Increase, a banking infrastructure and API provider used by FinTech companies including Gusto, Ramp and Stripe, has launched Increase Bank, an FDIC-member banking institution designed to provide technology companies with programmable banking infrastructure.
The new bank combines regulated banking services with Increase’s modern banking technology stack, giving FinTech companies direct connections to payment networks including the Federal Reserve, The Clearing House and Visa. Increase said the platform is designed to give product teams greater control over accounts, balances and transactions while enabling faster development of financial products.
Increase’s technology acts as the system of record for balances and transactions, with reconciliation against the Federal Reserve in real time. The company said this approach allows FinTechs to manage banking operations with greater flexibility while reducing reliance on traditional banking infrastructure.
The company provides APIs and infrastructure for money movement, account management and card issuance, supporting financial products used by some of the largest FinTech and software platforms in the US.
Increase said banking products and services are offered through Increase Bank and its partner banks, all Member FDIC, while technology services are provided through Increase Technologies, a non-bank entity.
Increase founder Darragh Buckley said, “This is a bank built by a team of product-obsessed operators for ambitious companies that are just as obsessed with building the best possible products for their customers. It is programmable at scale and designed for reliability, speed, and flexibility.”
Increase advisor Diede van Lamoen said, “A FinTech company’s ability to scale often comes down to whether they have a banking partner that can move at their pace, build solutions to the edge cases they are solving, and give them direct access to payment rails.”
Ramp co-CEO Karim Atiyeh added, “Increase provides the banking infrastructure we need to do just that. From the ability to open accounts synchronously, fully featured for every payment rail, from day one to the pace they ship new features, Increase just gets it.”
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