Project: myFloc | Troydeus

Preventing Elder Fraud

Financial technology platform enabling older generations the ability to invite a circle of care to monitor and track caregiver spending.

myFloc

Preventing elder fraud with a financial circle of care.

Elder financial fraud is estimated to cost $270 billion annually, with senior citizens often being exploited and losing their life savings.

The Solution: myFloc from Caresix Technologies offers a financial platform where elderly individuals can set up spending accounts and issue debit cards to caregivers. These accounts are monitored by one or more trusted individuals, creating a secure circle of financial care.

Result: Raised $3M. 50% YoY growth.

Visit: myfloc.com

myFloc founder has an amazing idea for a product and needed someone to help her build her brand, design the first release user experience, and raise capital.

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Design Process

1. Empathize

Persona research was crucial in developing the myFloc product. Through customer interviews, we identified and understood the motivations and roles of key personas: the elderly individual, the caregiver, the circle of care members, and the key influencer.

2. Prototype

For myFloc, I created branding, a style guide, and nomenclature. Customer interviews informed our MVP and architecture, and a clickable demo showcased the user journey for testing, promotions, development, and investor pitches.

3. Build

We shopped the prototype around to various development agencies until we found one that provided the tech stack and experience were were looking for. We used the demo to provide time/cost estimates and the foundation of their requirements.

4. Validate & Iterate

The interactive demos helped refine the product through customer feedback, allowing adjustments to flow, terminology, and design. We also identified key personas in purchasing decisions and additional use cases for spending limits.

myFloc Released

Elderly customers and their trusted members could begin creating accounts and issuing debit cards. The simple straight forward experience was critical and led to the sign up of thousands of customers.

myFloc was able to use the proof of concept demo to validate the idea with their target audience and secure $3M in funding. myFloc is live serving thousands of customers.

Financial safeguards for your loved ones

It was a pleasure helping the myFloc founders build their brand and establish their product. Below are example pieces of work provided.

Result

myFloc raised $3M in funding to build its elder financial care platform and continues to see 50% YoY growth. myFloc is an AARP AgeTech Collaborative Portfolio Company.