Intuit is expanding its role in small-business lending by leveraging real-time financial data and artificial intelligence. The company now integrates payments, payroll, and credit into a single platform to predict cash flow shortages and proactively offer capital to its users.
The scale of Intuit's lending operations has grown significantly, rising from approximately $400 million annually four years ago to nearly $7 billion in the most recent fiscal year. This growth is supported by a platform serving 10 million companies.
The platform processes an average of 625 000 data points per small business. By analyzing these real-time metrics, Intuit claims an advantage over traditional lenders who rely on outdated credit bureau reports.
Intuit has also introduced a business credit card integrated with QuickBooks to monitor employee spending. While the company utilizes AI to automate financial analysis and draft responses, human intervention remains required for final decisions regarding money movement.
