Fintech & Ecommerce

Intuit Shuts Mint Down, Users to Migrate to Credit Carma

Budgeting app Mint by Intuit will come to an end along with the 2023 year. All the app users are asked to migrate to Intuit’s other solution – Credit Karma.

Intuit Shuts Mint Down, Users to Migrate to Credit Carma

Financial software provider Intuit has announced that it is shutting the personal finance app Mint on 1 January 2024, to reimagine it as part of Intuit Credit Karma.

Customers who decide to onboard to the updated Credit Karma will receive access to Credit Karma’s suite of features, products, tools and services, with an addition of some of Mint’s most popular features.

Namely, users will be able to track their net worth, monitor their spending habits, transactions and cash flow, receive insights on how to maximize their reward opportunities, get alerts and recommendations about their debts, etc.

Moreover, with the recent launch of Intuit Assist, a GenAI-powered financial assistant on Credit Karma, former Mint users will obtain even more help with their complex financial decisions. The virtual smart assistant is built on top of Intuit’s previous developments in the AI realm.

In June 2023, Intuit enriched its software services platform with GenOS, a dedicated operating system for generative artificial intelligence (AI) technologies. The new operating system features a suite of tools, including a developer studio, UX library, runtime layer and several pre-trained large language models (LLMs). These custom-trained LLMs focus on financial service niche applications such as solving tax, accounting, marketing, cash flow, and personal finance challenges.

At the same time, Mint users will not be able to set monthly and category budgets – the popular function of the app which is about to close. Instead, they will be encouraged to make better financial decisions and build awareness of their spending in different ways.

As a business unit, the Mint team has already been integrated into Credit Karma since last year. The amalgamation was done to combine “the money management product expertise and momentum of Mint with Credit Karma’s scale, technology and vast product ecosystem.”

Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.