DwollaDwolla offers a payment platform and payment network.  The company describes it services as follows:

Simplified: Secure, ready-to-use payment tools that simplify how you pay or collect money from anyone in the U.S.

Integrated: Powerful, custom payment solutions that are easy to set up and adaptable to your organization or business.

Real-time:  “Always on” instant bank transfers, 24/7/365, for financial institutions to stay current in a real-time economy. Delight your users with a fast, lightweight onboarding experience, whether it’s ready made or custom built.

Efficient: Easy-to-use. Direct.Our ACH transfer platform securely verifies and connects your customers to their bank or credit union accounts for safe and quick transactions.

Security matters: We built our platform with security in mind. Let us help you manage the compleFinancial institutions play an important role in the Dwolla network.

About: Dwolla:  Payment-processing startup Dwolla launched back in 2010, but it experienced some nice growth in 2015. The company has raised close to $33 million, with the last funding round occurring in late 2014. However, the company got its first big bank partner in 2015, and made the move to drop transaction fees on lower transfers, signaling a push to bigger markets.

Dwolla, Inc. is an agent of Veridian Credit Union and Compass Bank and all funds associated with your account in the Dwolla network are held in pooled accounts at Veridian Credit Union and Compass Bank. These funds are not eligible for individual insurance, including FDIC insurance and may not be eligible for share insurance by the National Credit Union Share Insurance Fund. Dwolla, Inc. is the operator of a software platform that communicates user instructions for funds transfers to Veridian Credit Union and Compass Bank.xities of compliance and fraud protection, so you can focus on what really matters.

Source:  TechRepublic and Dwolla