Increase will have to partner with banks to provide the service, so you won't have to be an actual capitalized bank yourself, and you won't have to go find one.

Increase will have to partner with banks to provide the service, so you won't have to be an actual capitalized bank yourself, and you won't have to go find one. You can see in the fine print at the bottom of their page: "Bank accounts and banking services are provided by Increase’s partner banks, members FDIC." The only way they can provide all this functionality is to do all the hard work of integrating with whatever legacy junk the partner bank is running (along with all the Visa stuff, Stripe stuff, and whatever else they are using here). You could actually do this yourself, and some fintechs are attempting that, but it's very hard and expensive due to the PCI-DSS requirements, among other things. I'll be curious to see if they will require their customers to have PCI-DSS or if they'll be able to tokenize everything in a way that doesn't require it. When I worked at Visa the big issue was that handling card data, even after tokenization, required PCI-DSS, which of course makes no sense, but the immune systems around the payments industry takes a long time to change.