Recent findings have shed light on a concerning reality: a staggering £19 billion in benefits goes unclaimed in the UK each year!

This significant amount is particularly alarming when considering the financial struggles faced by millions of individuals and families. Lack of awareness has been identified as one of the primary reasons why people do not claim the benefits they are entitled to.

Therefore, all of us must play our part in raising awareness and ensuring that those in need are informed about the support available to them.

To address this issue, we have partnered with Fair4All Finance & Inbest, two organisations dedicated to promoting financial inclusivity.

Through our collaboration, we aim to educate individuals about the benefits they may be eligible for by integrating a benefit check into the services we provide our Credit Union partners who use our platform.

00 Leverage customer journeys on our member management and lending process flow.

00 Analyse the data provided by customers to determine their entitlements accurately.

00 Prompt customers towards using a benefits calculator to check their entitlement.

00 Proactively engage with customers who might have benefit entitlement.

We are enabling this by default for all customers using our platform without any obligation or cost.

00 It is co-branded for each credit union and they self-serve to enable it for their members.

00 We are utilising the full API stack that allows us to check grants and social tariffs on top of benefits opportunities for users.

00 The user can revisit the calculator without needing to re-key data and without requiring any PII at all, making it GDPR compliant.

00 Integrates with our communications platform to automatically prompt users with reminders.

Inbest, with its expertise in benefit calculation, has developed and maintains a robust benefit calculator.

By leveraging this tool, we can provide our users with a comprehensive overview of their entitlements based on their circumstances.

This empowers users to embark on a journey where they can provide a complete picture of their current situation, enabling them to access the full range of benefits available to them.

Importantly, this process not only identifies benefit entitlements but also sheds light on other social tariffs and discretionary grants that individuals may qualify for.

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We extend our sincere gratitude to Fair4All Finance for helping to make this collaboration possible. We strongly encourage all platform users to activate this feature for their members.

Together, we can make a meaningful difference in ensuring that individuals are informed about and can access the support they are entitled to.

“We are thrilled to be supporting sector collaborations such as this between Incuto, Inbest and other loan management, benefit and grant eligibility providers. Given the magnitude of unclaimed benefits, responsible lenders can make a significant impact by raising awareness among their customers, a large portion of whom are more likely to be entitled to benefits, social tariffs and other hardship grants. Together, we can empower individuals by ensuring they are aware of their entitlements and facilitating access to the support they deserve.”

Sacha Romanovitch | CEO of Fair4All Finance