Live data from Hacker News

Increase: Banking API

increase.com

21–30 of 305 posts

Re: Increase: Banking API

#21
post #3

How is this different from Stripe Treasury?

Who are the target customers of Stripe Treasury? Existing banks who are fully ultra integrated with legacy mainframe offerings? Who is looking into open a new bank/credit union and like... how much money is needed? How do you compete with Ally or any other "online" bank? How do you build trust and get people to give you their money, and for what benefit to them?

I don't see how this addresses the problem of building trust, though.

Re: Increase: Banking API

#22

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…

Do you consider non-US remote?

Re: Increase: Banking API

#23
post #12

It sounds cool, but I don't fully understand: is this a fully-fledged US bank (with a banking license, FDIC insurance, audited,...) that allows you to do all banking transactions through an API, or is this a framework that you can use if you are already a bank to expose all your transactions through an API, or something else?

[deleted]

Re: Increase: Banking API

#24
post #22

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…

Do you consider non-US remote?

Certainly!

Re: Increase: Banking API

#25
Their lead UI guy was previously the UI lead at Stripe. I think of him as someone who appreciates and understands the importance of well-thought-out UI so I'm looking forward to how Increase pans out for that reason in particular.

Re: Increase: Banking API

#26
post #12

It sounds cool, but I don't fully understand: is this a fully-fledged US bank (with a banking license, FDIC insurance, audited,...) that allows you to do all banking transactions through an API, or is this a framework that you can use if you are already a bank to expose all your transactions through an API, or something else?

They are not a full-fledged bank, they partner with banks to provide the FDIC insurance, etc.

There are a number of competitors in this "Banking as a Service" API space like Treasury Prime and Galileo.

Re: Increase: Banking API

#28

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…

do you have anyone on your enterprise BD/sales team? or is it too early for that type of role?
Post reply on HN