The ACH Network processed 7.6 billion payments worth $19.2 trillion in Q3 2022, and ACH same-day payments reached 176.6 million. But as the volume of ACH transactions continues growing, ACH #fraud has been surging. Sila's Chief Strategy Officer and Co-Founder Shamir Karkal shares how fintech startups can combat fraud and avoid penalties from Nacha, regulators, and suppliers.
Shamir Karkal was welcomed to the Politely Pushy podcast. We learned from him that Sila means “strength” in Russian, and that having a secure payments platform (using robust APIs) is vital in a world where software is delivered over the Internet. How does Sila ensure that this payment platform is entirely secure? How does it prevent fraud and identity theft? And how are users verified to ensure zero trust and that all proprietary financial data is protected? Shamir discusses this and more in this fascinating episode.
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.