-Credit Karma expands personal finance hub with High-Yield Savings Accounts-
Credit Karma has joined the high-yield savings race.
The 12-year-old personal finance company, which is now worth $4 billion, will roll out a savings account product for U.S. customers on Oct. 28.
“Our model is win-win, which means if we recommended something to you that you found useful and you apply for it, we make money on our side and the partner is happy because they got a validated customer,” Chawla said.
Based on the data it’s already accumulated on its customers, Credit Karma is able to facilitate a quick sign-on to a new product with a minimal number of clicks, he noted.
According to Alyson Clarke, principal analyst at Forrester Research, Credit Karma’s foray into savings accounts aligns with its focus on financial health.
Extrememly popular with both Babay Boomers and Millenials, Credit Karma offers a free weekly credit check and credit monitoring.
View full story at Bankinnovation.net
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