How they describe themselves: The financial abuse of older Americans is a growing epidemic costing seniors billions of dollars annually. EverSafe is the first technology-based solution to address this challenging problem. Founded by financial services and credit management industry veteran Howard Tischler — whose mother was a victim of elder financial abuse — EverSafe scans financial accounts, credit cards, and credit report activity daily, alerting members of suspicious activity. A proactive financial defense network, EverSafe protects seniors against financial abuse.
How they describe their product/innovation: EverSafe applies technology to combat elder financial exploitation. The service reviews the senior’s financial transactions and credit report activity daily and if suspicious activity is detected, an alert is sent immediately. EverSafe’s sophisticated software employs a set of rules developed specifically for seniors to comb every transaction looking for abnormalities, including unexpected patterns in spending, deposits, and withdrawals. If suspicious activity is confirmed, the resolution process begins. EverSafe tracks the remediation plan and sends follow ups to help curtail further financial exposure.
Product distribution strategy: Direct to Consumer (B2C), through financial institutions