e-Finance leader, Intuit Inc. (NASDAQ: INTU) today announced that it will expand its "My Accounts" by Quicken service; giving consumers even more power to create a truly consolidated view of their personal finances from one single location on the Web. The ability to access data from more than 40 leading bank, brokerage and credit card providers to the "My Accounts" service is designed to provide consumers with anytime, anywhere access to their own personalized financial portfolio. The expanded "My Accounts" by Quicken service is expected to be available on Intuit's leading e-finance site, Quicken.com, as well as on Excite and WebCrawler by Spring 2000. The service is also expected to be available on AOL.com and additional major Web portals in the coming year.
First introduced in November 1999, "My Accounts" by Quicken is designed to allow customers to easily create their own personalized "financial dashboard." When available, the expanded "My Accounts" by Quicken service will allow consumers to quickly and easily access their bank account balances, credit card transactions and balances, investment portfolios, and even view and pay all of their bills online& all from one single Web page. By helping consumers consolidate all of their financial data in one location for "anytime, anywhere access," Intuit will be providing all Internet users with one of the most comprehensive personal finance tools on the Web.
"Intuit's goal has always been to revolutionize the financial lives of our customers, regardless of whether they use our desktop software, Internet services, or a combination of both," said Mark Goines, senior vice president for Intuit's consumer finance division. "More and more consumers today hold accounts with multiple financial institutions, and our research shows that many would like to be able to view and access these accounts from one single location. This type of "consolidated personal portfolio" technology has been available in our Quicken desktop software for some time now and we are pleased to extend these capabilities to our growing base of Internet consumers."
Through the expanded service and with a customer's permission, Intuit will now be able to provide "My Account" users with more of their personal account data than ever before by connecting with financial institutions through a variety of methods, including OFX, Web Connect, scanning and H-Connect.
Banking Institutions
Customers from 30 leading banks will soon be able to choose to view and access their bank account data along with the rest of their personal financial information using the expanded "My Accounts" service. A complete list of featured banks that will be added to the expanded "My Accounts" by Quicken service can be found on the Web at www.intuit.com/corporate/myaccountslist.
Credit Card Providers
Intuit has been working with Discover Card since the launch of "My Accounts" in November 1999, to enable Discover card members to view and access their credit card account data in the context of their larger financial portfolio. Soon, customers using credit cards from 6 leading credit card providers will be able to choose to view and access their credit card account data along with the rest of their personal financial information using the expanded "My Accounts" service. A complete list of credit card providers that will be added to the expanded "My Accounts" by Quicken service can be found on the Web at www.intuit.com/corporate/myaccountslist.
Brokerage Firms
Intuit has been working with TDWaterhouse since the launch of "My Accounts" to enable TDWaterhouse customers to view their investment portfolios along with their banking information, credit card balances and bills. Soon, customers with accounts from 13 leading brokerage firms will be able to choose to view their investment portfolios along with the rest of their personal financial information using the expanded "My Accounts" service. A complete list of brokerage firms that will be added to the expanded "My Accounts" by Quicken service can be found on the Web at www.intuit.com/corporate/myaccountslist.
Electronic Bill Presentment and Payment
Intuit's electronic bill payment and presentment (EBPP) service is the first Web-based online billing service to provide a central point of access for consumers to view, track and pay all their bills from the same site they use to manage the rest of their financial lives. For consumers, this means not having to separately log into multiple billers' sites to manage their bills. Through its relationships with leading online bill processors, Intuit will be able to offer consumers more electronic bills than ever before.
Expanded Connectivity to Financial Institutions
Intuit is the leading provider of financial connectivity and solutions linking consumers with more than 1000 financial services companies. 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. In response to customer demand, and only with a customer's permission, Intuit is now able to use a variety of secure connectivity methods to provide its consumers with an easy way to access all of their financial accounts in one place. Intuit currently utilizes a variety of connectivity methods including OFX, Web Connect, scanning and in the near future, H-Connect.
