Does Dwolla offer identity verification?

Does Dwolla offer identity verification?

Information

Title
Does Dwolla offer identity verification?

Summary
While identity verification (IDV) is not currently included in Dwolla’s offerings, it is part of the company’s future vision for expanding its Open Banking Services. The goal is to eventually integrate additional features, including Identity Data, IDV and fraud monitoring, to further enhance the security and efficiency of account-to-account payments.

What is Identity Verification (IDV)?
Identity verification (IDV) is a process that quickly confirms identity details associated with the owner of a bank account in real-time. IDV solutions are KYC-compliant methods of verifying identities.

Dwolla plans to offer Identity Data before it offers IDV. With Identity Data, Dwolla will provide relevant identity details (name, address, email address, etc.) associated with the owner of a bank account in real-time so a business can compare those details to the information provided during sign up.

Current Capabilities of Dwolla's Open Banking Services
Dwolla’s Open Banking Services provide bank account verification and real-time balance checks. By utilizing Dwolla’s single API, you can have a one stop shop to verify your clients’ bank accounts, check their current and available bank account balances and initiate account-to-account transactions, also known as pay by bank.