Nacha Announces Sila as a Preferred Partner for ACH Enablement and Payments

HERNDON, Va., June 7, 2022 /PRNewswire/ -- Sila is now a Nacha Preferred Partner for ACH Enablement and Payments.

In becoming a Preferred Partner, Sila joins an elite group of innovators that Nacha recognizes for offering products and services that align with Nacha's core strategies to promote the ACH Network.

"Nacha's Preferred Partners play a role in advancing the ACH Network to continue to deliver payments safely and quickly," said Jane Larimer, Nacha President and CEO. "Today, we welcome Sila as our newest Preferred Partner for ACH Enablement and Payments and are looking forward to working with them and other Nacha Preferred Partners to strengthen and grow the ACH Network."

Sila provides a set of APIs that simplifies the storage and transfer of money between bank accounts and digital wallets from inside an application and speeds up the go-to-market schedule for customers. Sila can also include a blockchain wallet and transfer capability if requested. Sila payment infrastructure is for companies and organizations that need to integrate with the U.S. banking system, payment rails and blockchain.

"Sila is honored to be a Nacha Preferred Partner," said Shamir Karkal, CEO of Sila Inc. "We have helped many customers leverage the ACH Network as they build their business. Their feedback has led us to build innovative products on top of ACH, such as our instant ACH product that combines risk management and fraud detection with instant funds availability."

Learn more about Nacha's growing community of Preferred Partners. For more information, visit: www.nacha.org/Preferred-Partner.

Nacha governs the thriving ACH Network, the payment system that drives safe, smart, and fast Direct Deposits and Direct Payments with the capability to reach all U.S. bank and credit union accounts. More than 29 billion ACH Network payments were made in 2021, valued at close to $73 trillion. Through problem-solving and consensus-building among diverse payment industry stakeholders, Nacha advances innovation and interoperability in the payments system. Nacha develops rules and standards, provides industry solutions, and delivers education, accreditation, and advisory services.

Sila is a fintech software platform that provides payment infrastructure as a service, a business-critical element for all companies that need to integrate with the US banking system and blockchain quickly, securely, and in compliance with applicable US regulation. Sila offers Digital Wallet & ACH Payments APIs for Software Teams. The firm was recognized as a '2021 best place to work in financial technology'. Sila is headquartered in Portland, Oregon. For more information go to www.silamoney.com

SOURCE Nacha