101–110 of 305 posts
Thanks @op! Increase employee here: We're early days and not quite ready for open sign-ups yet (sorry, known bug). We'll be more public over the coming weeks and months. We're banking for developers; you can programatically create accounts, cards, and move money. Our users are primarily financial technology companies. We're a small team from Stripe, Robinhood, and Visa building the bank we always wanted. If this soun…
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I think they provide a backend so you can issue your own cards, with bank accounts routable through normal banking systems. Payoneer famously rely on third party "back-end" banks for their services, as they issue cards, offer routable bank accounts, cash withdrawal, etc. This is an extremely niche use case of course, but it's not the first time they popped up on HN at least. In mobile ISPs, MVNOs are quite common, an…
curl -X "POST" \ --url https://api.increase.com/check_transfers \ -H "Authorization: Bearer ${INCREASE_API_KEY}" \ -H "Content-Type: application/json" \ -d $'{ "account_id": "account0", "address_line1": "33 Liberty Street", "address_city": "New York", "address_state": "NY", "address_zip": "10045", "amount": 1000, "message": "Check payment", "recipient_name": "Ian Crease" }' Well it would certainly be nice if I can se…
Thanks @op! Increase employee here: We're early days and not quite ready for open sign-ups yet (sorry, known bug). We'll be more public over the coming weeks and months. We're banking for developers; you can programatically create accounts, cards, and move money. Our users are primarily financial technology companies. We're a small team from Stripe, Robinhood, and Visa building the bank we always wanted. If this soun…
heya! i'm casually interested in the space, and also have been tracking Column ( https://column.com/ ) to a distant observer, you look similar, but i'm sure there are real differences between you, so I'd love something like a "top 3 things to note" about Increase vs Column, in a least-getting-you-in-trouble way as possible - its hard to compare because i dont know what I don't know.
I think there are many engineers who are frustrated knowing the data and capabilities that exist in banking that aren't exposed programmatically.
There are at least four (and I'm undoubtedly missing many!) interesting companies aiming to combine technology and a bank charter:
- Luna[0].
- M1 Finance[1].
- Column[2].
- Increase[3].
Building a bank involves reading, understanding, and respecting regulation. It invovles integrating with large financial networks. It involves rallying a team for a years-long adventure. Each of these is early days and it'll be a few years before any of us understands how this super large and important problem will be solved.
0. https://www.americanbanker.com/news/former-square-exec-leads...
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No good deed does unpunished.
I think this is one of the most unfortunate memes that people for some reason still continue to share. Think about what it teaches children when they hear it? What kind of a world view does it instill? By saying the phrase you are explicitly communicating the idea that it is (at least is some sense) better to not do good deeds.
There are too many evil people to willfully ignore the dangers of helping others. You should always, always be aware of the risks you’re putting yourself in any situation. In life, in work, in family, it doesn’t matter. And yes, that’s worth teaching children.
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Traditional banks have literally decades of legacy to deal with which drags them down. Many neobanks have shown that it's possible to provide a better and cheaper service when you start from scratch. A few examples of features neobanks i use provide that traditional banks don't have - virtual cards on the fly, for free; SEPA Instant for free; Open API; smart dynamic budgeting and expense sharing.
Conventional banks provide all of the above (including open banking API) except instant virtual cards here in Scandinavia, so nothing to do with building from scratch. Just a matter of priorities and healthy competition. The neobanks are all very incremental improvements, and is largely just packaging. E.g., Lunar being app-only obviously has a somewhat more modern app than the average bank.
The truth of the matter is that banking is horribly entrenched. Actual business decisions are mostly driven by arbitrary considerations of which laws to follow that day. Although we provide a ton of functionality and business capability, we are still woefully behind on any sort of compliance measure, not because compliance is hard or impossible, but because nobody is actually critically examining the systems.
The problem for the "neobank" is not one of building technology to catch up. It's in cultivating an image where they are seen as systemically critical such that they will be afforded the same leniency in policing that the established sector already has.
I made an API for a bank... I was a third party and made the API by screen scraping their webUI. I sent their devs a link and initially there were positive messages going back and forth. The API allowed you to see balance, transaction history, and make payments. Before long, the API got quite popular, and lots of people were using it to make lots of payments automatically. You know what makes money laundering super e…
I hate to be "that guy", but this is why I hate banks and like crypto. Both the fact that crypto is obviously trivial to automate, and that banks can unilaterally ban you and steal your money.
I think by the amount of "what is this" questions in this thread it's pretty clear the messaging is confusing to say the least. I'm going to pile on because even with the explanations in this thread I don't really understand what this is. Is this for B2C or B2B? Is this something I, the average consumer who happens to be a developer, could use to build my own personal finance tools?
It's a B2B2C product (sold to businesses that are building consumer fintech products). There are a bunch of neobank fintech startups whose offering is "Banking for X", where X is some segment of the population with specific needs that are not well served by traditional banks. (Here for example is X = "Spanish speakers in the US".) [0] To build a startup like that, you need to build a product layer on top of a banking…
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That, Payoneer (which has a sufficiently extensive API), and I think Stripe can also handle payouts: https://stripe.com/connect/marketplaces (possibly I'm misreading Stripe marketplaces' offerings, please correct me if I am)
Payoneer is one of the options we use to pay freelancers, in fact many of them quite like it, but for the freelancers' sake, I prefer 100% free methods like Zelle or ACH where possible because you have to pay a fee to take money out of payoneer you receive. At least it's better than paypal
I made an API for a bank... I was a third party and made the API by screen scraping their webUI. I sent their devs a link and initially there were positive messages going back and forth. The API allowed you to see balance, transaction history, and make payments. Before long, the API got quite popular, and lots of people were using it to make lots of payments automatically. You know what makes money laundering super e…
I hate to be "that guy", but this is why I hate banks and like crypto. Both the fact that crypto is obviously trivial to automate, and that banks can unilaterally ban you and steal your money.
> Anything that you can achieve with PDFs, presence, and persistence in a bank branch you can do with our API. Not sure how to take this. With a small tweak like "you can eventually do" I would let it pass without criticism. I work with bank cores, imaging, BSA and related middleware on a daily basis. The scope and complexity of these systems is incomprehensible to most. Many of our clients don't even try to think ab…