Financial Advisor Magazine Highlights EverSafe

Fintech Cited as a Tool to Combat Elder Fraud

Financial technology, known as “fintech,” is technology innovation that offers an alternative to traditional methods in the delivery of financial services. And financial institutions are beginning to embrace fintech solutions in their quest to prevent and identify signs of exploitation, especially with respect to vulnerable adults.

Financial Advisor Magazine article this month explores the benefits of using technology to enhance fraud protections for consumers as well as detecting issues related to cognitive capacity.

In the article, EverSafe’s CEO Howard Tischler, and COO Liz Loewy, outline the critical importance of financial technology in preventing fraud and abuse. “[To] identify financial exploitation, advisors and banks need to be able to spot patterns in withdrawals and anomalies in financial accounts, things often invisible to people,” Loewy said.

The importance of monitoring financial accounts was also underscored. “People need this information before disaster strikes,” Tischler emphasized.