PORTLAND, Ore. – November 9, 2022 – Sila Inc., a fintech software platform that provides payment infrastructure as a service, and MX, a leader in Open Finance, today announced that they have completed integration work of MXapi Processor Tokens with Sila. This will allow Sila customers and their end users to more easily and securely verify bank accounts and account data for fraud mitigation and account balance checks. The use of processor tokens is the latest result of the strategic partnership between Sila and MX.
The kinetic energy powering the open-banking wave continues to build. On Thursday, fintech Sila Inc. and MX Technologies Inc. announced tokenized integration for bank-account verification through MX’s MXapi Processor Tokens. The tokens will enable clients of Sila and their end users to digitally verify bank accounts and account data for fraud mitigation and account balance checks. Among other businesses, Sila processes automated clearing house transactions.
The fintech industry talks a lot about bank-fintech and fintech-bank relationships. Everyone in this industry will proudly declare how essential these partnerships are for everyone in the value chain. However, the recent introduction of crypto and decentralized finance (DeFi) is complicating things. How can a traditional financial (TradFi*) institution like a bank align itself with a DeFi startup or get involved in crypto? Hear insights from Sila CEO and Founder Shamir Karkal.
Nasdaq TradeTalks Sila CEO Shamir Karkal joins Jill Malandrino on Nasdaq TradeTalks to discuss how the macro-economic environment is impacting the FinTech space, crypto, and advice for young entrepreneurs experiencing their first downturn.
Fabrica has done what many have wanted to do for years, but largely failed to do. They have put real estate on the blockchain. Putting something “on the blockchain” via an NFT is not an end in itself. What is more important is that Fabrica solves a real problem—lowering the costs and increasing the speed of transacting in the real estate market.
We’re excited to announce that the Charlie Finance team is joining Chime! This talented group, whose mission is aligned with Chime’s, will continue working on new and better ways to provide people more control over their financial lives.