Eden Savings & Sila

Powering fintech gamification and unique experiences in fintech and investing

THE GOAL

Passionate About Financial Learning and Gaming, Eden Savings Allows Users to Be a Part of the FInancial “Gaming” World in the Palm of Their Hands

Founder David Wolfenden wanted to find a way to get more of his friends interested in investing. And the combination of virtual gaming and visual investment made this possible. 

With millions of people “investing” in online gaming, David capitalized on this interest by creating a game that is powered by real-world investing. 

With his background as a self-taught coder, David was excited to build the app. However, he needed access to financial features. With all the red tape and time costs, David knew he could turn to Sila to help outsource the financial features part of it.

Eden Savings & Sila: At a Glance

Powering the future of fintech leaders through gamified world-building and financial learning. 

Through sila’s sophisticated fintech api technology, Eden Savings powers fintech gamification, giving users unique experiences in fintech and investing

It started with a simple, yet brilliant, idea as a student. CEO and Founder of Eden Savings, David Wolfenden, was fascinated with investing and savings, but when he looked around, he realized that all his friends were playing games. Few were interested in investing because they found it “boring.” 

Well, David thought, why not combine these two interests? 

David’s idea to repurpose the video game concept for finances is a great way to make finances fun and approachable for more people. 

A self-taught developer, David eventually built the Eden Savings app: 

  • The Eden Savings app is a video game financial learning app. Each user who signs on gains access to the Eden world and is given a virtual “island” to represent their portfolio. 
  • Users start with a small, digital patch of land, which users can “invest” in more as they make real-time investments through the platform. 
  • Users are incentivized and rewarded the more they invest. The virtual world can be upgraded, with things like a windmill for clean energy fund, or the ability to visit other people and see their islands. 

The Eden Savings app is a first-of-its-kind virtual investment and learning app that helps to make investment success visible. And it was only made possible with the Sila infrastructure. #Sila #infrastructure

Without Sila

  • Figuring out KYC and AML on his own.
  • Sourcing a secure way to collect bank account information to funnel the investment process.
  • Trying to build an API stack that bridges all areas of the ecosystem (savings, investing, and donations) into one app.
  • Getting rejected by 13 banks to open a company checking account for his neobank.
  • Doing this whole thing on his own.

With Sila

  • Tapping into Sila’s features like the KYC/KYB API and other AML compliance requirements. 
  • Trusting in Sila’s secure bank account linking API partners, knowing that data collection best practices are being followed and David doesn’t have to worry about securely storing sensitive banking info through Eden Savings.
  • Relying on Sila’s strong infrastructure and fintech partnerships, David can always access the parts of the financial ecosystem that matter most.
  • Getting set up with a trusted checking account that can easily work with Sila.
  • Knowing he has a partner in Sila, with him along the way as he starts his product and continues to grow into new areas.

A new financial world, built by you.

Sila offers a simple, secure, and scalable banking API to make money programmable with built-in regulatory compliance.

Results

Powered by Sila architecture, Eden Savings can finally make finance fun for everyday people. And he could rely on Sila to support him while navigating the many compliance requirements in fintech. Sila supports its customers so that they can navigate anti-money laundering laws and Know Your Customer (KYC) compliance with Sila’s KYC API to get up and running fast.

When you sign up for an Eden Savings account, each user gets an island. The more investments that you make through Eden, the more your portfolio grows. While Eden is a great way for veteran investors to diversify their portfolios, it’s really a powerful app to get people who are “scared” of investing started.

Eden Savings works with Sila and the bank account linking API to provide users with secure bank account connections. Investment money for the app can be transferred into the Eden Savings new digital wallet API.

Now, more than ever, Eden Savings makes investing fun. They took it literally when we said that “money is a game.” With world-building and virtualization features, Eden Savings takes investing to a whole new level!

Playfora Results

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Sila has been a huge help in KYC and AML and also for customers to ACH money in, link bank accounts. Smoothing the entire financial process at the core of what we are building. A Godsend.

The Results

Combining unique gaming architecture with Sila’s back-end support, Eden Savings powers virtualized, digitalized, investment gaming. For those new to gaming, users get a digital world and can watch it grow alongside their portfolios. 

Sila’s embedded compliance features made all the red tape far less of a roadblock. Sila comes with:

  • An ACH API
  • KYC/KYB identity verification features
  • And crypto (smart contract) technology support

With access to each of these APIs, Eden Savings doesn’t have to set up core financial infrastructure. It gains access to powerful money transfer technology within seconds. It can also offload alot of the compliance features it needs because data is not collected by Eden Savings themselves, and they can tap into Sila’s status as a bank agent with Evolve Bank & Trust to send money securely. 

The Results

Combining unique gaming architecture with Sila’s back-end support, Eden Savings powers virtualized, digitalized, investment gaming. For those new to gaming, users get a digital world and can watch it grow alongside their portfolios. 

Sila’s embedded compliance features made all the red tape far less of a roadblock. Sila comes with:

  • An ACH API
  • KYC/KYB identity verification features
  • And crypto (smart contract) technology support

With access to each of these APIs, Eden Savings doesn’t have to set up core financial infrastructure. It gains access to powerful money transfer technology within seconds. It can also offload alot of the compliance features it needs because data is not collected by Eden Savings themselves, and they can tap into Sila’s status as a bank agent with Evolve Bank & Trust to send money securely. 

Powered by Sila architecture, Eden Savings can finally make finance fun for everyday people. And he could rely on Sila to support him while navigating the many compliance requirements in fintech. Sila supports its customers so that they can navigate anti-money laundering laws and Know Your Customer (KYC) compliance with Sila’s KYC API to get up and running fast.

Eden Savings works with Sila and the bank account linking API to provide users with secure bank account connections. Investment money for the app can be transferred into the Eden Savings new digital wallet API.

When you sign up for an Eden Savings account, each user gets an island. The more investments that you make through Eden, the more your portfolio grows. While Eden is a great way for veteran investors to diversify their portfolios, it’s really a powerful app to get people who are “scared” of investing started.

Now, more than ever, Eden Savings makes investing fun. They took it literally when we said that “money is a game.” With world-building and virtualization features, Eden Savings takes investing to a whole new level!

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A new financial world, built by you.

Sila offers a simple, secure, and scalable banking API to make money programmable with built-in regulatory compliance.