RateWise

Inspiration

Credit unions often offer better loan rates, fairer terms, and valuable member benefits, yet most people remain unaware of them because of information silos and limited public visibility. During times of financial stress, people are actively seeking ways to reduce their interest rates and find more supportive financial institutions. This inspired us to build RateWise—a tool that simplifies discovering and accessing credit unions, helping users make smarter financial decisions effortlessly.

What it does

RateWise uses AI to automatically find the most up-to-date and competitive rates across all types of loans—home, auto, personal, and credit card. It shows users which credit unions they’re eligible to join based on their location, occupation, and membership requirements, without any manual searching. The app can even connect directly with a user’s current bank to identify their existing loans, compare them against credit union offers, and show how much they could save by switching. Users can safely pre-qualify for new loans without affecting their credit score, and the AI can auto-fill pre-qualification forms, making the process quick and stress-free.

How we built it

We started by aggregating and normalizing data from multiple credit union sources, APIs, and rate databases. Then, we built an AI-powered search engine that continuously updates rates and eligibility criteria while learning from user preferences. The system can also connect securely to users’ existing bank accounts through open banking APIs, allowing it to analyze current loan details and recommend smarter alternatives. The front end was designed with simplicity in mind—clear results, easy navigation, and built-in automation for pre-qualification.

Challenges we ran into

The biggest challenge was integrating data from multiple sources—many credit unions had unique eligibility rules, inconsistent formats, and limited digital infrastructure. Securely connecting with banks while ensuring user privacy was another technical and compliance hurdle. We also had to carefully balance advanced AI logic with a user-friendly design so that the experience stayed clear and approachable for people with little financial background.

Accomplishments that we're proud of

We’re proud to have built a platform that helps users instantly find better loan options, compare them with their existing bank loans, and take action safely. Integrating AI with open banking and credit union data to create one seamless experience was a major milestone. It’s rewarding to see RateWise give users real financial insights and empower them to save money while supporting community-based credit unions.

What we learned

We learned how critical financial transparency and accessibility are to empowering users. Technically, we discovered the complexity of integrating fragmented credit union data and securely connecting with traditional banks through APIs. We also learned that simplifying financial choices with automation—like AI-driven matching and form-filling—dramatically improves user confidence and engagement.

What's next for RateWise

Next, we plan to expand RateWise by supporting more types of loans, adding real-time refinance offers, and deepening integrations with both banks and credit unions. We’re also working on adding personalized financial insights, showing users not only where they can save but also how to improve their loan eligibility and financial health over time. Additionally, we’re building the ability to model personalized financial scenarios—helping users see exactly how much they could save by securing a better loan, refinancing, or improving their credit profile. The long-term goal is to make RateWise a trusted financial companion for every major borrowing decision.

Built With

• gemini
• mcp
• next