Personal finance website offers up-to-date comparison of products

Ms Grace Cheng and her husband Pedro Pla aim to "make it convenient and easy for consumers to look for financial information so that they can make decisions quickly".
Ms Grace Cheng and her husband Pedro Pla aim to "make it convenient and easy for consumers to look for financial information so that they can make decisions quickly".PHOTO: GET.COM

Foreign exchange trader and blogger Grace Cheng has parlayed her expertise into a portal called get.com.

It is an independent personal finance site that helps consumers compare credit card benefits, insurance rates, loans and other financial products.

Ms Cheng, 34, said: "We've started with credit cards, and insurance and loan products will follow next."

Consumers can compare 130 credit cards from the Hongkong and Shanghai Bank, Citibank, ANZ and American Express. They can sort them according to benefits such as cash back or rewards.

She is in talks with other banks to include their cards.

Get.com builds on a successful personal finance site in the United States, dailymarkets.com, that Ms Cheng co-founded in 2011 with her Spanish husband Pedro Pla, 33, a Singapore permanent resident.

Ms Cheng started a blog in 2006 to comment on her foreign exchange trades. When most of the posts she attracted were on personal finance, she turned it into dailymarkets.

The couple developed the site from Singapore without any funding from investors. In 2013, they earned millions of dollars in revenue based on commissions collected from financial institutions which were hooked up with consumers via dailymarkets.com.

They have about 10 employees, mostly developers in Spain. By year-end, they hope to hire eight more staff members, with some to be based in Singapore.

"We wanted to expand to Singapore since this is our home. Our intention is to use Singapore as a base to expand globally," said Mr Pla, adding that with about 1.58 million credit cards in circulation here, there is potential for get.com.

"Since we launched in February, our user numbers have grown by double digits every month," he said.

They folded dailymarkets into get.com as the former was hard to remember.

Mr Pla used the same software for get.com that he had developed for dailymarkets. The software automatically collects online data of financial products for comparison. Consumers get the latest information because the data is updated hourly.

Ms Cheng said their successful US experience shows that providing accurate and honest content is key. "We're successful because our content is not biased since we do not take any advertisements from financial institutions."

She heads a group of writers who provide content for the site, such as infographics to compare cards for cash back. They also review each credit card, highlighting its benefits and giving it a star rating for the value it provides.

"Our intention is to make it convenient and easy for consumers to look for financial information so that they can make decisions quickly," she said.

She hopes to get venture funding to expand get.com faster.

chngkeg@sph.com.sg