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Increase: Banking API

increase.com

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Re: Increase: Banking API

#4

Post by MuffinFlavored »

amccloud wrote: 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?

Re: Increase: Banking API

#5

Post by iancmceachern »

randomcatuser wrote: post #2

I'm a bit confused about why one would want to do this! If you become your own bank, what are the pieces you have to do yourself? (I imagine things like fraud?)

It seems like a great tool for financial fraud, phising schemes, laundering. What non-nefarious uses would it have?

Re: Increase: Banking API

#7

Post by impulser_ »

randomcatuser wrote: post #2

I'm a bit confused about why one would want to do this! If you become your own bank, what are the pieces you have to do yourself? (I imagine things like fraud?)

You're not actually becoming a bank. They are just providing an API so you can act like a bank. Your money is still going to be held by an actual bank. The banking services are still being provided by an actual bank.

Re: Increase: Banking API

#9

Post by dang »

randomcatuser wrote: post #2

I'm a bit confused about why one would want to do this! If you become your own bank, what are the pieces you have to do yourself? (I imagine things like fraud?)

Submitted title was "Increase: Become your own bank". Since that seems to be a bit confusing and I don't see that text on the page, I've reverted the title to what the page says.
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