In this video from The Payments Associations Project Inclusion, Josh Berle, Director of New Business Development at Mastercard, interviews Andrew Rabbit, CEO and Co-founder of Incuto. Incuto connects underserved borrowers and community-based lenders such as credit unions and community development funds.
Together, Josh and Andrew discuss the cost-of-living crisis and how the payments sector can further support those who are vulnerable. Andrew explains that since the company’s founding in 2016, the number of financially excluded people in the UK has grown from 8 million to over 20 million.
He notes that this crisis has affected a group of people in the middle who were not used to being rejected by mainstream lenders. Andrew also explains how Incuto aims to bridge the gap by making these lenders more accessible to the public.
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