API 0.2.101
3 months ago by Rachel Vaughan
Released into Sandbox: September 26, 2024
Released into Production: October 1, 2024
API 0.2.101 contains various bug fixes and system improvements including the below:
- FedNow is live!
- With this, Sila now offers both instant payment networks for bank rails (the other being RTP). If you’re currently using our ACHNow product, no action is required – just continue to give us the routing and account numbers and we’ll find the fastest, cheapest available means, without you having to specify network or anything.
- You can also specify FedNow when you use our /transact API, by specifying “fednow” as the route you wish to choose, in the same way you would for RTP or ACH.
- We see adding FedNow as a huge complementary step forward in coverage, as FedNow participants tend towards smaller, more community banks that aren’t on RTP.. Already, our initial testing shows a 10-20% increase in credit coverage over RTP alone, with many more institutions signed up to live soon. We’re happy to do an analysis of your bank payments to see what your immediate benefit would be.
- If you’re not already using the instant payment networks, there’s never been a better time to start - contact your rep for more information.
- We have now enabled the ability to enable both JWT and ECDSA authentication on a single app. Use this feature to assist with migrating from ECDSA to JWT.