Some people just cant stop themselves.. Uri Levine (co-founder of Waze) has turned his gun turret towards the US retirement plan market with this new start-up FeeX. FeeX aims to bring the power of the crowd to helping consumers avoid hidden costs in their IRA that some experts have calculated at eating as much as 30 percent of a person's retirement savings. He Joins BillGuard, another Israeli "FinTech" company based in the US which is leveraging the power of the crowd to identify deceptive, erroneous and unauthorized charges on consumer credit card and debit card bills
After Waze’s success validated the power of crowd knowledge, a startup called FeeX wants to apply it to a different problem area of our lives — retirement plans. FeeX, a company aiming to help people uncover the hidden fees they’re paying and hopefully improve their retirement investments through crowdsourced information, is launching today in the U.S. And one of the company’s founders is none other than Waze cofounder Uri Levine. "Tech companies which democratize access to sophisticated financial management tools have a big future because the performance of traditional financial services often doesn't justify the high fees they charge," said Andreas Stavropoulos, a partner at venture capital firm Draper Fisher Jurvetson in Menlo Park, California.