In December 2020, credit karma was acquired by intuit in a deal. This merger facilitated the convergence of two prominent entities in the financial technology sector, each with it’s own unique strength. Intuit know for it’s product such as TurboTax and QuickBooks, aimed to expand its presence in the personal finance space by integrating credit karma’s services.
The integration of credit karma into intuit’s ecosystem allowed a more comprehensive suite of financial tools. Users can now connect their credit karma and intuit accounts. Although the pros of this acquisition were appealing, most users experienced concern onpotential changes to privacy policies, data security, potential fee structures or new terms of service that could be introduced after the merger.To address these concerns, Intuit committed to maintaining credit karma as a separate brand and pledged not to use, users credit data for targeted advertising.
This integration strategically offers each user a comprehensive perspective on their financial landscape,from tax filing to credit monitoring and beyond. This powerful synergy is definitely what the future of finance needs.