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Quicken.com Introduces MyFinances to Allow Consumers to Access and Understand Their Investments, Banking and Bills From One Web Page
MyFinances Lays Foundation for Broader Strategy Enabling Consumers to Consolidate and Manage Their Financial Lives in Less Time and With Less Effort
Mountain View, Calif. - April 19, 2000 - In response to growing consumer demand for comprehensive, secure and simple financial management capabilities, Intuit's (NASDAQ: INTU) leading e-finance site Quicken.com (www.quicken.com) today announced MyFinances. MyFinances is a comprehensive personalized financial dashboard, which not only allows consumers to consolidate their personalized data, their investment portfolio, banking and credit card account data and bills, but also enables users to understand their data with portfolio-specific news, alerts and more on a single Web page. In conjunction with this news, Quicken.com said MyFinances provides consumers access to greater than 40% of U.S. commercial checking and savings accounts, 50% of credit card accounts, 80% of online brokerage accounts and a variety of billers.

In addition, Quicken.com launched several enhanced Web features, including a redesigned portfolio, a comprehensive Mutual Fund Evaluator and My Last Five Quotes- all designed with the same focus on helping consumers save time and effort in managing their finances. Along with MyFinances, the new Quicken.com features accomplish this goal in three key ways. First, through personalization, consumers can effortlessly get right to their relevant information without wading through excessive information. Second, through consolidation of their finances, consumers can see an overview of their financial picture all in one place and take action on key tasks without having to bounce all over the Web. And finally, step-by-step tools help consumers simplify complex tasks, such as understanding whether to buy, hold or sell an investment - even considering tax implications. The result: consumers can make confident decisions quickly and easily.

"Research shows that a majority our of our customers have relationships with over thirteen financial institutions and are looking for the time savings and convenience of managing all of their finances from a single location," said Roy Rosin, Director of Marketing, Quicken.com. "MyFinances helps people efficiently see how they are doing on their bank account balances or investments, what's moving their stocks or the market, and what items - such as bills coming due - they need to take action on to stay up-to-date. Additionally, compared to other sites, MyFinances goes beyond aggregation by providing a launch pad into Quicken.com's deep tools that help consumers cut through the clutter and make most of their financial lives."

Noting that online bill payments are expected to increase from less than 1% today to over 25% in 2004 according to Gartner Group, Rosin added that Quicken.com will be executing a strategy for expanding beyond MyFinances in coming months.

"We are committed to continuously enhancing Quicken.com to meet consumers' growing need to manage finances faster and more efficiently," said Rosin. "MyFinances is the foundation on which we will continue to offer consumers the benefits of consolidating their finances."

The strategy will include integrating Quicken software with Quicken.com, giving Quicken users anytime anywhere access to their finances increased account consolidation and connectivity covering more brokerages, banks, credit cards, 401(k) providers, and billers; and integration providing consumers a comprehensive, more accurate and informed view of their financial lives.

MYFINANCES
MyFinances, accessible from the top of all Quicken.com pages, is one of the most comprehensive online financial offerings on the Internet, and the first Web-based service to allow consumers to view, track and pay bills from the same page they use to manage the rest of their financial lives. Requiring very little data entry, consumers can create a consolidated, personalized view of their investment portfolio, bank and credit card account data and portfolio-specific news and alerts on a single page. Consumers choose the information they want to see, as well as how they want to see it, using simple customization tools. MyFinances also serves as a springboard for users to delve deeper into Quicken.com to access some of the best financial and investment evaluation tools and content on the Web. Among the information MyFinances offers:

  • Bank transactions/account balances
  • Credit card transactions/account balances
  • Bill presentment/payment capabilities
  • Reminders of bills coming due
  • Customizable portfolio tracking
  • Portfolio-specific news/top daily news
  • Analyst alerts on the stocks you own
  • Historical investment performance data

Online Banking
MyFinances allows users to view and download bank and credit card statements as well as edit and store transaction history for more convenient record keeping. MyFinances also provides individuals with easy balance and transaction updates through connectivity to greater than 40% of all U.S. commercial checking and savings accounts, 50% of all credit card accounts and 80% of all online brokerage accounts.

Bill Payment & Presentment
MyFinances currently allows consumers to view and pay bills online at no cost with 30 participating billers; additionally consumers can pay any bills from even non-participating billers for a nominal fee, as long as their payment is drawn from a U.S. account. For users, this means not having to separately log into multiple billers' sites to manage their bills. Using this system, consumers are now able to pay any of their bills online, regardless of whether they originate as electronic or "hard copy" paper bills. Customers get e-mail notification when electronic bills arrive, and can pay them online with services that present bills via the Internet. At present, Quicken.com has relationships with many bill providers, including CheckFree and Transpoint, and soon expects to add a "scan and present" service with CyberBills.

ADDITIONAL NEW FEATURES
MyFinances is also a springboard to further delve into Quicken.com to tap best-of-breed investment tools and content:

Investment Portfolio Enhancements
The improved investment portfolio helps consumers answer the question "How am I doing?" in relation to today's stock prices, portfolio value, historic performance, fundamentals and tax implications, and by doing so puts users' investment data into context, thus helping them make more informed investing decisions. For example, consumers can save time and effort by simplifying previously complex tasks such as understanding the tax implications of selling an investment that they've held for less than 12 months. These views provide instant insight without the need to do any difficult calculations. Recent investment portfolio enhancements include easy access to Quicken.com's best-of-breed tools, as well as connectivity to greater than 80% of all online brokerage accounts.

Mutual Fund Evaluator
The new Mutual Fund Evaluator provides key metrics for analyzing mutual funds. As a spin-off of Quicken.com's award-winning Stock Evaluator, the Mutual Fund Evaluator provides users with a step-by-step analysis of a wide range of mutual funds. This tool walks users through key metrics-risk vs. return, fund holdings and cost of ownership-that should be considered before choosing a fund, as well as tracks up to 10 years of historical data and helps users understand the fund's potential prospects. The Mutual Fund Evaluator is a free tool that takes consumers step-by-step through not only what they should consider when deciding on a mutual fund, but also how to interpret and make sense of the data so that they can determine if the fund is an attractive one.

My Last 5 Quotes
For easier research and comparison of investments, My Last 5 Quotes remembers the last five ticker symbols the user enters. This feature is another example of how Quicken.com is using personalization to minimize the amount of time users spend on their personal finance s. As a consumer looks up stocks or funds, Quicken.com automatically personalizes the quotes and research page so they can instantly bring up key information on desired investments with just one click.

 
About Quicken.com
Quicken.com (www.quicken.com), Intuit's (NASDAQ: INTU) leading e-finance site, brings together tools, resources and expertise to help empower consumers to make confident investment and financial choices. Once consumers have determined their financial needs, Quicken.com can help them reach a solution for all areas of personal finance management, including investments, insurance, tax and mortgage. Most of which is available for FREE. Quicken.com content is also distributed through America Online and Excite.
 
About Intuit
Intuit Inc. (NASDAQ: INTU) is the leader in e-finance, including financial software and Web-based services. Intuit develops and markets Quicken®, the leading personal finance software; TurboTax®, the best-selling tax preparation software; and QuickBooks®, the most popular small business accounting software. Electronic bill pay was developed and is owned by a joint venture company in which Intuit is a participant. The service is offered on Quicken.com pursuant to a license agreement between Intuit and the joint venture.

Intuit's Quicken.com® Web site (www.quicken.com) is a leading financial Web site, offering a comprehensive set of financial news, information and tools, including insurance, mortgage, investment and tax preparation services. Intuit's products and services enable individuals, small businesses and financial professionals to better manage their financial lives and businesses.

 
Intuit, the Intuit logo, Quicken, QuickBooks, QuickBooks Pro, TurboTax and ProSeries, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Quicken.com, QuickenInsurance, Quicken Loans and Lacerte, among others, are trademarks and/or service marks of Intuit Inc., or one of its subsidiaries, in the United States and other countries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.
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