and developers.

Building a Fortress Around Your Finances

Security is paramount in the insurance industry, where sensitive data is constantly in play. Data breaches and fraud events can be very costly for a business, and not just financially. Insurers can also experience reputational damage and loss of trust between them and their policyholders. Digital payment solutions offer a layer of protection that traditional methods can't match. Funds move directly between bank accounts, eliminating the risk of intercepted, forged, or altered checks and/or stolen credit card information.

Happy Policyholders, Happy Business

Imagine a world where policyholders can pay premiums or receive claims with just a few clicks. Pay by bank payments make this a reality, fostering a seamless and hassle-free process that builds trust and loyalty. Having this competitive advantage can mean increased policyholder acquisition and retention, which leads to increased revenue for the business.

Better Cash Flow Management

No more waiting for checks to clear or manually tracking transactions. With an A2A payments API, you have a clear picture of your cash flow and increased payment predictability, empowering you to make informed business decisions and optimize your financial resources. You also have the information and notifications you need to easily and efficiently track down and solve payment issues, saving your internal teams time and money.

Want to learn more? Check out our latest guide: Understanding A2A Payments and Their Role in Insurance Payment Processing.

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