Increase Brings Banking and Banking Infrastructure Under One Roof
API-first banking fintech Increase has launched Increase Bank, integrating modern banking infrastructure with a focus on helping businesses develop financial products. The new bank, which is an FDIC-member institution, offers a custom-built banking core with direct connections to major financial entities, such as the Federal Reserve and Visa.
This move positions Increase uniquely by combining traditional banking services with innovative technology, enabling businesses to seamlessly create and launch tailored financial solutions. The launch signifies a strategic expansion for Increase, leveraging its established infrastructure to attract new clients seeking integrated banking capabilities.
Key takeaways
- ▸Increase Bank is an FDIC-member institution, enhancing its credibility in the banking sector.
- ▸The bank features a custom-built core capable of connecting directly to key financial networks.
- ▸This launch allows businesses to more easily create and launch their financial products using Increase's technology.
Why this matters
This consolidation of banking services and infrastructure may affect the competitive landscape, enabling Increase to attract fintechs and businesses that require robust banking solutions without needing to rely on third-party services. Traditional banks may find increased competition from agile, tech-driven institutions offering integrated solutions, potentially challenging their customer base.
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