Comparing and choosing the best credit card, personal loan, mortgage or KiwiSaver provider just got a whole lot easier thanks to a group of New Zealand fintech entrepreneurs who’ve launched PocketWise today.
The cloud platform compares a wide range of financial products from different New Zealand banks and financial service providers, giving consumers a fast, easy answer about which product will best suit their needs.
PocketWise co-founder Prashant Trivedy says he and his partners wanted to help Kiwis make informed financial decisions and get the best deal possible.
Trivedy states, “Traditionally, if you wanted to look for financial products you’d have to go to each provider’s website or call them up and spend time and energy getting the information you need.”
“PocketWise brings all this information together on one platform and gives consumers more information to understand fee structures as well as differences between products.”
PocketWise aims to become the one-stop financial product shop and to remove complexity around consumer finance by offering comparison and education in a single destination.
It is starting with New Zealanders’ biggest financial product decisions around their home, their retirement and their credit decisions.
That’s just the start, with plans to roll out a host of additional product comparisons over time.
PocketWise is the work of Trivedy and his co-founders Santhan Kusam, Binu Paul and Richard Dellabarca.
Paul says PocketWise was a natural progression of the group's’ earlier fintech projects, which have been incorporated into PocketWise.
Paul stating, “We all had the same goal of wanting to help consumers with multiple financial products and bring transparency across financial products.
“We had a few meetings between us and came to the conclusion we could do it better together, rather than working independently and competing with each other.”
It took the team just a few months to get PocketWise off the ground, with plans only put in motion in May.