Financial Fusion, Inc. and Intuit Inc. today announced an agreement enabling Financial Fusion to offer banks, mutual fund companies and other financial services providers the ability to automatically deliver tax and financial data to customers via Intuit's leading consumer and small business software products including Quicken®, Quicken TurboTax® and QuickBooks®.
Through the alliance, Financial Fusion will work with its customers to build on the already successful TurboTax Connect program, Intuit's key tax partner initiative.
One of the many benefits of participation in TurboTax Connect is the ability to offer Instant Data Entry. Instant Data Entry is a revolutionary technology in TurboTax that fundamentally changes how people prepare their taxes. Instant Data Entry allows customers to quickly, securely and accurately retrieve 1099 data (dividends, capital gains, interest) from their financial institution and bring it directly into the correct tax forms within the TurboTax programs.
Participating companies can leverage the technological expertise of Financial Fusion to help accelerate time to market through more rapid implementation while gaining scalability to keep pace with growing customer demand.
"By working with Financial Fusion, Intuit is able to offer financial institutions a powerful ally who can provide hassle-free implementation and the high level of service and security they expect," said Jeff Plumer, director of Partner Relations for Intuit. "With Financial Fusion, Intuit is delivering on our vision of the 10-minute tax return, enabling our customers to complete their taxes in record time and make informed decisions faster and more easily than ever before."
Financial Fusion has enhanced its UniversalOFX product to include full support of the OFX (Open Financial Exchange) 2.0 protocol. OFX, the connectivity preference of financial services companies, enables financial institutions, technology solutions providers and financial software and Web services companies to create products and services that work together more effectively. With OFX, financial information can be efficiently transferred between financial services companies, their technology outsourcers and consumers who use Web and PC-based software.
Financial Fusion continues its commitment to open standards and has certified the product on the industry's leading application servers. UniversalOFX provides a powerful architecture that can accommodate high volume and functionality growth as both the needs of customers and the industry evolve.
"OFX is a strategic market for Financial Fusion," said Mike Dutton, vice president, Financial Fusion. "UniversalOFX has been widely adopted by leading financial institutions and financial service providers to support millions of end users with connectivity for their financial needs."
About Financial Fusion Inc.
Financial Fusion provides integrated financial solutions to more than 200 of the world's leading financial institutions. Global alliance partners include IBM, Sun Microsystems, and SWIFT. The company supplies service and support in 60 countries and is a wholly owned subsidiary of Sybase, Inc. (NYSE: SY).
