Banking Review

Interview with Wesabe CEO Jason Knight

As promised, the second interview in the Banking Review Podcast is with Jason Knight, co-founder and CEO of social personal finance website Wesabe.

In this 15 minute interview we discuss the inspiration for Wesabe, the company’s future plans, and the growing Australian user base Wesabe is serving.

And in other Wesabe news, the group has just launched a new tips feature that allows consumers to compare the spend and performance of businesses across a wide range of categories, including finance. The tool is powered by what Wesabe calls its “Value Engine” which aggregates all the spending data of Wesabe users, together with customer feedback on suppliers.

The tool contrasts businesses frequented by members with like businesses that may save them money or provide better service. For example, in the credit card category consumers can compare the average spending on various credit cards and their overall popularity with Wesabe users.

For now some of the categories are a little light on data, but as more people start to use Wesabe and provide feedback on the companies they use, the better the information available for comparisons. The recommendations and tips provided alongside the data is also growing and is yet another example of consumers seeking advice from their peers rather than banks or financial planners. Wesabe receives no fees from listed businesses and accepts no paid sponsorships, allowing it to maintain its mantra of offering an unbiased service for members.

With a growing member base and possible plans to launch in Australia, Wesabe is definitely one to watch.