incuto selected for Inclusive Economy Partnership BOOST programme

Ilkley-based Fintech incuto, which provides an out-of-the-box digital platform for Credit Unions and Community Banks, today announces its participation in the Inclusive Economy Partnership’s scale-up programme BOOST. The programme, which is run in conjunction with the Cabinet Office, DCMS (Department for Culture, Media, and Sport), The Young Foundation and EY, is designed to support innovators which provide proven solutions to social challenges including mental health, transition to work for young people and financial inclusion and capability. incuto will be working alongside a group of organisations within BOOST’s financial inclusion and capability category. Participants will have access to interactive workshops, mentoring, partnership opportunities and peer learning alongside other social innovators on the programme.

Alongside incuto, the scale-up’s taking part include IncomeMax, a service which focuses on unclaimed benefits and help with debt reduction; Settle, which focuses on providing one-to-one support for young people at risk of homelessness and We Are Digital which delivers financial and digital skills to marginalised people.

Commenting on incuto’s selection, CEO Andrew Rabbitt says: “We’re very pleased to participate and contribute to BOOST, especially at a time when demand for digital services from credit unions and community banks is ramping up significantly. Covid-19 has accelerated the need for the community banking sector to be connected, automate services and be available to their Members 24/7. We hope to use the programme to explore new ideas, ensure we are utilising opportunities and support other innovative solutions designed to promote financial inclusion and capability. We’re looking forward to getting started.”

Shevaun Haviland, Deputy Director Business Partnerships, Prime Minister’s Office and Cabinet Office comments: “We’re delighted to launch BOOST, a new scale-up programme for innovators with proven solutions to social challenges. The IEP brings together business, civil society and government to tackle the UK’s most pressing social and economic problems through cross-sector partnerships. By unleashing the power of partnerships, this programme will provide these organisations with the ‘boost’ they need to positively impact the lives of even more citizens across the UK.”

incuto was founded on the basis that everyone deserves access to fair and affordable finance. It is an end-to-end solution with no barriers to entry, enabling credit unions and community banks to connect in a day and have access to key services including Experian, TransUnion and ClearBank with no licence or support fees, no minimum volumes and no tie-ins.