MyFloc provides a cloud‑native shared‑account platform that links a Visa debit card to a central fund, enabling a primary user to assign role‑based spending permissions and limits to family members, caregivers, or advisors. The service delivers real‑time transaction monitoring, customizable alerts, and centralized budgeting analytics while maintaining PCI‑DSS compliance and fraud‑prevention controls.
Funding
Funding not disclosed
Founders
Product
Problem
Many households and caregiving arrangements struggle with fragmented cash handling, manual reimbursements, and limited visibility into how shared funds are spent. This creates administrative overhead, risk of fraud, and difficulty coordinating budgets across family members, friends, or professional caregivers. Elderly users and their supporters often lack a secure, controllable way to grant spending authority without exposing the entire account.
Solution
MyFloc offers a cloud‑native shared‑account platform that links a Visa‑debit card to a central fund while allowing the account owner to invite trusted participants with granular, role‑based permissions. The account lead can assign secondary cardholders, limited‑spend members, or view‑only friends, each with configurable transaction limits, merchant category blocks, and real‑time alerts. All activity is consolidated in a unified dashboard that provides near‑instant transaction logs, spending analytics, and customizable notifications via SMS or email. Funds are added securely from external bank accounts, and the Visa‑issued cards work anywhere standard debit cards are accepted. The system enforces identity verification, end‑to‑end encryption, and audit trails to meet compliance and mitigate fraud. By centralizing control and visibility, MyFloc eliminates cash handoffs, reduces reimbursement paperwork, and enables coordinated budgeting for families, caregivers, and advisors.
Target Audience
Primary users are multi‑generational families, senior households, and professional caregivers who need to allocate allowances, manage shared expenses, and maintain oversight of spending. Secondary customers include financial advisors and small community groups that require view‑only access to monitor budgeting without direct transaction rights.
Features
- Role‑based access engine (Lead, Insider, Member, Friend) with per‑card spending caps and merchant category controls
- Real‑time transaction streaming and customizable alert rules (threshold, location, type) delivered via SMS/email
- Centralized web dashboard and mobile view for full account overview, expense categorization, and permission management
- Seamless funding via ACH from any bank, with instant balance updates across all linked cards
- Visa® debit card issuance on a Pathward/National Association platform, usable globally wherever Visa is accepted
- Secure data handling: PCI‑DSS compliance, end‑to‑end encryption, and audit logs for all account actions
- Integrated identity verification (KYC) and fraud‑prevention checks to satisfy regulatory requirements
- Optional view‑only “Friend” role for accountants, financial advisors, or other stakeholders to monitor activity without spending authority