Bankrate Acquires Detroit-primarily based credit Monitoring firm Quizzle
Bankrate, the brand new York-primarily based aggregator and publisher of online content about personal finance, announced (April 03, 2015) that it acquired the Detroit credit-monitoring firm Quizzle. The phrases of the deal weren’t disclosed.
Quizzle used to be a part of the “family of corporations” below the Quicken Loans umbrella, created in 2008 as a distinct venture by the selling staff at Quicken, which is the u . s .’s greatest online mortgage lender. Quizzle’s CEO Todd Albery mentioned in a 2012 interview with Xconomy that he wished to create a paradigm shift in the way in which people interacted with their credit score scores by way of demystifying the method.
“We deliberate to construct a super know-how company, and if an acquisition was once in the cards, we’re overjoyed about that—especially with an excellent firm like Bankrate,” he said.
Quizzle hopes to take the disgrace out of finding out one’s credit score score and then, when appropriate, assist consumers construct that quantity up via free reviews and credit development instruments. the corporate also goes after customers who’ve been rejected for a house loan by means of Quicken Loans, and helps get them stable sufficient to transform a Quicken customer. Albery said that Bankrate used to be particularly interested in Quizzle’s “suggestion engine,” which appears at more than just a client’s credit score rating to resolve what sorts of monetary products to supply.
“the advice engine takes quite a bit into consideration, together with targets and intent,” Albery stated. “now not everybody has a monetary planner they may be able to name. We’re looking to ask questions and provide options.”
although he couldn’t go into element, Albery mentioned your next step is for Quizzle to integrate its relationship-constructing know-how into the Bankrate framework in order that it may possibly have follow-up conversations with visitors to the web site. “they have a great provider that we want to take to the subsequent stage.”
As part of the acquisition, Bankrate will continue Quizzle’s know-how platform, seller relationships, and more than 2 million accounts. the company, which has 19 staff, will stay primarily based in Detroit, Albery said—a decision that took place after Bankrate visited and toured the Motor metropolis.
“Quizzle’s acquisition represents a huge milestone for Detroit’s tech scene,” he added. “For a the big apple company to come back in and see all of the exciting issues happening in our tech scene is slightly little bit of a vote of confidence for the businesses born and bred right here.”
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