incuto today announces its support during the merger of Oxfordshire Credit Union and Swan Community Bank. Following voting by Members of each organisation, the merger completed on 1 August 2021 including technology integration by the incuto team. The new Swan Community Bank will now offer ethical savings and affordable loans to Members across Milton Keynes, Aylesbury Vale, Buckinghamshire and Oxfordshire.
incuto played an integral role in delivering the technology which Swan Community Bank used to support this merger. All Members of the new organisation can now access their accounts and a host of other services through the Swan website or via a dedicated mobile app. incuto has ensured that Members from each organisation experienced no interruption in service and can enjoy a truly digital experience from their community bank.
Steve Eyre, Chair, Swan Community Bank says: “Our recently enlarged Community Bank will now serve a wider pool of members across a larger geographical area so it is important we have the technology in place to support this. Combining with Oxfordshire Credit Union has been a collaborative effort between the two credit unions and incuto as our technology partner, and we look forward to welcoming many new members as a result of this successful merger.”
incuto’s technology for ethical finance providers offers credit unions and community banks a chance to drive sales, reduce their costs and enhance the Member’s digital experience. Its cloud-based platform enables Swan Community Bank to automate processes, while partnerships with providers including Experian, ClearBank and TransUnion mean it can also offer a wider range of off-the-shelf services like Faster Payments, Direct Debits and credit scores.
incuto CEO Andrew Rabbitt says: “We’re looking forward to supporting the growth and success of Swan Community Bank as it welcomes Members from Oxfordshire Credit Union. This merger will enable these organisations to benefit from a larger membership base and shared technology platform. We’re very proud to be working alongside its team to ensure both a smooth transition for existing Members and the opportunity to easily bring in new Members in the near future.”
With a larger Board and a committed operational team, Swan Community Bank is now focused on building upon the membership experience, enabling Members to save, borrow and withdraw money quickly and easy.
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 quickly and have access to key services including TransUnion, Experian and ClearBank with no licence or support fees, no minimum volumes and no tie-ins.