Increase Analysis
What is Increase?
Increase provides banking APIs for technology companies that need to move, store, and reconcile money programmatically. The product exposes ACH, cards, wires, checks, RTP, FedNow, and Push-to-Card through developer tooling and documentation. Customer references and site copy show usage in bill pay, payroll, wallets, embedded lending, fund administration, and sponsor banking.
Location
156 5th Ave, New York, NY 10010, United States
Employees
11-50
Founded
2020
Investors
- Y Combinator
Product Features & Capabilities
- ACH, FedACH, Cards, Visa, Bank accounts, Wires, Checks, RTP, real-time authorizations, custom card issuance, tailored compliance programs, same-day ACH, unlimited account numbers, Fedwire, Check 21, FedNow.
Pricing
- Monthly fees vary by use case.
- ACH processing:
- Same-day ACH origination: $2.00/transaction
- Next-day ACH origination: $0.50/transaction
- ACH returns: $5.00/transaction
- Unauthorized returns: $15.00/transaction
- Late return request processing: $25.00/transaction
- Wire processing:
- Wire origination: $15.00/transaction
- Wire drawdown origination: $15.00/transaction
- Check issuing:
- Printing and mailing fulfilled by Increase: $3.00/check
- Printing and mailing fulfilled by a third party: Contact Sales
- Check deposit:
- Remote deposit capture: Contact Sales
- Lockbox check deposits: $10.00/check
- Check returns: $10.00/check
- Card processing:
- Virtual card creation: $0.25/card
- Physical card creation: First 5 free, Contact Sales for additional
- Real-Time Payments processing:
- RTP origination: $0.50/transaction
- Request for payments origination: $0.50/transaction
- Account Numbers:
- Account number creation: First 10 free, Contact Sales for additional
Market Focus
Increase primarily focuses on the financial technology (fintech) industry, providing enterprise-grade banking APIs for technology companies to manage financial transactions programmatically.
Competitors Overview
The main competitors of Increase in the banking API market include:
-
Treasury Prime:
- Overview: Treasury Prime offers a banking API that provides access to a live (production) environment and a test (sandbox) environment, allowing developers to test their applications without affecting real accounts or incurring costs.
- Advantages: The dual environment setup is beneficial for developers, as it allows for safe testing and integration before going live. Treasury Prime also focuses on providing a seamless integration experience for banks and fintech companies.
-
Galileo Financial Technologies:
- Overview: Galileo provides an open API platform that enables companies to create competitive digital banking and embedded payment experiences. Their API documentation includes guides for various functionalities, including payment processing and card issuance.
- Advantages: Galileo's platform is known for its advanced payment capabilities and flexibility, allowing businesses to adapt to changing consumer behaviors. They offer a comprehensive suite of services that can cater to a wide range of financial needs, making them a strong competitor in the market.
Notable differences between these competitors and Increase include the specific features offered, such as the sandbox environment from Treasury Prime and the extensive payment capabilities from Galileo, which may appeal to different segments of the market.
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