H&R Block-LendingTree Deal To Aid Clients' Financial Health
Zacks Investment Research | Mar 13, 2018 10:56PM ET
Global consumer tax services provider, H&R Block, Inc. (NYSE:HRB) announced that it has entered into a partnership with LendingTree, Inc. in order to help clients better understand their financial situation. The deal will also provide clients easy access to their credit score, LendingTree Academy and others.
LendingTree operates solely in the United States and is considered to be the nation's leading online loan marketplace. It provides consumers with an array of online tools and information to help them find the best loans for their needs.
H&R Block assists people in preparation and filing of tax returns and educate taxpayers about impact of taxes on lives. Both the companies are centered around empowering consumers with financial knowledge and tools. The partnership will provide an easy way for clients to have access to their updated credit score every month and is considered as a leap in promoting financial literacy and spreading awareness among masses.
Through a MyBlock account (a secure online portal by H&R Block), users have 24/7 access to the documents they have uploaded on the portal for their own use or share them with H&R Block tax professionals.
With the new partnership, users will be able to access LendingTree seamlessly using their MyBlock account, so that users can access their updated credit scores every month. My LendingTree also offers customized insight into factors affecting credit scores, and suggests ways for credit improvement, H&R Block has also made several enhancements to its online digital tax software to improve monetization and conversion. It is focusing on its core tax business. The company expects to continue with improved financial performance with increase in client trajectory. This partnership will open up additional revenue-generating opportunities for the company in the future.
H&R Block offers tax services through retail tax offices in the United States, Canada and Australia, and its H&R Block At Home software and online solutions. The company operates as a single segment which includes all of its continuing operations, designed to enable clients obtain tax preparation and related services smoothly. H&R Block’s shares have remained flat in the last three months compared with the Zacks Investment Research
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