The UCL Faculty of Brain Sciences is a world leader in dementia research and education. We are proud of our patient-centred support for those with dementia and their families. Dexter saw how his patients’ money worries impacted on their health and was compelled to take action.
Financial fraud is a huge problem. In the UK, five million older people are scammed every year, losing a total of £1.2 billion. Kalgera, which means ‘good old age’ in Greek, uses neuroscience and machine learning to pinpoint suspicious activity on a bank account. The app then alerts carers, family or friends.
UCL Innovation & Enterprise helped Dr Penn develop his idea, and he joined The Hatchery, UCL’s startup incubator. Kalgera has since been recognised as one of Tech Nation’s ‘Top New Financial Inclusion Startups’ and one of Centrica’s ‘Top 20 Global Ageing Startups’. The business has secured £100,000 from Nesta Challenges and Open Banking Limited as well as over £300,000 additional investment. Dr Penn has advised on public policy at 10 Downing Street and the Cabinet Office.