Intuit Inc. (NASDAQ: INTU) today announced that it is providing online data connectivity and online banking services to 1031 banks, brokerages, credit unions, credit card companies and other financial services companies. Intuit software and Web services are the most connected financial solutions available today.
"In just the past six months, nearly 300 more financial institutions began working with Intuit to offer online banking via Quicken® to their customers," said Steven Aldrich, General Manager of the Financial Institutions Group at Intuit. "There is incredible momentum building around our efinance solutions as more and more financial institutions offer connectivity to their customers, and as more consumers realize the advantages of online financial services."
Intuit pioneered connectivity via Quicken beginning in 1995, and continues to lead the financial services industry as the efinance solution provider of choice for financial institutions. Intuit's industry-leading Quicken personal financial management software is used by more than 11 million consumers in the US, and Quicken.com is one of the most popular financial sites on the Internet.
Also fueling the growth in online banking is the increasing adoption of Open Financial Exchange (OFX), a unified specification for the electronic exchange of financial data between financial institutions, businesses and consumers via the Internet. The specification enjoys broad support among financial institutions and OFX Solution Providers (OSPs), including 32 leading technology companies that recently announced they will be supporting or building to OFX version 2.0.
Version 2.0 of the specification further enhances financial information exchange over the Internet by adding support for 401(k) and 1099 statement downloads, as well as bringing OFX into XML compliance, which enables users to interact with more content and applications on the Internet using XML tools. Endorsement by the industry's top system integrators, service bureaus and other OSPs reflects overall market demand and endorsement for this standard for Web-based financial data connectivity.
Intuit is a leading provider of financial connectivity and solutions linking consumers and financial services companies. 1031 banking, brokerage, mortgage, insurance and other financial services companies rely on Intuit's best selling desktop financial software and one of the Web's most popular financial sites to better serve existing customers and also to acquire new customers.
