Customer story
Ramp launches Ramp Treasury, powered by Increase
Neither Increase nor Ramp is a bank. Bank Services for Ramp Business Account are provided by First Internet Bank of Indiana, Member FDIC.
Ramp Treasury
Ramp[0] is a financial operations platform that helps companies achieve more by spending less. From spend and expense management to bill payments and vendor management, Ramp’s all-in-one solution is designed to automate finance operations and help businesses grow efficiently.
With the launch of the Ramp Treasury, Ramp has further expanded its suite of financial tools, offering an all-in-one cash and treasury portfolio that puts customers’ operating cash to work.
With the launch of the Ramp Treasury, Ramp has further expanded its suite of financial tools, offering an all-in-one cash and treasury portfolio that puts customers’ operating cash to work.
The problem
After successfully launching and scaling its Bill Pay product with Increase, Ramp identified a customer need for consolidating cash management and bill payments through one platform. They needed a technology partner that would help them get to market quickly; enable faster payments between Ramp products so customers could maximize rewards on their operating cash, and reliably handle a rapidly growing customer base with increasingly complex funds flows. They also needed a bank partner to provide access to FDIC insured deposit placement services[1,2] for added protection.
“We saw an opportunity to create a unified cash management experience for our customers,” said Nik Koblov, Ramp’s EVP of Engineering. “When we began looking for the right infrastructure partner, Increase was the obvious choice.”
“We saw an opportunity to create a unified cash management experience for our customers,” said Nik Koblov, Ramp’s EVP of Engineering. “When we began looking for the right infrastructure partner, Increase was the obvious choice.”
The solution
To address these challenges, Ramp partnered with Increase and First Internet Bank of Indiana, Member FDIC to launch the Ramp Business Account[0], the backbone of the Ramp Treasury solution. Ramp chose to work with Increase for a few reasons:
“We saw an opportunity to create a unified cash management experience for our customers. When we began looking for the right infrastructure partner, Increase was the obvious choice.”
Fast money movement between product offerings
Through Increase’s direct connections to the underlying financial networks, Ramp uses instant Account Transfers and accesses all three same-day ACH windows, ensuring fast and reliable payment flows between a customer’s Ramp Business Account and their Bill Pay account.
Automated sweeps to extended FDIC insurance[1,2]
Ramp customers can securely store multi-million dollar deposits in the Ramp Business Account through Increase’s bank partnerships and technical connections to the IntraFi deposit placement network.
Reliable infrastructure built for scale
Increase’s commitment to operational reliability, including redundant connections to the Federal Reserve, ensure that Ramp can continue to grow quickly. Ramp processes over $10 billion in annual Bill Pay payments through Increase, and is already seeing rapid adoption of cash deposits in the Ramp Business Account provided by First Internet Bank of Indiana, Member FDIC.
Through Increase’s direct connections to the underlying financial networks, Ramp uses instant Account Transfers and accesses all three same-day ACH windows, ensuring fast and reliable payment flows between a customer’s Ramp Business Account and their Bill Pay account.
Automated sweeps to extended FDIC insurance[1,2]
Ramp customers can securely store multi-million dollar deposits in the Ramp Business Account through Increase’s bank partnerships and technical connections to the IntraFi deposit placement network.
Reliable infrastructure built for scale
Increase’s commitment to operational reliability, including redundant connections to the Federal Reserve, ensure that Ramp can continue to grow quickly. Ramp processes over $10 billion in annual Bill Pay payments through Increase, and is already seeing rapid adoption of cash deposits in the Ramp Business Account provided by First Internet Bank of Indiana, Member FDIC.
“Increase has been a critical partner in helping us launch a product that feels as modern and intuitive as the rest of Ramp’s offerings,” added Koblov. “The flexibility and transparency is unmatched.”
Building on past success
The launch of Ramp Treasury builds on the proven partnership between Ramp and Increase. Just as Increase’s infrastructure helped streamline and scale Ramp’s Bill Pay product, it now powers a cash management solution that integrates seamlessly with Ramp’s existing suite of tools.
“Collaborating on Ramp Treasury is a natural evolution of our partnership with Increase,” said Koblov. “We’re leveraging the same core principles that made our Bill Pay product successful: transparency, control, and scalability. We’re excited to continue innovating together.”
“Collaborating on Ramp Treasury is a natural evolution of our partnership with Increase,” said Koblov. “We’re leveraging the same core principles that made our Bill Pay product successful: transparency, control, and scalability. We’re excited to continue innovating together.”
[0] Ramp Business Corporation is a financial technology company and is not a bank. Bank Services for Ramp Business Account are provided by First Internet Bank of Indiana, Member FDIC. API Services for the Ramp Business Account are provided by Increase Technologies, Inc.
[1] Deposit placement through ICS is subject to the terms, conditions, and disclosures in the applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC.
[2] FDIC deposit insurance only covers the failure of the FDIC insured bank.
Products used
Bank accounts
ACH Payments
Increase is not a bank. Banking products and services are offered by Grasshopper Bank, N.A., Member FDIC and First Internet Bank of Indiana, Member FDIC. Cards Issued by First Internet Bank of Indiana, pursuant to a license from Visa Inc. Deposits are insured by the FDIC up to the maximum allowed by law through Grasshopper Bank, N.A., Member FDIC and First Internet Bank of Indiana, Member FDIC. FDIC deposit insurance only covers the failure of the FDIC insured bank.