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MemoryBanc Wins the AARP Foundation Prize for Older-Adult Focused Innovation
The AARP Foundation Prize is awarded to the business plan the best addresses the needs of low-income seniors, including both financial challenges and the need to reduce the negative impact of isolation on physical, mental and emotional well-being.
MemoryBanc help seniors and other adults organize and manage myriad details and accounts related to their personal, financial, medical, online and household assets. The founder, Kay Bransford, launched the business after she and her siblings realized their parents could no longer manage their day-to-day needs. In order to help organize their personal information Kay started to collect and organize all the information around their assets and accounts. The volume of documents was overwhelming so she created a system to collect and manage the details. When friends and colleagues saw the system she created, they asked for copies. She realized this was an under-served market need and brought the MemoryBanc Register to market in 2012.
Today, the majority of MemoryBanc clients are in their 40's and 50's and have purchased the system to get their own household records in order and coordinated with a spouse or partner. A growing customer segment includes older adults who use the MemoryBanc Register to gain control of their finances after the loss of a loved one as well as organize the information for the individual they have named as Executor of their will. The MemoryBanc Register is solid online through Memorybanc.com and Amazon.
Kay Bransford was joined by her teammates Brielle Danese who is currently enrolled in the Speech-language Pathology Graduate Program and Steve Sobel who graduated with an MA, Political Management.
Founded in 2012, MemoryBanc’s mission is to help people secure their personal information so they can easily locate it, share it or pass it onto loved ones. The flagship product, the MemoryBanc Register, helps individuals and families organize and protect their personal, financial, medical, online and household documents and details. In 2013, MemoryBanc received the AARP Foundation Prize for Older-Adult Focused Innovation. This privately-held company is based in Arlington, VA. For more information, call 703.436.2827 or visit www.MemoryBanc.com