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fintech startup Archive - TransSwipe - Merchant Services and Credit Card Processing

TransSwipe - Merchant Services and Credit Card Processing

Archive for the ‘fintech startup’ Category

FinTech Startup Sweep Inc. Taps into Dwolla’s API for ACH Transfers

Sweep and Dwolla

Co-founder and CEO of Sweep, Jackson Gates, took the stage this Monday to pitch his startup at the prestigious Money2020 conference in Las Vegas, the annual Woodstock for the most powerful minds in financial technology today. Not only did Sweep demo a beautiful product, but it also announced its new partnership with Dwolla.

Sweep Inc.

One year ago, Gates and his team started building the financial app they’d always dreamed of—a forward-thinking savings tool that allowed customers to easily get ahead of their bills and savings goals, so they’d never have to abide by tedious budgeting practices again.

For the founders, Sweep had everything other finance and budgeting apps were missing, such as the ability to securely import financial activity, automatically recognize recurring expenses, and have customers establish savings ‘buckets’ for frequent expenses like credit cards and utility bills. From there, customers create larger savings goals, such as building an emergency fund or saving for a vacation.


Customers can log into the Sweep iOS app at any time to get a complete snapshot of how they are doing on all of their monthly and long-term savings buckets, as well as the amount of spending money available.

The Problem

The one missing piece was the ability to provide ACH transfers to move funds on the customer’s behalf, such as from a checking account to a savings account. Customers could establish their savings buckets, but they would have to then login to their bank’s website to move the money. Gates wanted to give customers the ability to set up automatic transfers from checking to savings every payday to go toward their savings goals (i.e. emergency fund).

When Sweep set out to evaluate its options for implementing ACH transfers, it found that traditional banks couldn’t wrap their heads around what they were trying to do, and the new fintech startups just weren’t as far along in their white labeled payments capabilities.

Getting that functionality into place was a crucial part of the Sweep founders’ dream of a do-it-all financial savings app, and this fall Dwolla was able to help bring Sweep’s ingenious concept into reality.

The Solution

Today, Sweep now supports ACH transfers between all of a customer’s bank accounts. Customers create custom savings buckets on one account and schedule recurring transfers from another account to automatically fill their buckets according to their savings rules.

Sweep moves the money by leveraging the Dwolla white label functionality behind its user interface.

“Dwolla was able to offer the exact service our customers wanted whereas traditional financial institutions either didn’t understand how to do this or couldn’t move fast enough.  And the smaller payments startups didn’t quite have the processes and structures we needed. Most importantly, Dwolla knows how to be a good partner. They listened to our needs and worked closely with our team to get us ready in time for Money2020.”

Jackson Gates, CEO & Co-founder of Sweep

Jackson - Sweep

From the beautiful design to the core savings functionality, Sweep has built a user experience that feels as good as it looks. It’s a powerful tool and now has the ability to help consumers automatically achieve their savings goals and finally get ahead!  

Have questions about how Dwolla can work with you? We’d love to talk.

reach out now

A call for submissions, BBVA Open Talent 2015


BBVA Open Talent

Calling any and all fintech startups—BBVA wants to help you transform financial technology together with BBVA Open Talent 2015.

In the seventh year of the competition, BBVA Open Talent is looking for early-stage startups to explore and innovate in the banking and finance sector, and they’re looking for more than your basic tip calculator.

Does your startup support data intelligence? How about improving security or risk analysis? If your next big idea relates, this competition can be an opportunity like none-other.

BBVA Open Talent

Why apply?

BBVA Open Talent takes twenty finalists per region and provides them an opportunity to present to reputable judges, an audience of 250 fintech fanatics, VCs, and other startups the day before Finovate Fall. And while you’re responsible for the costs associated with this portion of the contest, BBVA will provide things like pitch coaching sessions and hands-on workshops. All finalists will spend the day before the competition interacting with key global BBVA executives and decision makers. Even if you don’t walk away a winner, you’ll walk away having gained new experience and insight that can’t be found elsewhere.

Judges then award two winners from each region (6 total) cash prizes and a two-week immersion course where they will spend time with BBVA executives and industry professionals in both London and Mexico.

BBVA inspiration

During the immersion course, winners will spend a week in Mexico gaining first hand experience with the LATAM market and international scaling. This is paired with a week spent in London, spending more time with venture capitalists, embracing the local startup ecosystem.  It’s access to powerful thought leaders like none other.

Rules for qualification:

  • You must be a startup created after April 1, 2011
  • Your startup is focused on or framed around fintech
  • The product or project is operative (at least able to demo or in beta)
  • You don’t exceed the funding and revenue qualifications

Scarlett Sieber BBVA


We had the opportunity to pick the brain of an BBVA Open Talent alum turned BBVA team member, Scarlett Sieber:

“My startup had applied for a lot of competitions and were finalists in a few, but no other group took as much personal interest in their finalists as BBVA. I had the opportunity to have dinner with key BBVA Executives and other global industry professionals that I would have never met otherwise.”

While BBVA may center much of their operations on banking, as a whole there’s a clear passion for developing smarter technology impacting finance. And that’s exactly what this call for talent is about—finding new, young, hungry startups ready to transform the world of finance and banking.

BBVA believes in being a true partner, and that means joining their partner companies as early in the life-cycle as possible. BBVA Open Talent 2015 is your opportunity to get in on that partnership, so BBVA can be there to guide you and your team through the challenging, sometimes confusing twists and turns of entering the Fintech industry.

Apply now, and join BBVA Open Talent 2015. Entries must be received by July 13, 2015.

©2018 TransSwipe


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