Intuit Launches Turbo, A Free Financial App That Shows Consumers Where They Stand Financially – Beyond the Credit Score
10 January 2018 - 12:00AM
Business Wire
Turbo Survey Finds That a Majority of
Millennials Don’t Think Credit Score is Best Indicator of Financial
Health
Today, Intuit Inc. (Nasdaq: INTU), the maker of TurboTax® and
Mint®, launched Turbo, the first and only financial service that
brings together the three numbers that matter most: verified
IRS-filed income, credit score and debt-to-income ratio, into a
first of its kind financial health profile. Turbo, which is
available now at www.MyTurbo.com and in the Apple App Store, shows
consumers where they truly stand financially– beyond the credit
score - so they can take the first steps toward achieving their
financial dreams.
According to a recent survey of 1,500 millennials commissioned
by Turbo, the majority are stressed and overwhelmed by their
finances. Only 12 percent feel very prepared for their financial
future and less than half feel like they make enough to pay for
bills and save for the future. To top it off, although seven in ten
millennials have checked their credit score in the last six months,
55% do not feel it is the best indicator of their financial
health.
“It's [the credit score is] one part of it. It may not
accurately paint the whole financial picture, but I've used it as
an indicator of my financial health,” said 29-year-old survey
respondent, Abigail.
With customer consent, Turbo completes the story by effortlessly
translating the verified financial data from an individual’s tax
return and credit report into a robust and easy to understand
personal profile. Key Turbo features include:
- True Financial Profile: Turbo
shows the three key numbers that matter to your financial health –
verified IRS-filed income, credit score and debt-to-income ratio.
For each of your numbers, get the “whys” behind them, key
takeaways, and comparisons to people like you.
- Customized Advice and Insights:
Turbo provides customized advice and insights, like how a user
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.
- Benchmarking: Turbo will help
consumers benchmark themselves against people like them using
verified tax and credit data, so they can see where they truly
stand financially.
- 24/7 credit monitoring: Turbo
alerts you as soon as we notice new or suspicious activity on your
credit report. Get instant access to your report and see what’s
changed.
“We are at a pivotal moment when our country’s largest workforce
isn’t collectively capable of planning for their financial future,”
said Dan Wernikoff, executive vice president and general manager of
Intuit’s Consumer Group. “Through TurboTax and Mint, we’ve
accumulated unique insights into the financial lives of millions of
consumers and with their consent have leveraged those insights to
create Turbo. It’s time to empower this generation – and everyone –
to finally know where they stand, so they can take the first steps
toward financial freedom.”
#RealMoneyTalk Campaign
The Turbo survey also found that 6 in 10 millennials are
hesitant to discuss their financial situation with friends because
they are embarrassed that they make less money or are ashamed of
poor financial decisions in their past. In light of the findings,
Turbo launched today the #RealMoneyTalk campaign. The campaign
encourages Americans to have unfiltered conversations about their
finances, so they can learn where they stand financially and take
the first steps toward achieving financial health.
“The best way to demystify money is to start talking honestly,”
said Greg Johnson, senior vice president of marketing.
“#RealMoneyTalk is about knowing where you stand – because you
can’t take the first step to financial freedom if you don’t know or
can’t acknowledge where you stand. And wherever that may be, you’re
not alone. There will be millions of others in the same situation,
right there with you.”
#RealMoneyTalk will feature honest money conversations from a
range of influential and everyday voices across @IntuitTurbo
Facebook, Twitter, and Instagram social channels, encouraging
followers to engage and share their own stories.
Availability
Turbo is free for everyone and available at www.MyTurbo.com and
in the Apple App Store. It will soon be available for Android in
Google Play.
About Intuit
Intuit’s mission is to Power Prosperity Around
the World. Its 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. Intuit’s innovative
ecosystem of financial management solutions serves partners
and 46 million customers worldwide, unleashing the power of
many for the prosperity of one. For the latest news and
in-depth information about Intuit and its
brands, visit Intuit.com and follow
on Facebook.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180109005754/en/
Intuit Inc.Ashley McMahon,
858-215-9069Ashley_mcmahon@intuit.comorOutCastAngi Ramos,
206-412-2644angiramos@theoutcastagency.com
Intuit (NASDAQ:INTU)
Historical Stock Chart
From Apr 2024 to May 2024
Intuit (NASDAQ:INTU)
Historical Stock Chart
From May 2023 to May 2024