Credit unions using Sharetec Systems' data-processing system now have a simpler way for members to enroll in Dwolla's funds transfer service.
Through the new process, announced Sept. 11, those credit unions can speed enrollment for new Dwolla users by exporting member data in the proper format, Kevin Kolar, vice president data processor Bradford-Scott Data Corp., said in an interview.
If a consumer's credit union doesn't supply this field formatting properly, enrollment can take several days to complete, he says.
"I see more people using [Dwolla] because of this interface," Kolar says. "It makes it easy for members to sign up."
Indianapolis-based Bradford Scott is one of four organizations that that owns Sharetec, whose purpose is to write software its owners resell. The others include Data Systems of Texas, Northern Data Systems in Maine and GBS Corp. in Ohio.
Each now may offer the simpler registration to their financial-institution members, Kolar says, noting Bradford-Scott represents 160 of the 300 credit unions that use Sharetec's system.
"If any one of us writes an interface for anything, we provide it free of charge to any of the other partners," Kolar says.
For setting up the service, Bradford-Scott charges credit unions a fee that depends on the institution's size, he says. Dwolla charges 25 cents per funds transfer.
Dwolla Corp. in May opened up its FiSync funds-transfer service to more financial institutions, touting quicker, lower-cost transfers.