The Sila API offers compliant, programmable, white-label payments for any web, mobile, or desktop application. The API endpoints can be used to get access to traditional payment rails through identity verification and bank account linking. Sila’s API can be used to embed financial services inside applications that perform the following functions:

  • ACH Payment and Processing - Sila combines the power of Alloy Identity Verification with Plaid Account Identification and Bank Account Linking through two simple endpoints to provide best-in-class fraud prevention and registration. The API provides the following features:              

             — ACH Debit to Digital Wallet
             — ACH Credit to Bank Account
             — Bank Account to Bank Account
             — Same-day ACH (coming soon)

  • Bank Account Linking - Sila combines the power of Alloy Identity Verification with Plaid Account Identification and Bank Account Linking through two simple endpoints to provide seamless fraud reduction and new account conversion. The API performs the following functions:

  • Bank Account Balance Check - Sila uses Plaid Balance to verify real-time balances and reduce NSFs. The API verifies the following information:
           — Available balance
           — Current balance

  • Bank Account Name Matching - Sila employs Plaid Auth to securely perform the following:

              — Authenticate accounts from any of the ~11,500 banks or credit unions in the U.S.
              — Instantly connect accounts when users input their bank account credentials.
              — Maximize conversions with multiple ways to authenticate accounts.
              — Fast, simple and user-friendly experience.
              — Available for both personal and business accounts.

  • Digital Wallets - Sila's digital wallet solution enables end-users to fund a mobile wallet in record time, down to the decimal point. Sila's API supports payments and transactions between bank accounts and digital wallets for any funds flow. The API offers Cryptocurrency Wallet API that natively supports ERC-20 and Solidity smart contracts. From cryptocurrency exchange wallets who need KYC and fiat on-ramps to businesses looking to leverage blockchain technology for trustless transactions, and programmable money, Sila's Digital Wallet API is an end-to-end solution.

  • Identity Verification of Individuals - Sila uses Plaid Identity to easily verify and authenticate users' identities to reduce fraud. The following user details are verified:

              — Account holder first name          
              — Account holder last name            
              — Physical mailing address            
              — Phone number
              — Email address

  • Identity Verification of Businesses - Alloy integration is included in the Sila API and includes Alloy for KYC identity verification and a proprietary scoring model. Sila + Allow provides access to over 30 identity data providers and identifies the following:

              — Address Authentication
              — Business Identity Data
              — Email Address
              — Fraud Scores
              — Identity Document Verification
              — Knowledge-Based Authentication
              — Multi-Factor Authentication
              — Phone Data
              — Public & Private Records
              — Watchlist Screening

Sila’s partner network provides access to additional features including:

  • Apple Pay and Google Wallet

  • Branded Stablecoins

  • Bills Payment

  • Card Acquiring

  • Corporate Bank Accounts

  • Fiat-Crypto On-ramps

  • International Payments

  • No-KYC Merchant Payments

  • White-label Statement Descriptors

  • Physical Card Issuance

  • Push to Card

  • Real-time Payments

  • Securities Trading and Transaction Data

  • Virtual Bank Accounts

  • Virtual Card Insurance

  • Wires

Glossary of Terms:

  • API - Application Programming Interface

  • ACH - Automated Clearing House

  • EIN - Employer Identification Number

  • KYC - Know Your Customer

  • NSF - Non-Sufficient Funds

  • SSN - Social Security Number 

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