The startup offers an online application for income and expenditure management that utilizes open banking systems to facilitate real-time financial data sharing. This tool automates the completion of financial forms, enabling users and creditors to effectively monitor and control their financial situations.
Funding
$3.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Collecting and managing income and expenditure (I&E) data from customers can be a challenging, time-consuming, and repetitive process for creditors. Customers often struggle with complex financial forms and lack a clear understanding of their financial situation.
Solution
IE Hub provides a secure, online platform that simplifies the process of creating, managing, and sharing income and expenditure information for both customers and creditors. The platform enables customers to easily complete a single, standardized I&E statement that is compliant with the Standard Financial Statement (SFS). Customers can update their information as circumstances change, explore potential benefits, and identify opportunities to reduce expenses through social tariffs. The platform also allows customers to securely share their data with multiple creditors and debt advice partners, while creditors can streamline their collections process and improve customer engagement.
Target Audience
IE Hub serves consumer-facing creditors, including utilities, banks, lenders, and local authorities, as well as debt advice partners and customers seeking to manage their finances more effectively.
Features
- Online I&E form completion for customers
- Secure data sharing with creditors and debt advisors
- SFS compliance
- Open Banking integration for real-time financial data
- Automated benefit entitlement checks
- Identification of social tariffs for reduced expenses
- CRM portal for creditors to review and manage customer data
- Advanced dashboard for agents to pre-fill customer information using credit bureau data
- Automated checks and work queues for exception management