Youth digital banking firm Incent secures investment from Tyfone to enhance financial education

February 20, 2025

Incent, a leading provider of youth digital banking solutions for banks and credit unions, has received an investment from Tyfone, a digital banking solutions provider.

The investment aims to support Incent’s mission of equipping financial institutions with tools to promote financial literacy and responsible money management among children and teens.

The financial details of the investment were not disclosed.

Incent offers a fully integrated youth banking platform designed to build long-term relationships between financial institutions and their customers. The platform provides a secure, real-world banking experience tailored to children and teens, allowing banks and credit unions to maintain account ownership and transition young users to adult accounts when they turn 18.

With Tyfone’s backing, Incent plans to scale operations, expand its product offerings, and extend its reach to more financial institutions, parents, and children. The company remains an independent entity and will continue to provide an agnostic solution that integrates seamlessly with existing digital banking platforms.

Richard Logan, founder and vice president of technology at 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.”

The Incent platform offers a variety of features to promote financial literacy, including interactive learning tools, goal-based savings, spending controls, and parental oversight. Users can also access cash-for-chores rewards, charitable giving options, and parent-controlled loans to instill responsible financial habits from an early age.

Marcell King, general manager of Incent, said, “Incent has built a solid reputation for delivering exceptional youth banking solutions that engage families and drive financial literacy. 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.”