Increase: Banking API (increase.com)

Article summary

Increase is an API-first bank that provides comprehensive infrastructure for moving, storing, and lending money, allowing technology companies to build financial products with flexibility, reliability, and transparency. The platform offers bare metal payments, full stack card issuing, and modular compliance, among other features. Increase partners with existing banks to provide its services, ensuring that customer deposits are insured by the FDIC. The company aims to support ambitious technology companies in launching and scaling financial products.

Main themes

• banking as a service
• payment processing
• financial technology
• regulatory compliance
• cost and fees
• alternative solutions
• target market
• use cases

What commenters say

• Some commenters are confused about the purpose and benefits of using Increase, questioning its value proposition and potential uses.
• Others see Increase as a potential tool for financial fraud and phishing schemes, while some argue it has legitimate uses for non-bank businesses.
• A few commenters have personal experience with payment processing and see Increase as a potential solution to their current pain points, such as manual payment processing and high fees.
• There is disagreement about the uniqueness of Increase's offering, with some comparing it to existing services like Stripe Treasury and others seeing it as a workaround for traditional banks' poor UI/APIs.
• Some commenters are concerned about the potential costs and fees associated with using Increase, and whether it would be a cost-effective solution for their specific use cases.
• Others suggest alternative solutions, such as using payroll companies or existing payment processing services, to address the problems that Increase is trying to solve.
• A few commenters note that Increase's service is not a replacement for a traditional bank, but rather a way for non-bank businesses to offer banking-like services to their customers.
• There is also discussion about the target market for Increase and whether it is suitable for businesses with specific needs, such as international payments or low-fee transactions.