Intuit Inc. (NASDAQ: INTU) today announced that Discover Brokerage Direct has begun to offer the Online Investment Tracking service through the Quicken® 98 for Windows software.
Discover Brokerage Direct joins the growing number of top tier investment firms that offer easy access to customers' brokerage and mutual fund account information through the Quicken software. Quicken continues to lead all competing personal finance software packages in its ability to provide access to the greatest number of individual investor accounts at the greatest number of investment firms.
The Online Investment Tracking service offered in Quicken 98 for Windows allows individual investors to connect directly to brokerage and mutual fund account information with participating brokers and financial institutions via the Internet through the Open Financial Exchange™ (OFX) communication specification. Investors can access their transactions, balances, and holdings as well as link to their investment firm's Website to execute trades. In addition, investors have the ability to take advantage of the reporting and tracking features which have made Quicken the #1 best selling personal finance software.
Quicken has over 10 million users, 80 percent of whom have investments, and who represent an extremely attractive market opportunity for financial service companies seeking affluent, educated, and computer-literate customers. Intuit also offers an award winning web site, Quicken.com™, which helps consumers reach a confident solution for all areas of personal finance management, including investments, insurance, tax and mortgage.
"We're proud to have Discover Brokerage Direct as one of our partners and are excited to provide their customers with a comprehensive and easy to use software solution to keep track of their investments," says Mark Goines, Intuit's SVP of Consumer Products.
"Our partnership with Intuit allows Discover Brokerage customers who use Quicken to track account information and place trades easily with Quicken," said V. Eric Roach, President of Discover Brokerage Direct. "The advantage for Discover Brokerage is that over 10 million Quicken users can be exposed to the premier online brokerage services of Discover Brokerage Direct," Roach said.
With Online Investment Tracking through Quicken 98 for Windows, Intuit provides financial services companies a new channel to reach and serve their investment customers. Brokers and financial services companies supporting the OFX specification can offer Quicken 98 for Windows users a direct connection via the Internet to retrieve current balances, transactions, and holdings from their investment accounts and automatically update their Quicken accounts. Quicken also offers investors the ability to place trades via links to their financial institutions' Websites.