Turbo Announcements from Money 20/20

Money & Relationships 8w8a9415

As we wrap up our time at Money 20/20, we’re leaving Las Vegas feeling inspired — we heard a lot of fresh ideas and new products from the stage this year and couldn’t be more excited to share what’s new with Mint and Turbo. At the conference, our very own Varun Krishna announced new partnerships with Lending Club and WealthFront, and a new product offer that allows users to pre-fill loan application using their verified TurboTax data.

We know that our users want to see their entire financial health at the palm of their hands, but we also know how daunting it is to apply for financial products and services. On top of that, it’s just as cumbersome for our partners and lenders to sift through these lengthy applications. We believe that there’s a better way to share and organize all of this info, so we developed solutions to these time-consuming and often stressful financial processes. Through our strategic partnerships and machine learning, we’re able to allow consumers to more seamlessly navigate their financial health.

Here’s a rundown of what we unveiled this week, at Money 20/20:

 

  •      Application Pre-Fill: Users will be able to connect their TurboTax account to pre-fill applications within Turbo or Mint, or a trusted partner’s financial application. A user may simply pre-fill their application with information from the more than 80,000 fields available on the TurboTax return, including income, employment, housing, etc. In early tests, Intuit has already seen 96% of qualifying Turbo users have consented to pre-fill their application with their TurboTax data.
  •      Partnerships: Intuit announced new partnerships for pre-filling applications and personalized investment advice with market leaders Lending Club and WealthFront. This capability enables users to significantly reduce the time it takes to fill-in loan applications or receive more personalized financial advice. Existing Intuit partners Marcus, SoFi and Honest Dollar are leveraging pre-qualification to generate up to an eight times conversion rate in personalized offer performance.
  •      Mintsights™: With the latest iOS refresh of Mint, users now see meaningful, personalized insights and tips to help improve their financial health.  Using machine learning, Mintsights help users understand patterns in behavior and optimize how they manage their money from creating a budget to consolidating debt or growing investments.
  •      Combined Household View: Turbo users are able to create a shared view of household income, credit score, and debt for a more complete picture of their 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.

 

Feeling confident in your finances may take time, but it makes it easier to know that you’re backed by trusted advisors every step of the way. We’re so thrilled to collaborate with these trusted partners that are as invested in our customers as we are.

Keep an eye out for these updates and more to come on your Mint and Turbo apps!

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