Intuit Introduces Online Investment Tracking in Quicken 98
MOUNTAIN VIEW, Calif. -- Intuit, Inc. (Nasdaq: INTU) today announced Quicken(R) Online Investment Tracking, its first investment account download service. Featured in the newest version of the best-selling personal finance software program, Quicken Deluxe 98 for Windows, Online Investment Tracking directly connects investors to brokerage and mutual fund account information with participating brokers and financial institutions via Open Financial Exchange data communication protocols over the Internet.
Using Online Investment Tracking, investors can now download directly from top financial services companies, including Accutrade, Inc.; American Century Investments; AmeriTrade, Inc.; Charles Schwab & Co., Inc.; DLJdirect Inc.; DST Systems, Inc., the leading provider of record keeping services to the mutual fund industry; E*TRADE Securities, Inc.; Fidelity Investments; PaineWebber, Inc.; Smith Barney; T. Rowe Price and Waterhouse Securities. Other financial services companies are expected to offer Online Investment Tracking as they complete their Open Financial Exchange server development programs.
"With Online Investment Tracking, financial institutions gain an extraordinary ability to better serve their customers with new and compelling online services," said Bill Harris, executive vice president of Intuit. "This is also Intuit's first service to deliver complete investment information directly into Quicken."
Quicken has 10 million users, 80 percent of whom have investments, and who represent an especially attractive market opportunity for financial services companies seeking affluent, educated and computer literate customers.
With Quicken Online Investment Tracking, Intuit provides financial services companies a new channel to reach and serve their investment customers.
Brokers and financial services companies supporting the Open Financial Exchange specification can offer Quicken Deluxe 98 for Windows users a direct connection via the Internet to retrieve current balances, transactions and holdings from their investment accounts. Financial institutions can also offer investors the ability to place trades via links to their websites through Quicken.
Intuit will introduce additional Open Financial Exchange-enabled versions of desktop software and Web-based interfaces in the coming months.
About Open Financial Exchange
Open Financial Exchange is a unified specification for the electronic exchange of financial data between financial institutions, business and consumers via the Internet. Created by Intuit, Microsoft and CheckFree, Open Financial Exchange supports a wide range of financial activities including consumer and small business banking; consumer and small business bill payment; bill presentment and investments, including stocks, bonds and mutual funds. Other financial services, including financial planning and insurance, will be added in the future and will be incorporated into the specification.
The Open Financial Exchange specification is publicly available for implementation by any financial institution or vendor, and is being used by Intuit, Microsoft and CheckFree as the primary mechanism for supporting financial data exchange in their products and services.
About Intuit
Intuit Inc. a financial software and Web-based services company, 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. Intuit's quicken.com Web site offers a complete set of personal finance news, information and tools including the leading mutual fund and insurance sites. Intuit's products and services enable individuals, small businesses and financial professionals to better manage their financial lives and businesses.
NOTE: Quicken, Intuit and the Intuit logo, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Other brands or products are trademarks or service marks of their respective holders and should be treated as such.
/CONTACT: Debra Kelley, 650-944-5628, or debra_kelley@intuit.com, or Liz
Einbinder, 650-944-5194, or liz_einbinder@intuit.com, both of Intuit/
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