The study covers one of the leading credit and financial management company in the United States. Credit Karma which started its business by offering free credit score and free credit report has moved much beyond and rolled out a series of products to cater to the full stack of the market. This study presents the evolution of Credit Karma tracking back from its starting point in 2008 when it launched its first truly free credit scores service. We have also looked at the explosive growth attained by the company and explored key strategies adopted by Credit Karma to attain growth.
As with most FinTechs, technology is at the heart of Credit Karma’s offering by using real-time Big Data Analytics to generate personalized recommendation of financial products to consumers with minimum or no human interference. While this is the main foundation of its offering, it has gone on to add many new features to the offering that not only has helped differentiate but also enabled it to attain an edge over its competitors. Credit Karma competes with various other credit and financial management companies such as Credit Sesame, NerdWallet, and Credit.com.
We have further investigated the business model of the company and represented it in the simplest possible way. The study also covers key technologies used to process the tremendous amount of data collected in real time. Its innovative free features have also equipped consumers to get more out of the platform.
We have put our analysis to deep dive into the potential chance of Credit Karma impacting the existing business and placed qualitative assessment on which segment and how much can the company impact.
Finally, we have hand picked key points that traditional market participants such as financial institutions can learn from Credit Karma. These recommendations are pinpointed and will get traditional market participants to start thinking about embracing Big Data analytics and help them defend their market from disruption.
We have added executive summary that brings all of this together in a crisp form, to help busy executive get the gist of the study and then read sections in detail that matter to them.
Key Issues Addressed
- Whether Credit Karma is complementing, extending or disrupting the credit reporting and monitoring industry
- If or not Credit Karma is impacting the industry and if it does how big is the impact
1. Executive Summary
2. Business Overview
- Solutions Offered
- Business Performance
- Investment Received
3. Strategic Imperatives
- Strategic Overview
4. Business and Disruption Model
- Credit Karma’s Business Model
- Challenges Faced by Credit Karma
6. Impact Analysis
- Impact on Financial Services Industry
7. Credit Karma’s Team
- Credit Karma’s Key Personnel
- Legal Disclaimer
- List of Exhibits