Wedge & Sila
Purchase fractional shares of stocks, bonds, ETFs, and cryptocurrencies and use real-time gains in the value of those assets for everyday purchases.
[Sila’s] folks made it more like a partnership, than a customer/vendor relationship.
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Wedge & Sila:
At a Glance
A payments app on a mission to bring the power of the market to everyone for everyday spending.
A smart, versatile payment app that connects other assets to virtual payment cards for contactless payments and savings as you spend.
When they first came up with the idea to spend using more than just your regular assets, Wedge founders were surprised—it didn’t exist. Now, with a financial technology backing powered by Sila, Wedge removes the friction between trading and spending allowing users to responsibly put all their money to work to save on everyday spending while incentivizing good financial planning.
Instant market access is the newfound freedom that provides the Wedge community the ultimate financial flexibility, all at their fingertips at checkout.
Sila’s powerful yet affordable technology meant that Wedge owners didn’t have to build it themselves and could rely on Sila for good code.
With patent-pending technology and Sila’s core infrastructure, Wedge gives users the ability to spend using other assets and save money while they spend money.
Financial technology is super complicated, requiring lots of regulatory compliance necessities. Sila took care of most of that
Sila’s expertise and connections in fintech allowed Wedge owners the freedom to explore product features and future add-ons.
The Goal
A Payment App giving users more flexibility around which asset to spend with and smart spending features too.
Fintech and neobanks exist in a way that is decentralized, which means that there is tons of innovation possible. This was Wedge’s goal. They saw that these cool technologies existed, and were out there, and that they could be used to improve upon traditional banking services.
Leveraging the assets that were already available in the community, users of Wedge can invest more, save more, and access spending flexibility like never before.
See how, with the help, ease, and flexibility of Sila, Wedge gives users unprecedented access to money freedom at affordable pricing.
Without Sila
- Starting a never-been-done financial app with limited support, coaching, or resources.
- Figuring out the red tape on their own.
- Trying to afford building an app, creating the technology, testing it, ensuring it was compliant, and securing the bank relationship with a bootstrapped startup.
- Finding vendors who can integrate key features like card issuance, bank account linking, and Know Your Customer.
- Piecing together apps and app aggregation while having to pay hefty fees and managing integration.
With Sila
- Partnering with Sila who has the technology, tools, and expertise to help you along the way.
- Alongside a chief legal officer, Wedge also found Sila’s built-in compliance features helpful so that the necessary documentation and compliance didn’t fall through the cracks.
- Calling on Sila’s affordable payments infrastructure with an API code ready to go and a bank agent relationship to make that part far easier.
- Having access to key features like card issuance, bank account linking, and Know Your Customer
- Using one app (Sila) and getting rid of the middleman.
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.
The Results
Every fintech has its ups and downs, and Wedge was no exception. Luckily, once Wedge partnered with Sila things started to make more sense.
With Sila as the core payments infrastructure, users of Wedge can load their assets into the account to use as tap payment where applicable. Accounts outside of standard checking and savings accounts can also be added; this includes bonds, cryptocurrencies, ETFs, and stocks. And the smart technology also recommends to users which assets to use for the most savings.
- Wedge users can purchase over 2,000 US stocks, bonds, ETFs, and commodity ETFs and two cryptocurrencies (Bitcoin & Ethereum) directly through the app.
- Users enjoy greater financial flexibility and control by saving cash in their FDIC-insured bank account.
Wedge users link to the current checking account via a Sila partner, keeping bank data secure. Assets like fractional stock, bond, ETF, and cryptocurrency shares can be loaded or purchased in the Wedge wallet and used for recurring asset purchases, periodic investment, and everyday spending. Wedge is smart enough to tell users which asset will have the most savings each time!
Result 1
Wedge founders thought that there already was a card that allowed a user to use over 2,000 assets on it to pay for everyday purchases. This card did not yet exist, so they built it on Sila’s technology.
Result 2
Early stages of the app were done on their own. However, once they decided to aggregate the app through Sila, they found things started to make more sense. Sila pieced together a lot of the fragmented parts into one streamlined, dynamic environment.
Result 3
Sila’s set up as a compliant-ready fintech code allowed Wedge owners to start sending and receiving money on the debit card through bonds, cryptocurrencies, ETFs, stocks, checking and savings accounts. The ability to use any owned asset allows end-users the option to maximize savings when selecting the asset to use.
Result 4
Sila’s core infrastructure allowed Wedge creators the ability to have an app that allowed for a lot of flexibility and control. Their smart saving features also encouraged money saving on everyday purchases by telling users which asset to use at checkout for the most savings.
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.