Hull firm looks to help relatives assist vulnerable family members manage finances

A new service that provides a secure banking solution for relatives who want to assist in managing the finances of older or vulnerable family members without removing their independence has been launched in Hull by two friends.
GuardianCard: Co-founders Aidan McAllister and Nick Thompson hope to make it easier for relatives to help vulnerable family members.GuardianCard: Co-founders Aidan McAllister and Nick Thompson hope to make it easier for relatives to help vulnerable family members.
GuardianCard: Co-founders Aidan McAllister and Nick Thompson hope to make it easier for relatives to help vulnerable family members.

Nick Thompson and Aidan McAllister came up with the idea for GuardianCard after they both needed to look after older relatives’ finances.

Mr McAllister, who spent much of his working life providing tech solutions to the care industries, said: “We know that supporting and caring for an older loved one can be stressful and tiring and there is always the temptation to stick one’s head in the sand and avoid some big realities.

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“Our vision for GuardianCard is to offer a solution to be part of that caring role and provide people with older and vulnerable loved ones a much higher degree of financial security.

Covid-19 has created a real problem in this industry, in that it has become even more difficult to keep older relatives safe and secure from dodgy scams and fraudulent activity.”

GuardianCard has the functionality of a debit card, but also allows the card holder to issue a virtual card to a relative or carer so they can shop or pay bills on their behalf,

The app’s technology also allows the cardholder and a trusted relative to receive real-time transaction reports to help spot any suspicious activity.

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The duo have plans to grow to 100,000 members over the next five years.

Mr Thompson said: “Conversations around finances can be awkward and sometimes avoided altogether. GuardianCard is the perfect way to open up these conversations, allowing older people to retain their independence while providing a safety net to ensure that they are less vulnerable to theft or financial loss.”

The company has pledged to donate five per cent of its annual profits to its Golden Years Community Project – a platform dedicated to supporting the older generation.

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