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Carefull Further Bridges Generations for Banks and Advisors with New Platform Features

Carefull Further Bridges Generations for Banks and Advisors with New Platform Features
To foster relationship continuity between seniors and their adult children, Carefull launches Vault and Trusted Contacts

Carefull, the first digital platform built to protect and manage the daily finances of older adults, announced two new product features: Vault and Trusted Contacts. Integrated into the Carefull platform, these state-of-the-art features directly serve the advisors, banks and financial caregivers that aid aging loved ones. Vault and Trusted Contacts are designed specifically for the senior market to keep sensitive financial information secure, support cross-generational relationships and provide a safe yet simple platform to manage their financial health as they age.

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“Carefull strives to find smarter ways to connect and protect across generations, and we found that methods for storing passwords and contacts were typically both insecure and unreliable. When they’re on a notepad or in a file folder, they’re not easy to find, easy to use or easy to change and they’re usually out-of-date,” said Max Goldman, co-founder of Carefull. “Today’s password managers are over-designed for the senior market where the capabilities are crucial, but simplicity is everything. Our Vault and Trusted Contacts is built with older adults and those who support them in mind, helping bring people and their finances together with simple technology tools that keep essential information safe, secure and organized.”

With a few clicks, Vault uses cutting-edge protection technology to create a digital safety deposit box. Users can store private passwords, sensitive documents and emergency contacts all in one location protected by military-grade encryption. In addition, Carefull’s smart-suggestion tools can recommend and define age-specific documents connected to your finances, such as a will, power of attorney, trust and insurance. In case of emergency, Vault also stores important contacts with detailed information so that family members can have reliable information at a moment’s notice. Vault’s digital life protections coupled with Carefull’s financial defenses create a seamless and convenient portal to facilitate lasting financial health all in one place.

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Significant financial and personal records often live in inaccessible or unreliable locations for the more than 45 million Americans acting as financial caregivers. Trusted Contacts makes financial caregiving secure by allowing read-only privilege to documents, passwords, and contacts you choose, without giving others access to money. A preapproved group of family members, bank or wealth-management advisors can be granted access to need-to-know pieces of information from the Vault or to monitor banking activity, making tough money management conversations easy. Additionally, by making financial advisors or wealth managers Trusted Contacts, they will have unrivaled transparency and oversight to build a better financial relationship.

Trusted Contacts promotes long-lived financial independence while enhancing those security measures by controlling what is shared and with whom. No other service on the market creates an extensive, focused and informative database to equip seniors and their trusted support network.

“Carefull is defining financial caregiving through technology with a unique platform purpose-built for older adults and those who support them. Using senior-specific solutions, we are proudly the first fintech to create a holistic solution to bridge generations for banks and credit unions,” said Todd Rovak, co-founder of Carefull. “Bringing generations together and bridging the technological divide, Carefull is establishing financial independence for aging adults while positioning financial institutions ahead of a wealth transfer moment.”

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