Company Research Report: incuto Limited

Company Overview

Name: incuto Limited

Mission: incuto's mission is to connect affordable finance providers to more people, driving sales, reducing costs, and enhancing members' digital experience by providing fair and affordable finance for everyone.

Founded: No information is available.

Founders: No information is available.

Key People: Andrew Rabbitt, CEO

Headquarters: Holiday House, Valley Road, Ilkley, LS29 8PB, United Kingdom

Number of Employees: No information is available.

Revenue: No information is available.

Known For: incuto is recognized for providing a cloud-based technology platform that empowers credit unions and community lenders to enhance their services and transform into challenger banks. It offers access to new market channels without license fees or tie-ins by charging-per-transaction.

Products

Overview

incuto offers a variety of technology solutions designed to engage members, automate services, and boost lending capabilities for ethical and affordable finance providers.

Product Offerings

1. Member Services

Description: Provides a seamless digital experience for members, including an automated Member Area.

Key Features:

Manage accounts remotely.

Secure transactions, withdrawals, and transfers.

Personalized dashboards and financial tool access.

2. Loan Services

Description: Centralizes the lending process and informs decision-making with a user-friendly interface.

Key Features:

Sends automated communications and requests additional information.

Product performance reporting.

3. Member Marketing

Description: An integrated platform for automated marketing communications.

Key Features:

Integrates marketing with the member database.

Campaign management and analytics.

Personalized communication triggers.

4. Payments

Description: Efficient payment solutions to enhance service.

Key Features:

Faster Payments, Direct Debits.

No minimum setup fees, low-cost transactions.

Quick and secure onboarding.

5. Faster Payments

Description: A partnership with ClearBank for instant funds transfers.

Key Features:

Immediate payment processing.

Automated account reconciliation.

Secure transactions with built-in Confirmation of Payee.

6. Benefits Checker

Description: Collaborates with Fair4All Finance & Inbest to integrate a benefits check service.

Key Features:

Guides members to check for benefit entitlements.

Utilizes a GDPR-compliant benefits calculator.

Co-branded with each credit union.

Recent Developments

New Products & Features

Virtual Accounts: incuto plans to offer virtual accounts by 2024, allowing members to have dedicated bank account numbers for real-time reconciliation.

Real-time Reconciliation: Upcoming feature to enable instant availability of funds for end-customers.

Partnerships

Strategic Collaborations: Partnerships have been established with ClearBank, TransUnion, and Fair4All Finance to enhance service offerings.

Exciting New Collaborations: Involving TransUnion, Bud, and Monevo to give credit unions a competitive advantage.

Corporate Activities

Conferences & Thought Leadership: Organized the "Impact & Innovation" conference in 2023 and plans to continue thought leadership sessions in 2024.

Initiatives and Goals

#GetToYes Campaign: Initiative to help underserved individuals access affordable credit.

Vision 2030: An ongoing strategic plan focusing on the future growth of credit unions and community finance sectors.

Conclusion

This report details incuto's focus on driving inclusive finance through technological innovation and strategic partnerships. The company is positioned as a leader in transforming community finance, offering a variety of digital solutions tailored to the evolving needs of credit unions and community lenders.