Sila, Digital Geco Launch Nitro to Build Finech Apps

Sila Inc., a fintech software platform that provides payment infrastructure as a service, and Digital Geko, a web and mobile app developer, launched Nitro, a set of modules created to build fintech apps that come pre-populated with key software components of the Sila ACH API, ready to be customized by fintech entrepreneurs.

Deploying Nitro’s set of baseline software components including a mobile application lowers the cost of entry and speeds up time to market as compared to building an application from scratch. Sila and Digital Geko also announced a strategic partnership, making public their long-standing collaboration.

The mobile app is available for Android and iOS. Key functionality includes registering users and companies, enabling KYC/KYB processes, creating digital wallets, linking bank accounts, depositing funds to and withdrawing funds from digital wallets, and transferring money between wallets. Fully integrated out-of-the-box, Nitro handles events from Sila using webhooks.

“Fintech startups sometimes falter because it takes them too long to put their technology infrastructure – including a mobile app – in place and get it working properly. They might run out of funds, or a competitor might swoop in and take market share,” said Miguel Muñoz, CEO of Digital Geko. “We developed Nitro with the goal of supporting every fintech entrepreneur who has a great idea with the infrastructure that they need to realize it. Nitro is like a plug-and-play piece of software that addresses key payment infrastructure needs, allowing entrepreneurs to focus on building their business and brand.”

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