Kincern Launches Online Financial Caregiving Tool to Help Families Support Aging Parents

MANCHESTER, N. H., Oct. 4, 2021 /PRNewswire/ -- Envisioned and built by entrepreneurs with aging loved ones, Kincern launched the most complete and comprehensive online financial caregiving tool to ensure peace of mind for families. With nearly half of adults in the sandwich generation still caring for children while helping their aging parents, Kincern fills a growing gap through its safe, smart, and easy-to-use digital platform that enables families to spend more time with loved ones and less time worrying about their finances and documents.

Kincern is a secure and simple service that helps families identify, manage, protect, and share their loved one's financial information, legal documents, and more across all devices. The proprietary software ensures essential documents and financial account information can be stored in a highly secure yet easily accessible platform. Kincern is designed for ease of use by family members who understand an online solution is the most effective way to help aging parents.

"I've worked with organizations that care for aging adults and have seen first-hand the stress and challenges family members face when they do not have essential information but have to make critical decisions," said Jody Holt, CEO and co-founder of Kincern. "I watched as my mom began taking care of her father. The toll it took on my mom was tough. She spent hours and hours trying to stay on top of finances. She was already overwhelmed, but after he passed away, the paperwork only increased. Kincern helps solve that by giving families the time, peace of mind, and transparency they deserve."

Kincern is a truly holistic solution for managing finances and critical information for family members. The digital platform focuses on four core features – managing finances, organizing documents, collaborating and sharing with family members, and educating families around financial caregiving – all with a high level of security through encryption. It employs two proprietary tools to help with ease of use and security – WiseVault™ and SmartParser™.

The digital age can seem uncertain – especially for older individuals who have not incorporated digital tools into daily life. From sharing banking details to concerns about information being leaked, it can be stressful. Kincern developed WiseVault™ to ensure data is fully encrypted from the moment it is uploaded using the same encryption technologies that already keep people safe when they bank, shop, and manage accounts online.

The Kincern SmartParser™ takes data from many different sources (such as linked accounts, scanned documents, and public datasets) to build a financial and administrative picture of a loved one. It uses artificial intelligence (AI) to parse out relevant data from these sources and links them together so that Kincern users can understand their current situation and properly monitor it over time. 

"My dad and I used to talk about overdue needed inventions and products," said Marc Pacelli, an early adopter of Kincern. "Kincern fits that category completely with a one-stop-shop to manage your loved ones' documents, estate information, current financial status, and more. Kincern is a much-needed and much-welcomed service that is very comprehensive, intuitive, and easy to use."

Cybercrimes against older adults have increased five times since 2014. In 2020, cybercrime complaints soared to a record high, with total losses surpassing $4.2 billion and losses to those 50 and older exceeding $1.8 billion. Kincern is dedicated to providing security and peace of mind with tools for monitoring accounts, sending alerts, and providing updates on scams targeting older adults. The company uses AI to locate vital information and monitor and provide alerts of abnormal activity, such as overdue payments, notices if a bill was paid twice, or if there is a pattern that suggests unusual spending habits.

"The process of assisting an aging parent with their finances is critical and often requires many conversations and some education on how a digital platform works and why it's advantageous," said Holt. "Begin these conversations early. Becoming a financial caregiver is a big responsibility. Explore the resources and information on the Kincern website to learn more about how to have these conversations and what types of information are most critical for providing this type of care."

Kincern is now available for an introductory $10 per month subscription or a $100 yearly subscription. A free, 30-day trial is also offered. Special group pricing is also available for organizations such as senior living entities, employers, and financial management firms who want to offer Kincern to their residents, employees, and clients.

About Kincern
Based in Manchester, New Hampshire, Kincern was born out of its founders' direct experience serving as financial caregivers for their own aging parents. They saw a need for a complete solution that focused on managing finances, organizing documents, the ability to share information with other family members, and a high level of security through encryption designed in-house with proprietary technology. Kincern fills a growing gap through its safe, smart, and easy-to-use digital platform that enables people to spend more time with loved ones and less time worrying about their documents. Learn more about the product and why financial caregiving is so essential on their website and through this overview video.

SOURCE Kincern