Intuit Inc. (NASDAQ: INTU) today announced Quicken Online Investment Tracking, its first investment account download service. Featured in the newest version of the best-selling personal finance software program, Quicken Deluxe 98 for Windows, Online Investment Tracking directly connects investors to brokerage and mutual fund account information with participating brokers and financial institutions via Open Financial Exchange data communication protocols over the Internet.
Using Online Investment Tracking, investors can now download directly from top financial services companies, including Accutrade, Inc.; American Century Investments; AmeriTrade, Inc.; Charles Schwab & Co., Inc.; DLJdirect Inc.; DST Systems, Inc., the leading provider of record keeping services to the mutual fund industry; E*TRADE Securities, Inc.; Fidelity Investments; PaineWebber, Inc.; Smith Barney; T. Rowe Price and Waterhouse Securities. Other financial services companies are expected to offer Online Investment Tracking as they complete their Open Financial Exchange server development programs.
"With Online Investment Tracking, financial institutions gain an extraordinary ability to better serve their customers with new and compelling online services," said Bill Harris, executive vice president of Intuit. "This is also Intuit's first service to deliver complete investment information directly into Quicken."
Quicken has 10 million users, 80 percent of whom have investments, and who represent an especially attractive market opportunity for financial services companies seeking affluent, educated and computer literate customers.
With Quicken Online Investment Tracking, Intuit provides financial services companies a new channel to reach and serve their investment customers. Brokers and financial services companies supporting the Open Financial Exchange specification can offer Quicken Deluxe 98 for Windows users a direct connection via the Internet to retrieve current balances, transactions and holdings from their investment accounts. Financial institutions can also offer investors the ability to place trades via links to their websites through Quicken.
Intuit will introduce additional Open Financial Exchange-enabled versions of desktop software and Web-based interfaces in the coming months.