Can Credit Karma Help Us Manage Our Money?

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In this episode of The Science of Change, Kristen talks to Product Manager and the Growth Lead for Credit Karma Money, Kyle Thibaut. Hop in and learn about this company’s behavioral science and its expertise in defaulting people into good financial behavior.

Research for this episode was compiled and summarized by Irrational Labs. Read and download the Credit Karma Citations.

Jump straight into:

(01:10) - How much do you have in your emergency fund?: Credit Karma’s start as a savings account service.

(10:51) - Instant Karma!: Getting people to spend money and sign up for their service with prize-linked spending.

(16:49) - Sorting old obstacles for debit card users: Removing friction, setting new users up quickly, and adding digital options to the user experience.

(23:13) - How paternalistic should an app be?: Helping people save money and have a great credit score.

(27:36) - Multi-step flows vs. single page forms: What works better for Credit Karma data collection.

(30:56) - What is your job?: How ranking by popularity can decrease time and energy spent making choices.

(35:03) - What’s next for Credit Karma?: The future of money, FinTechs, and how to make financial products for today and tomorrow.