Coventry-based financial technology company Inicio AI has been named KPMG UK Tech Innovator 2025 at the competition’s national final. The business, co-founded and led by chief executive Rachel Curtis, will now represent the United Kingdom at the global final during Web Summit in Lisbon this November.
The award follows a series of recent milestones for Inicio AI, including winning the OneToWin pitch competition at Birmingham Tech Week in October and completing a £2.6 million funding round earlier this year.
Inicio AI has developed Budgie AI, a conversational artificial intelligence tool designed to support consumers with financial assessments. The system enables organisations to understand customer financial circumstances without requiring direct interaction with a human adviser. According to the company, this method lowers costs for lenders and improves assessment accuracy.
Inicio AI states that clients using Budgie AI have reported a 60 per cent rise in payment amounts and a 50 per cent reduction in both agent and consumer time to complete assessments. The tool also checks whether consumers are missing out on available benefits or financial assistance.
Research indicates that £22.7 billion in benefits remain unclaimed annually in the United Kingdom. Inicio AI reports that its data-driven processes have already uncovered millions of pounds in potential income for people experiencing debt.
“From nearly 200 applications to 8 regional heats and one unforgettable national final, this year’s KPMG UK Tech Innovator in the UK competition has been a celebration of the UK’s boldest, brightest and most brilliant tech talent,” said Kieran Waterhouse-Benfield, marketing manager at KPMG UK. “Delivering this campaign has been a real privilege, and a reminder of just how much innovation, ambition and resilience exists across the UK’s start-up ecosystem. I’ve laughed, I’ve learned, I’ve lived in spreadsheets… and I wouldn’t change a thing.
“Huge congratulations to our national winner, Rachel Curtis from Midlands-based Inicio AI! – your clarity, purpose and potential blew us away.
“And to our incredible judging panel – James Osborn, Michael Green, Jean de Fougerolles, Martin Bremner, Sue Daley OBE, Thomas Olszewski, and returning champ Henrietta Boyd. Thank you for your insight, rigour and good humour throughout.
“This campaign has been a team effort from start to finish – and I’m so proud of what we’ve delivered.
“Special shout out to the amazing Emerging Giants team for their support throughout, but especially the wonderful Hazel Panter, who quite frankly, I couldn’t have done it without.”
The KPMG UK Tech Innovator competition has been held annually since 2013 and has highlighted technology firms including What3Words, Inovus Medical and 2022 global winner HiiROC.
Image from Rachel Curtis (with award) Linkedin with KPMG ladies Sarah Abrahams, Amy Burnett and Nicole Lowe.
