Banking Comparison: Modern Treasury vs. Sila

Banking Comparison Modern Treasury vs. Sila

If you’ve got a great business idea that involves payment options and you’re looking to make that dream a reality, then you’ve likely stumbled into the many compounding regulations associated with banking in the United States. 

Luckily, there are banking apps and payment software that can support you in this endeavor without requiring you to learn all about financial payments to become a fully licensed bank. 

Banking services, like payment APIs, are key to making your business idea flourish. You can still provide payment options in your web portal or app while maintaining streamlined and cost-effective business operations. 

In your search, you may have come across payment powerhouse Sila and wondered how we differentiate ourselves from other contenders like Modern Treasury. 

We’re here to help:

Payments Operations Software

Modern Treasury calls themself a payments operations software, which falls under the slew of definitions for payment technology that is available to businesses of any size. 

Payments operations software has no industry definition, but it refers to a software or technology with power of controlling, managing, and allowing users like our clients the ability to access money control and money management. Modern Treasury defines it as “the workflows that move money for companies.”

In essence, with a payments operations software, you might have access to things like bank accounts, the ability to create accounts, account management, user verification (KYC/KYB), and much more. 

What each banking technology provides will be different. In general, though, these services are business-to-business payments, and they support a range of features. On the back-end, the app can handle the baseline operations for money sending, such as processing approvals, initial financial transactions, and managing issues or return codes. 

Don’t get confused by the many different names for payment technology, and instead, ask yourself what you need when choosing a payment technology partner. 

What Modern Treasury Offers

At the core of Modern Treasury’s business model, they power payment operations solutions. With a range of tools to choose from, users can automate the entire money movement cycle. This might include payment initiation, payment approval, reconciliation, and more. 

Like most payment technologies out there, Modern Treasury is essentially run through an API that can be connected within a company’s application, web-based portal, and more. The user can modify the features of the API (to an extent) and test its features in a sandbox.

Upon looking into Modern Treasury’s products, you’ll see a listing of items, including:

  • Payments
  • Controls
  • Counterparties
  • Ledgers
  • Automatic reconciliation
  • Continuous accounting
  • Bank connectivity 

In reality, their product is one API that can be used for sending payments (ACH, wire, and RTP processing), managing counterparties for consumers and businesses, and then tracking the payments and activities using webhooks. 

The payment API requires that you connect with your bank first, and then you can set up automated payments, send a one-time fee, or look into movement on returned payments.

The additional features like payment controls, counterparty allowances, and KYC are all part of the Modern Treasury API. Users can manage ledgers through a web app, identify bookkeeping errors quickly, and manage account controls through role-based actions.

What Sila Offers

Sila is a banking API that offers a payment API and a wallet API option. Through our fully compliant and comprehensive payment suite, our users will find that they can rest easy throughout the payment process. 

The Sila APIs, which can be tested in our sandbox, provide KYC/KYB user verification (which is scalable based on the user’s needs) and comes with compliance-as-a-service so that our clients don’t have to be well-versed in all of the compliance regulations across US state lines. 

Our API is more than payment operations, as we offer: 

  • A full-stack payment API and wallet API
  • The ability to send crypto transfers for international banking transactions and open banking
  • Easy and transparent money transfer account reciliation and ledger controls
  • A partner to help with compliance and reconciliation

Our key offerings include an ACH API and a bank wallet API. Through each, you can scale to whatever your business needs. We are a bank agent, so you don’t have to link your bank or learn compliance regulations. Our APIs come fully compliance-as-a-service and infrastructure-as-a-service.

Rest easy with the Sila API:

  • Banking-as-a-service as our own bank agent
  • KYC and KYB integration
  • An API sandbox for testing
  • Cryptocurrency transfers for international payments
  • ACH transfer API
  • User metrics and analytics
  • Low fee ACH transfers (as little as $0.10 per API request)
  • Bank wallet API
  • US bank account linking
  • In-app payments

Starting up with a banking service is difficult. Therefore, the Sila API takes away that step of compliance and includes it in our app features. 


This will save you thousands of unforeseen costs that other bank service providers can’t provide. You don’t have to figure out the legal or compliance requirements for each US state. As your partner, we help you with this and provide much of the knowledge and guidance you need. 

How Sila Differs from Modern Treasury

Modern Treasury prides itself on the ease, visibility, and accessibility of managing the full money cycle. When in reality, competitors like us here at Sila also offer these features and additional perks. 

Similar to Modern Treasury, debits and credits can be initiated as an ACH transfer, sent automatically or scheduled, and you can control the back-end with ease. Your team can manage the reconciliation process and monitor metrics.


However, at its core, Sila offers so much more than a back-end banking app. Sila provides users with the ability to link a bank account securely, send ACH transfers, and store funds in the FDIC insured account. Our clients have full access to Sila’s accounting ledger for streamlined reconciliation, bookkeeping, and account management. 

We can also give your company more options in terms of what you can provide for your users. 

Through Sila, you can create just a banking wallet or an account with the ability to send ACH transactions. On top of that, users can send money internationally through cryptocurrency, opening up the doors to a more equitable financial world. 

Fees are low, the time it takes to send and receive money is fast, and your Sila API can be completely customized and white-labeled for a professional-quality product. 

One thing that we here at Sila pride ourselves on, over and above our competitors, is that we are your banking partner. With our compliance-as-a-service and infrastructure-as-a-service business model, you don’t have to worry about learning all state and federal banking regulations. We support you through this process, and we ensure that you are remaining compliant inherently through the payments API. 

If you were to go with Modern Treasury, you would be forced to not only be compliant over a range of banking regulations, but you would have to maintain that compliance year-over-year.