Building on the success/momentum of Credit Karma’s first-of-its-kind enterprise platform, Lightbox, we are pleased to announce our hiring of the team at Bitmatica, who have been already helping us with the backend platform powering Lightbox for nearly 4 years.
Lightbox allows lenders to leverage thousands of de-identified data points from Credit Karma members to help us provide our members with greater certainty that they will be approved if they apply. The Bitmatica team will be working on improving Lightbox workflows in order to make the platform easier to use for Credit Karma’s various financial product partners. The Bitmatica team will also be aiming to help Credit Karma’s financial product partners customize Lightbox offers for the specific needs of our members
Lightbox provides three crucial elements: certainty, control and speed that help our partners and members alike. Here’s how:
- Certainty. Members can apply for financial products they have high-likelihood to be approved for, which helps eliminate much of the uncertainty involved when applying for financial products.
- Control. Lenders have traditionally targeted consumers through slower marketing channels, like direct mail. With Lightbox, lenders can set parameters for the type of borrowers they’d be willing to lend to and make adjustments in real time as market conditions or other factors change. This gives them control of their business in a way that didn’t exist before.
- Speed. Historically, banks and other financial institutions have not been equipped with the tools needed to make quick changes to their marketing strategies. Changes that used to take weeks, requiring manual updates and engineering support, can now be done through Lightbox in minutes and without the help of an engineer. This ability to make changes quickly helps businesses react fast, limiting risk to the business–this was a key differentiator during the most uncertain times of the pandemic.
When Credit Karma joins forces with a company, it’s important for us to share a like-minded mission of championing financial progress for all. Since its inception over 9 years ago, Bitmatica has been focused on using technology to solve complex problems across industries including healthcare, personal finance, logistics and more. Our teams have already been working on solving hard consumer finance problems so the bringing on the team was a natural next step in our relationship with the team at Bitmatica. Bitmatica’s team of 8 people joins Credit Karma’s growing data science and engineering team.
We’re aiming to give all Americans access to the best-priced financial products — by creating a platform where we apply machine-learning to surface the best, most certain offers to fit our members’ financial situations. The Bitmatica team will help us move even faster to deliver on that vision.