Intuit at Money 20/20: New Features & Partnerships With LendingClub and Wealthfront

News & Social Screen Shot 2018-10-22 at 8.52.06 AM

Personal finance is about to get much easier and faster! Today in Las Vegas, Money 20/20 kicked off, bringing the brightest minds and ideas in FinTech together. Over the four-day conference, Intuit will introduce several exciting new capabilities within TurboTax, Turbo, Mint, and external partners. The biggest news centers on these four areas.

New, easy pre-fill application between Intuit products

With this latest platform update, people who use TurboTax will now be able to connect their data to pre-fill applications within Turbo and Mint. This gives people the ability to automatically transfer the over 80,000 fields available on the TurboTax return — including income, employment, housing — instantly.

“People spend millions of hours each year applying for financial products and services. Financial applications are super time-consuming and cumbersome.  There are a lot of manual processes, fields and paper involved. It’s prone to error and lenders can be stuck with unqualified applicants.  We reasoned there’s got to be a better way.”

– Varun Krishna, Vice President of Product Management for Intuit’s Consumer Division

New Partnerships

Intuit is announcing partnerships with market leaders LendingClub and Wealthfront to launch a new capability that allows a one-click import of TurboTax data directly into these partner experiences. For the first time, LendingClub will use this information to significantly reduce the time it takes to complete the loan application process. Wealthfront clients can open an account much faster and receive higher fidelity personalized financial advice. This expansion of the TurboTax platform will provide access to potentially better rates and valuable insights, while also delivering exclusive value to financial partners.

“In our pursuit to help millions of Americans get control of their financial health, this partnership is a step in leveraging alternative data sources to help us increase the speed and access to credit.”

– Cole Gillespie, Vice President and Head of Business Development at LendingClub 

More financial visibility with MintSights

With the latest iOS refresh of Mint, those who use the financial app will now be able to get meaningful, personalized insights and tips to help improve their financial health. Using machine learning, MintSights helps people understand patterns in their behavior and optimize how they manage their money, by creating budgets, consolidating debts, and growing investments.

“Using machine learning, we are able to provide consumers a comprehensive view of their finances and highlight relevant opportunities to save time and money and generate unique value to our partners.”

– Varun Krishna, Vice President of Product Management for Intuit’s Consumer Division

Shared family transparency with Turbo Combined Household View

Turbo now offers families the ability to create a shared view of household income, credit score, and debt for a more complete picture of total borrowing and savings power. Sharing their household view with trusted Turbo partners, may increase their opportunity to qualify for loans with better rates, pre-qualify or even be pre-approved for loans.

To see the first showing of these new features, join Intuit at Money 20/20 in booth 1143. Varun Krishna will be speaking on “What’s Next in Personalized Data-Driven Consumer Finance,” Tuesday, Oct. 23, 10:25 a.m., during the “Breaking News & Fintech Views” in the Discovery Den.

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