Half of UK adults show signs of potential financial vulnerability and lose £1.2 billion to fraud and scams every year. Dr Dexter Penn, a UCL Dementia Researcher, created Kalgera after one of his patients lost the money to fund his place in a care home.
Five million older people are targeted by fraudsters each year; cognitive impairment and social isolation increase the likelihood of a successful fraud attempt making this group particularly vulnerable. At risk individuals and their loved ones experience high stress and this negatively impacts their physical and mental wellbeing at home and work. Over 3 million UK caregivers provide financial management support but struggle to do so effectively.
Kalgera’s award winning personal finance platform uses artificial intelligence and neuroscience to detect vulnerability from financial transactions and provides secure sharing of this information with trusted family and friends so they too can be alerted. Kalgera means “Good Old-Age” in Ancient Greek and has won multiple awards from UCL, NHS England and Tech Nation.