Incent Receives Investment from Tyfone to Amplify Youth Digital Banking Solutions

Strategic alliance enables expanded growth initiatives, accelerates product innovation, enhances financial education offerings

Incent Receives Investment from Tyfone to Amplify Youth Digital Banking Solutions

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Anna Stanley/ Laura Lenz
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Incent, LLC (Incent), a leading provider of youth digital banking solutions for banks and credit unions, announced today it has joined forces with digital banking solutions provider, Tyfone, to accelerate growth, expand capabilities and bolster its mission to provide financial institutions with financial education tools. The investment reflects a shared commitment to empower the next generation of account holders by fostering responsible money habits for children and teens.

Incent will continue to operate as a stand-alone organization, providing a fully integrated youth banking platform that builds lifelong relationships with account holders. With the additional backing from Tyfone, Incent is now poised to scale operations, extend its reach and enhance its offerings for institutions, parents and children.

Richard Logan, founder and vice president of technology of Incent, said, “Incent was founded on the belief that financial education should be hands-on and accessible for all families. This partnership enables us to heighten our impact, providing even more value to financial institutions looking to engage the next generation of account holders. We will continue to operate independently, providing an agnostic solution that easily integrates with an institution’s existing digital banking platform to provide a frictionless experience.”

Incent’s platform fosters responsible money management habits by offering a secure, real-world digital banking experience for children and teens. The white-labeled solution enables institutions to build brand awareness, maintain ownership of the account holder relationship and seamlessly transition the child to an “adult” account when the child turns 18. Additionally, the platform ensures deposits and interchange revenue remain within the client institution rather than being diverted to third-party fintech sponsor banks.

“Incent has built a solid reputation for delivering exceptional youth banking solutions that engage families and drive financial literacy,” said Marcell King, general manager of Incent. “Our priority is to empower financial institutions with tools that teach kids good financial habits, while also strengthening deposit relationships for banks and credit unions.”

Incent’s youth banking solution fosters responsible money management habits by offering a secure, real-world digital banking experience including a robust suite of features designed to teach financial literacy and encourage responsible money management including:

Learn: Interactive tools to improve financial literacy
Earn: Cash-for-chores, cash-for-grades, and A2A money transfers
Spend: Parental debit card controls and spend monitoring
Save: Goal-based saving and monthly budget creation
Give: Charitable giving options with access to thousands of nonprofits
Borrow: Parent-controlled loans with optional interest accrual and debt forgiveness

The investment and broader collaboration further bolsters Incent’s ability to foster financial education, while accelerating its ability to evolve and expand the platform to meet the needs of financial institutions and families nationwide. Terms of the transaction were not disclosed.

About Incent

Incent is the leading provider of B2B youth banking services for U.S. banks and credit unions. Designed specifically for community financial institutions, Incent’s youth digital banking solution provides the tools needed to teach kids responsible financial habits. The platform engages youth (ages 3–18) through hands-on real-life learning experiences focused on earning, spending, saving, giving, and borrowing money. Incent seamlessly integrates with financial institutions’ existing digital banking solutions, enabling banks and credit unions to engage younger customers while maintaining deposits within the institution. The parent or guardian retains full control of the account, ensuring a safe and educational digital banking experience.

For additional information about Incent visit www.incent.net or connect with the company on LinkedIn.

About Tyfone

Based in Portland, Ore., Tyfone is a leading provider of consumer and commercial digital banking services for community financial institutions throughout the U.S. We understand that an elegant, engaging, and intuitive user experience is the minimum requirement for any digital banking provider. What differentiates Tyfone is our unwavering commitment to continuous innovation, exceptional collaboration, and superior execution. We consider each customer a true partner and place the highest value on every relationship. To learn more about Tyfone, visit Tyfone.com and connect on LinkedIn.