Creators of a new personal finance social network WalletHub.com aim to help users make quick financial decisions.
WalletHub comes from the parent company of Evolution Finance, which also created credit card comparison website CardHub.com.
“The Great Recession was a stark wake-up call to the need for greater transparency in the personal finance industry, as well as the development of tools and information that can help make the complicated task of responsible money management easier for everyone,” Odysseas Papadimitriou, founder and CEO of both WalletHub.com and CardHub.com, said.
WalletHub offers that and fills a consumer void, he also said.
Monday, the product came out of beta mode.
The product allows users to read and write reviews for more than 1 million financial companies, professionals and products across the personal finance spectrum.
Leaders said this feature is like the Yelp of personal finance.
The review feature helps provide transparency and protect consumers from unscrupulous service providers, according to a news release.
Users can also connect to others with shared financial interests, as well as get financial advice from other users, companies and experts in the community.
The product also allows users to customize financial news via WalletNews. Users can follow news outlets, blogs and financial experts from a centralized location.