Money Carer is enhancing its banking and payment systems to promote financial inclusion by better supporting vulnerable individuals across the UK through a combination of innovative technology, strategic partnerships, and a deep understanding of the unique challenges faced by those with disabilities or cognitive impairments.
1. Monika: A Tailored Banking Platform
At the heart of Money Carer’s services is Monika, a proprietary banking and payment management platform developed in by the organisation. Monika is designed specifically for appointees, deputies, solicitors and local authorities managing finances on behalf of vulnerable clients. It offers features such as real-time transaction monitoring, automated budgeting tools, and secure document storage, facilitating transparent and efficient financial management.
2. Innovative Payment Solutions
To address the specific needs of individuals who may struggle with traditional payment methods, Money Carer has introduced several innovative solutions:
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Biometric Payment Cards: In partnership with Tag Systems and Fingerprint Cards AB, Money Carer has developed biometric enabled debit cards that allow users to authenticate payments using fingerprint recognition, eliminating the need to remember PINs.
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Wearable Payment Devices: Recognizing the challenges some individuals face with handling cards or cash, Money Carer is launching a range of wearable payment devices, including rings, bracelets, and keyrings. These contactless devices are designed to provide discreet and dignified payment options for those with physical or cognitive impairments.
3. Comprehensive Support for Appointees and Deputies
As the UK’s largest provider of DWP appointeeships, Money Carer offers specialized banking services to assist appointees and deputies in managing the finances of vulnerable individuals. Their services include the provision of FSCS-protected bank accounts, tools for welfare benefit checks, and systems to monitor account balances and spending, ensuring compliance and safeguarding against financial abuse.
4. Collaborations and Recognitions
Money Carer’s commitment to financial inclusion and innovation has been recognized through awards and partnerships:
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They received the Financial Inclusion Award at the 2025 Card and Payments Awards, highlighting their leadership in supporting vulnerable populations.
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Collaborations with organisations like Kalgera have integrated AI-driven tools to detect and prevent financial exploitation, enhancing the protection of clients’ assets.
Through these initiatives, Money Carer continues to advance its mission of providing secure, accessible, and user-friendly financial services tailored to the needs of vulnerable individuals and their support networks across the UK.
