Financial institutions can protect older account holders and their families with AI-powered tools that detect scams before funds leave the institution

PADUCAH, Ky.--(BUSINESS WIRE)--

CSI, a leading provider of end-to-end financial software and technology, today announced its strategic partnership with Carefull, the first financial safety platform purpose-built to protect aging adults from fraud, scams and money mistakes. The collaboration enables CSI’s bank and credit union clients to provide older account holders and their families with tools to help stop scams and fraud before funds leave the financial institution.

Elder financial exploitation continues to escalate. Americans aged 60+ suffered $4.86 billion in losses in 2024, with average losses exceeding $33,000 per victim, according to the FBI. As scams grow more sophisticated — from AI-generated voice cloning and deepfake impersonations to highly personalized phishing and investment fraud schemes — financial institutions face mounting pressure to strengthen protections for consumers of all ages. The Carefull value-added benefit, accessible to account holders through online and mobile channels, delivers AI-powered detection of more than 70 unique elder-fraud patterns, including suspicious transactions, abrupt spending changes and shifts in financial behavior.

“Elder fraud is one of the fastest-growing threats facing our industry, and financial institutions are often on the front lines of protecting vulnerable account holders,” said Linda Fischer, chief commercial officer at CSI. “Through our partnership with Carefull, we’re helping banks and credit unions extend their role beyond transactions, providing protection for older consumers and their families while strengthening the relationships that are central to community banking.”

Carefull’s platform fills a critical gap in traditional fraud systems by focusing on behavioral and contextual signals unique to older adults. Key capabilities include:

Senior-specific fraud detection: AI models tuned to older adult risks reduce false positives while maintaining legitimate account activity.

Caregiver access: Role-based permissions allow trusted contacts to receive alerts and guidance without exposing sensitive credentials.

Clear, actionable alerts: Plain-language notifications help families resolve issues quickly, reducing call volume and in-branch support time.

Financial institution visibility: Aggregated reporting and key performance indicators support program success.

Rapid deployment: Financial institutions can launch quickly, without complex integrations, and can offer simplified enrollment to account holders through a direct sign-up link.

In addition to fraud monitoring, Carefull users also have access to a broader financial safety suite, which includes scam risk assessment tools, identity and home title monitoring, secure document storage, and expert educational resources designed specifically for consumers 55+ and their caregivers.

“Financial institutions have an opportunity to strengthen customer relationships in ways that drive long-term growth,” said Todd Rovak, co-founder at Carefull. “Banks and credit unions are often at the center of major family financial decisions, especially as consumers navigate aging, caregiving and generational wealth transitions. By working with CSI, we’re helping institutions deliver added value that builds trust, deepens multigenerational engagement, improves retention and supports deposit growth by positioning them as a true ally to the families they serve.”

To learn more about CSI and its partnership with Carefull, please visit: csiweb.com

About CSI

As a forward-thinking software provider, CSI helps community and regional financial institutions, as well as organizations worldwide, solve their customers’ needs through open and agile technologies. In addition to its 60-year reputation for personalized service, CSI is shaping the future of banking by swiftly deploying advanced solutions that help its customers rival their competition.

About Carefull

Carefull is the first financial safety platform designed to protect aging adults, their families, and financial institutions from elder fraud, scams, and money mistakes. Built to support the unique needs of older adults, Carefull’s proprietary AI provides 24/7 account monitoring, a suite of identity and home protections, along with expert resources to help families safeguard families’ financial well-being. Financial services use Carefull to deepen relationships across generations, provide proactive protection, and enhance trust with clients navigating both aging and financial caregiving for older adults. Recognized for its innovation in financial safety, Carefull partners with leading firms to put financial care into financial services. Learn more at GetCarefull.com.

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Source: CSI