In the UK there are over 8mn households missing £16bn in benefits. The most common reason why people miss their benefits is that they are unaware of the benefits they are entitled to or assume that they are not eligible.
Inbest uses existing customers’ information to compare the benefits that people receive with the benefits they are entitled to. Our partners use this information to identify customers with unclaimed benefits and nudge them to check their benefits entitlement.
We help customers find additional income of £5,000 per year on average.
Inbest calculates the entitlement to benefits, grants, social tariffs and local support schemes. Then, customers can apply for their benefits and find free and independent money advice.
Inbest customers are entitled to £8,000 per year on average.
Inbest monitors customers’ benefits entitlement and compares it with the benefits they are receiving. Our partners use this information to send proactive and personalised notifications to incentive customers to take action and get all the benefits they are eligible for.
“We look forward to working closely with Inbest and hope that making their benefits calculator available through our MoneyHelper website helps millions of households who are currently missing out to maximise their income.”Michael RoyceSenior Policy and Propositions Manager
“Making Inbest’s innovative benefits calculator available to our customers provides a critical avenue of support against the backdrop of increased cost of living pressures. Collaborating with Inbest on this pilot allows us to provide relevant, tailored and personalised insights, so we can provide support where and when our customers need it most.”Kristen BennieDirector of Innovation & Partnerships
“Our Income maximisation tool is proving to be so powerful for the consumer in such difficult times. I was so surprised at the high percentage of consumers that had no idea they could qualify for vital extra income.”Dylan JonesCEO
“Benefit applications are overly complex and require customers to search for financial information in their bank statements. Through our new partnership with Inbest, we’ll take the pain away from this process, ensuring the most up-to-date information is being provided to our clients and their customers to create the best possible financial outcomes.”Susan RannCEO
“Salad Money uses Open Banking to check whether loan applicants are eligible for benefits they were not claiming. Astonishingly, seven out of ten applicants don’t claim all the benefits they could and on average they find more than £5,000 per year."
“Scotcash is determined to help customers build their financial well-being. If they don’t access the benefits they are due, people can end up in worse financial situations. We’re thrilled to see the immediate impact that Inbest benefits calculator is having on our customers’ lives.”Sharon MacPhersonCEO
“Soar’s platform reaches a wide range of consumers and we see Inbest as providing a fantastic opportunity for our clients to offer additional support to those not making the most of their benefits entitlement. We are helping our clients, often credit unions, provide additional ways to improve their customers’ financial well-being and there’s no doubt that this is one of them.”Andrew DuncanCEO
“We are proud to partner with Inbest in the development and use of their innovative benefits calculator. As the only tool which calculates devolved benefits, it is a vital resource to improve the financial wellbeing of people in Scotland.”Pamela StewartDeputy CEO
“With over 8 million people estimated to be missing out on benefits, we are keen to help people seeking support through our portal access all the benefits they are entitled to. We’re also delighted to work with Inbest to enable multiple customer journey options for an embedded and seamless experience.”Ren HooiCEO
“As an ethical provider of salary advances, we recognise that a salary advance isn’t always the best option. Some may have outstanding benefits entitlement and in such circumstances we are delighted to be working with Inbest to guide employees to these benefits and avoid the need for an advance.”Ian HoggCEO