We at Intuit have some exciting news to share! Today, we introduced Turbo, the first and only financial health profile that unleashes the power of verified IRS-filed income and the credit score, showing consumers where they truly stand – beyond the credit score.
Built on a trusted open platform and comprised of a network of millions, we can now offer consenting consumers a single snapshot of their financial profile for the first time, bringing together the three numbers that matter to lenders – verified IRS-filed income, credit score and debt-to-income ratio. Turbo will then benchmark consumers across categories including geography, age, and life stage so that they understand where they stand, and can make financial decisions with more confidence.
In addition to showing consumers what their borrowing power is, Turbo also provides customized advice and insights. For example, Turbo can advise a user how they might improve their debt-to-income ratio or improve their credit score, so they can qualify and secure a loan at the best rate possible.
Whether consumers are looking to save money, secure a loan, pay for college, or buy a house, Turbo connects consenting users to partners and developers that can unlock access to a world of financial resources to help them prosper.
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Turbo Partner Program
Turbo is built on a foundation of user consent – customers’ data belongs to them, and they will have the choice to participate and engage with the Turbo platform. With customer consent, Turbo connects partners with relevant customers through personalized and hyper-targeted offers, based on anonymized and rich financial data. For example, partners can create targeted offers based on debt-to-income ratio, verified IRS-filed income, number of credit cards and even life events.
In the future, consumers can choose to share their data with partners, streamlining account creation and application completion and helping partners boost conversion and customer acquisition. The first six strategic providers on the new Turbo platform are some of the world’s leading financial companies, including Discover, Honest Dollar by Goldman Sachs, Marcus by Goldman Sachs®, Quicken Loans, SoFi and TransUnion – which join the more than 40 trusted partners Intuit has today with Mint.
Turbo will be available broadly in January 2018, and we look forward to bringing this new platform to our consumers!