Intuit | December 02, 2022
Intuit the global financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced it has entered into an agreement to acquire SeedFi, the partner behind Credit Karma’s Credit Builder1, which helps low, or no-credit borrowers build credit while saving money, all for free. Credit Builder offers a line of credit and a secured savings account enabling members to build their credit while building up savings. By combining SeedFi’s Credit Builder technology with Credit Karma’s long standing relationships with credit bureaus and others in the credit ecosystem, Intuit will be able to move with greater speed and scale to help Credit Karma members make financial progress.
Late last year, Credit Karma entered into a partnership with SeedFi to offer Credit Builder to its members, enabling them to make regular payments, starting with as little as $20 per month or $10 per paycheck. By reporting these payments to the credit bureaus, members took steps toward improving their financial health. Through this partnership, members increased their score by an average of 21 points in as little as 30 to 45 days2 and built up over $10 million in savings. This acquisition will enable Credit Karma Money to continue to build on that momentum and help put more members on a path to financial security.
“Credit Karma Money was built to change consumers’ relationship with money and help them develop responsible financial habits, like staying on top of their bills and spending within their means. With Credit Builder, we are able to differentiate ourselves as one of the best accounts for building credit. We have long standing relationships with credit bureaus and others in the credit ecosystem, and SeedFi has built great technology, so when combined, we will move even faster and build products to help more members, including those who need it the most.”
Poulomi Damany, SVP and GM for Credit Karma Money and Tax
A recent study from the Consumer Financial Protection Bureau showed that nearly three-quarters of Americans with no emergency savings have credit scores below 660. The correlation between low credit scores and lack of emergency savings persists over time, and SeedFi takes that problem head-on. Similar to Credit Karma, SeedFi’s mission is to break the cycle of debt and help Americans realize their financial potential.
“We have already been working with the Credit Karma Money team for over a year to help members build their credit score and have been impressed with how Credit Karma’s mission comes through in everything the company does. SeedFi has a similar mission to help consumers become financially fit, so joining forces just makes sense,” said SeedFi co-founder and CEO Jim McGinley. “Together, leveraging Credit Karma’s resources and scale, we will be able to accelerate the momentum of Credit Builder and SeedFi’s technology capabilities to help more consumers improve their financial health.”
The transaction between Intuit and McBurberod Financial, Inc. which does business as SeedFi, is subject to closing conditions, and is expected to close in the coming months. Upon close, SeedFi will become part of Intuit’s Credit Karma business. The transaction is not expected to have a material impact on Intuit’s operating results for the full fiscal year 2023. Terms of the transaction have not been disclosed. Intuit Ventures was an investor in SeedFi’s last financing round.
Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With more than 100 million customers worldwide using TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us for the latest information about Intuit, our products and services, and find us on social.
About Credit Karma
Founded in 2007 by Ken Lin, Credit Karma, an Intuit company is a consumer technology company with nearly 130 million members in the United States, U.K. and Canada, including almost half of all U.S. millennials. While best known for pioneering free credit scores, the company’s members turn to Credit Karma for everything related to their financial goals, including identity monitoring, applying for credit cards, shopping for loans auto insurance, savings accounts and now checking accounts through our bank partner, MVB Bank, Inc., Member FDIC — all for free.
FUTURE OF HEALTHCARE, DIGITAL HEALTHCARE
BioNJ | December 07, 2022
BioNJ, New Jersey's life sciences trade association, hosted an Inaugural Health Equity in Clinical Trials MBA Business Plan Case Competition on Saturday, December 3, at Rutgers Business School. BioNJ's Business Plan Case Competition, which is part of a broader BioNJ strategic initiative of Health Equity in Clinical Trials, was designed to promote the next generation of diverse clinical trial innovators and identify innovative approaches and successful models that can be used nationally to strengthen diversity in clinical trials and expand health equity.
BioNJ believes that health equity in clinical trials is critical to deepening the understanding of the safety and efficacy of medicines in under-represented populations, expanding access to medical innovation for these populations and increasing dialogue and trust among the biopharma industry, communities and healthcare systems. By discovering new approaches, utilizing new technologies and developing new business standards to make trials more accessible, we can work to create more agile, efficient and Patient-centered medical research.
Eight teams, competing for more than $20,000 in prize money, were tasked with developing a business plan defining a new solution, application or technology to help address this important and challenging problem. Teams identified one particular type of health disparity on which to frame their proposed solutions and connected with community-based organizations to better understand the real-world barriers that exist for their chosen populations to engage in clinical trials. The disease areas on which the respective teams focused included Alzheimer's, heart failure, multiple sclerosis, diabetes type 1 and type 2, colorectal and cervical cancers, and oncology.
"There is an urgent need to bring more diversity to clinical trials in order to better serve Patients and their communities…thereby helping to address health inequities. Only by improving diversity in clinical trials will we be able to deepen our understanding of the safety and efficacy of medicines for all populations. I am extremely proud of our teams. Each of the business plans offered a unique out-of-the-box solution – helping advance our ambition to have no Patient left behind."
Amadou Diarra, Ph.D., Senior Vice President, Global Policy, Advocacy & Government Affairs for Bristol Myers Squibb; BioNJ Board Member and Chair of the BioNJ Health Equity in Clinical Trials Initiative
Live pitch presentations were made throughout the day to a Panel of Judges comprised of industry experts
Naikia Atkinson, Director, U.S. Clinical Trials Diversity and Inclusion, Sanofi
Schylr Greggs, Director, Technology Operations, Medidata
Sharon Hanlon, Head, Clinical Trial Engagement & Enrollment, Bristol Myers Squibb
Maribel Hernandez, Vice President, Clinical Operations & Special Projects, PTC Therapeutics
Jack Rosenberg, Manager, Investments and Business Development, TrialSpark
Del Smith, Co-Founder & CEO, Acclinate
Lolita Smith, Program Manager, Rare Disease Diversity Coalition, Black Women's Health Imperative
Matt Walz, CEO, TrialBee
"Although ultimately three winning teams were presented with cash prizes, each team has made a difference for Patients by offering new solutions and technologies to better serve Patients, build community trust and address gaps in health care delivery," said Paul Howard, Ph.D., BioNJ Business Case Competition Steering Committee Chair and Senior Director, Public Policy for Amicus Therapeutics. "This is just the start as we work to share these proposals more broadly."
A white paper with all of the presentations will be published in April and rolled out during BioNJ's acclaimed BioPartnering Conference – which brings together more than 500 industry professionals from around the globe. The three winning teams will present their plans during the April 18 BioPartnering Conference and all of the students are invited to attend to meet the community.
BioNJ is the life sciences trade association for New Jersey, representing close to 400 research-based life sciences organizations and stakeholders across the healthcare ecosystem from the largest biopharmaceutical companies to early stage start-ups for nearly 30 years. Because Patients Can't Wait®, BioNJ is dedicated to ensuring a vibrant ecosystem where Science is Supported, Companies are Created, Drugs are Developed and Patients Have Access to Lifesaving Medicines.
Heartcore Enterprises Inc. | November 24, 2022
HeartCore Enterprises, Inc. a leading software development company, announced that it has signed an agreement with SBC Medical Group, Inc. for its fifth Go IPO consulting service within an eight-month period.
As part of the Consulting Agreement, HeartCore will assist SBC Medical in its efforts to go public and list on the Nasdaq Stock Market Through Go IPO, the Company services clients by assisting throughout the audit and legal firm hiring process, translating requested documents into English, assisting in the preparation of documentation for internal controls required for an initial public offering or de-SPAC, providing general support services, assisting in the preparation of the S-1 or F-1 filing, and more. As compensation for its services, HeartCore expects to generate from SBC Medical an aggregate of $900,000 in initial fees. In addition, HeartCore has received a warrant to acquire 2.7% of SBC Medical’s common stock, on a fully diluted basis.
“Japanese companies continue to express interest in listing on the U.S. markets, and our team has successfully taken advantage of this wave as we executed our fifth Go IPO win of 2022. Prospective Japanese Go IPO clients have appreciated our expertise in helping private companies kickstart and navigate their capital markets journey with our white glove service and catered consultation, which has resulted in a robust business pipeline for HeartCore.”
CEO Sumitaka Yamamoto
About HeartCore Enterprises, Inc.
Headquartered in Tokyo, Japan, HeartCore Enterprises is a leading software development company offering Software as a Service solutions to enterprise customers in Japan and worldwide. The Company also provides data analytics services that allow enterprise businesses to create tailored web experiences for their clients through best-in-class design. HeartCore’s customer experience management platfor includes marketing, sales, service and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. HeartCore also operates a digital transformation business that provides customers with robotics process automation, process mining and task mining to accelerate the digital transformation of enterprises. Furthermore, HeartCore offers “Go IPO,” a consulting service where it assists private companies with uplisting onto the Nasdaq Stock Market.
HEALTH TECHNOLOGY, MEDICAL DEVICES
19Labs | December 20, 2022
In cooperation with the Ministry of Health and the Georgetown Public Hospital Corporation a telemedicine pilot program with GALE eClinics was launched in four remote areas of Guyana.
"We have reached a milestone and begin a journey that has the potential to transform health."
Dr. Leslie Ramsammy, GPHC Board Chairman
During the Telemedicine Launch, 19Labs CEO, Ram Fish, joined Guyana's Health Minister, Dr. Frank Anthony, in Masakenari, or as it is better known locally, Gunns Village. They were welcomed by the village Toshao, Paul Chekema, and the village residents. Using the newly installed eClinic system, Gunns was able to connect to the Georgetown Public Hospital and the three other villages that form part of this pilot program.
The program's purpose is to provide equitable healthcare to all of Guyana's citizens. This keeps in line with the vision of Guyana's President, Dr. Ali, of creating a 'world-class' healthcare system for Guyana. Dr. Ramsammy, began the launch by saying:
"Our ambition is to improve health care for all of our people, and as we understand that we can't put…a Georgetown public-level hospital in every village, we believe that citizens, in every part of the country, could get access to basic healthcare…We have reached a stage this morning, where we could launch Guyana's national telemedicine program."
One of the major challenges in achieving such a vision is the remote locations with the lack of connectivity. Gunns Village is a 5-day boat and land trek during the rainy season when planes cannot use the local airstrip. 19Labs is proud to provide a solution as the four health posts that are part of this pilot are now connected to the world through the internet over satellite.
With the GALE eClinic Telemedicine units, even the most isolated village now has access to top-quality medical care. In a very short time, Gunns went from an area that had no connectivity, electricity, and little medical equipment, to the ability to instantly connect to the healthcare and staff of the Georgetown Public Hospital. Dr. Anthony said:
"With the technology we have now installed, this particular health center has a full complement of internet-enabled devices which we will…be able to do ultrasounds, ECGs, and a whole host of other things to help to assess the patient."
GALE eClinics replicate the full clinical experience providing and filling the need for both general health and specialty care including prenatal, OBGYN, maternal, cardiac, and chronic condition management. Our partnership goes beyond a one-time fix. The local communities now have access to more opportunities. Ram Fish said:
"This goes even beyond just health care, [this transforms communities]. The equity that it brings to us also opens the eyes of people and places to different cultures, and different ways of doing things…It's about empowering with technology local young women and men who really become the centers of the communities beyond just health…This is the beginning of a journey…We will expand and work together to really make healthcare equitable across Guyana and beyond."
19Labs is the creator of GALE, Next Generation Point-of-Care platform for pharmacies, schools, and rural communities. GALE brings together cutting-edge diagnostic technologies from industry leaders like Zoom, Elo, Amwell, Eko, Samsung Mobile, MIR, Omron, Viasat, and many others in one smart, efficient, and cost-effective platform. It was designed from the ground up to be operated by non-healthcare professionals, in locations with limited infrastructure and optimized for low bandwidth and intermittent connectivity.