Intuit Turbo and Mint to Demonstrate the Future of Personalized Consumer Finance at Money 20/20 2018

Expanded Platform Capabilities and Strategic Partnerships with
LendingClub and Wealthfront Help Improve Consumer Experience

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–At Money 20/20 2018 in Las Vegas, October 21-24, Intuit Inc.
(Nasdaq: INTU) will introduce several exciting new capabilities in
consumer finance. With early adopter partners LendingClub and
Wealthfront, users will be able to reduce the loan application process
or receive personalized financial advice based on verified TurboTax^®
data. The expansion of the platform will provide access to potentially
better rates and valuable insights for customers while also delivering
exclusive value to financial partners.

“With more than 25 million users and rich insights into their
financial profile, Mint and Turbo are uniquely positioned to deliver
value to both consumers and strategic partners,” said Varun Krishna,
Vice President of Product Management for Intuit’s Consumer Division.
“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.”

• Application Pre-Fill: Users
  will be able to connect their TurboTax account to pre-fill
  applications within Turbo℠ or Mint^®. 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 more than 95% of
  qualifying Turbo users have consented to pre-fill their application
  with their TurboTax data. Existing Intuit partners are leveraging
  pre-qualification within Turbo to generate up to a nine times
  conversion rate in personalized offer performance.
• New Partnerships: Intuit is
  announcing partnerships with market leaders LendingClub and
  Wealthfront to launch a new capability that allows customers with one
  click to choose to import 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 will be able to open an
  account much faster and receive higher fidelity personalized financial
  advice.
• 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 will be 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.

“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,” said
Krishna. “We believe we can digitize the experience by allowing
consumers to consent to use tax and financial data more seamlessly
across the entire application process, which benefits both lenders and
consumers alike.”

“We’re excited about partnering with Intuit and the power tax data
has to help us not only speed up the application process but also unlock
the access to credit for customers that ordinarily we might not be able
to serve,” said Cole Gillespie, Vice President and Head of Business
Development at LendingClub. “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.”

“Partnering with a company like Intuit is a dream come true,” said
Andy Rachleff, CEO of Wealthfront. “They don’t just pay lip service to
caring about the client. They constantly challenge themselves to provide
more value. Integrating with TurboTax data that customers agree to
provide will allow Wealthfront to continue to raise the bar on what it
means to deliver accessible, convenient and deeply personalized
financial planning. We can’t wait to do more together.”

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.

About Intuit

Intuit’s mission is to Power Prosperity Around the World. Our global
products and platforms, including TurboTax,
QuickBooks, Mint
and Turbo, are designed to empower
consumers, self-employed and small businesses to improve their financial
lives, finding them more money with the least amount of work, while
giving them complete confidence in their actions and
decisions. Our innovative ecosystem of financial management solutions
serves approximately 50 million customers worldwide, unleashing the
power of many for the prosperity of one. Please visit us for the latest
news and in-depth information about
Intuit and its brands and find us on social.

Contacts

Intuit Inc.
Keri Danielski
Head of Communications, Intuit
Turbo & Mint
Keri_Danielski@intuit.com