UK fintech Sibstar launches to help people with dementia manage their spending
New fintech start-up Sibstar, which offers a debit card and app designed for people with dementia, has launched in the UK in partnership with Alzheimer’s Society and Mastercard.
Sibstar launches app and card for people with dementia
According to research conducted by Sibstar and Alzheimer’s Society, nine out of ten people affected by dementia experience difficulties handling their finances daily, with many prone to getting scammed and losing their money.
To combat this, Sibstar’s debit card comes pre-loaded with funds with the ability to manage money and spending through the app, available on both iOS and Android.
The firm says the card can be instantly switched on or off via the mobile app, online or at ATMs, “delivering a flexible solution which can be scaled as the needs of individual customers change”.
The app also features spend limits, auto top-up and real-time notifications.
“How we choose to spend our money is a big part of who we are, that doesn’t need to change because you have dementia,” says Jayne Sibley, co-founder of Sibstar.
“We believe Sibstar provides a way for people living with dementia to manage and access their own money more safely, reducing their financially vulnerability, which means they can remain independent and live life the way they choose.”
In the last nine months, Sibstar’s app and card has been piloted by 65 people in the UK who are affected by dementia and their families.
