Charlie Financial offers banking services tailored for retirees aged 62 and older in the United States. The company allows early access to Social Security benefits and provides a competitive 3% earnings rate on deposits, which is higher than traditional savings accounts. With a focus on security, Charlie Financial includes advanced fraud protection and FDIC insurance coverage, while also ensuring customer support is provided by a U.S.-based team. The goal is to create a secure and seamless banking experience that addresses the unique financial needs of retirees.

Better Tomorrow Ventures

TTV Capital

FPV Ventures

Expa

Ayokunle Omojola

Gokul Rajaram

Financial Services

Charlie

Just in time for the holiday shopping season, Charlie, banking for 62+ Americans, launched CharlieSaver, the most comprehensive source for senior discounts nationwide. CharlieSaver has scoured stores all across America to identify over 20,000 senior discounts across 1,000 shopping centers. CharlieSaver is free to use and available to all older Americans, not just Charlie customers.Senior discounts are an excellent way for older Americans to stretch their budget and make the most of the hard work they’ve put in over the years. This is especially true given that nearly half of older Americans live paycheck-to-paycheck, and over 17 million American adults over 65 are economically insecure.At the same time, there are thousands of senior discounts available to this population that are difficult to find and impossible to keep track of. Older Americans could be missing out on hundreds of dollars in savings each year because there is no way to know about all the discounts available to them, and many retailers only offer a discount when asked directly by a customer.CharlieSaver does the important work of gathering all senior discounts in one simple-to-search website. CharlieSaver will continue to expand as new deals are discovered and more stores and restaurants join in to offer these valuable discounts

As The Holiday Shopping Season Kicks Off, Charlie, Banking For 62+ Americans, Launches Charliesaver

Charlie, a fintech company focused on enhancing financial security for older Americans, has unveiled SpeedBump, a new initiative aimed at combating rampant financial fraud targeting this demographic.SpeedBump integrates pauses, alerts, and real-time education to safeguard customers during vulnerable moments prone to fraudulent activity.According to Charlie, research indicates that awareness plays a crucial role in mitigating fraud risks. Customers who are informed about specific scams are significantly less likely to fall victim – reducing engagement by 80% and potential financial losses or data breaches by 40%. With financial fraud disproportionately affecting older Americans, who collectively lose over USD 28 billion annually, SpeedBump is designed to help customers with timely information to protect their assets. Enhancing fraud protection: SpeedBump's strategic measures. SpeedBump operates by activating during critical actions that heighten fraud risks, such as adding new payees, conducting transactions exceeding USD 100, or logging in from unfamiliar devices. Upon detection of these actions, SpeedBump initiates strategic delays to mitigate potential fraud

Charlie Unveils Speedbump, An Anti-Financial Fraud Initiative

Fraud targeting older Americans’ money or cryptocurrency increased by double-digit percentages in 2023. The number of complaints of elder fraud increased by 14% during the year, while the associated losses rose by 11%, the FBI’s Internet Crime Complaint Center (IC3) said in a Tuesday (April 30) press release. Individuals 60 years and older reported 101,068 of these scams in 2023 and lost $3.4 billion to fraud, with the average victim losing $33,915, according to IC3’s 2023 Elder Fraud Report released Tuesday

Complaints Of Fraud Targeting Older Americans Rose 14% In 2023

Fraud and financial crime remain challenging for financial institutions (FIs), even as fraud rates have remained high for many of them in 2023 relative to 2022 figures — a year in which 70% of FIs experienced increased fraud over 2021. At a time of the year when payments and banking transactions multiply due to the holiday shopping season and many companies’ financial closures, consumers need to be more vigilant than ever to avoid scams, and FIs are putting in place the necessary resources to combat fraud. According to a recent report by PYMNTS Intelligence in collaboration with Hawk AI, “Financial Institutions Revamping Technologies to Fight Financial Crimes,” nearly 43% of FIs in the U.S. experienced an increase in fraud this year relative to 2022, resulting in a rise in fraud losses increasing by about 65% from $2.3 million in 2022 to $3.8 million in 2023, as per PYMNTS Intelligence data. FIs are increasingly adopting advanced technologies like artificial intelligence (AI) and machine learning (ML) to combat the growing threat of financial crimes and dedicating efforts and investments to do so. As extracted from the PYMNTS Intelligence research, 66% of FIs are utilizing these technologies alongside a mix of in-house systems and third-party provider options to combat fraud, up from 34% in 2022.

Good Vs. Bad: Fraud Losses At Fis Up 65% As Both Sides Turn To Ai

Today, Charlie, the new standard for 62+ banking services, announced it has raised a $23M Series A with TTV Capital serving as the lead investor.

Charlie raises $23 million to bring financial services to retirees

Charlie, banking services for the 62+ community, launches nationwide.

Charlie

Banking services tailored for retirees

Charlie

Banking services tailored for retirees

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