For the past year, I have been advising a start-up, FedWise LLC, that is working to improve American’s financial literacy. (Full disclosure: I have a small interest in the company.)
FedWise’s vision is simple: to provide helpful, unbiased, reliable information to consumers about financial products and services like mortgages and credit cards.
The company recently launched its first two products.
One is a public website, FinFAQs, where visitors can get answers to specific questions. For example, “What are points?” or “What questions can creditors not legally ask me?“. If you are interested, please try it out. FinFAQs is still young, and the team welcomes feedback on the questions, answers, and interface.
The second, the FedWise Answer Engine, allows financial institutions to offer the Qs and As to consumers on their own websites while receiving sales leads and market intelligence. Several banks and credit unions have already signed up for subscriptions. Perhaps needless to say, FedWise is happy to talk to other institutions that might be interested in offering the service to their customers. For more info, click here.