From North of the Boarder......"This agreement gives financial institutions exactly what they've been asking for direct access to more than 10 million Quicken customers who are already using computers to manage their finances plus the freedom to deliver branded products and services that drive their own business goals," said Bill Harris, executive vice president of Intuit."
Intuit, Meca Join Forces To Offer Custom Versions Of Quicken To Financial Service Companies
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
MOUNTAIN VIEW, CALIFORNIA and TRUMBULL, CONNECTICUT--Financial Institutions Can Now Uniquely Brand and Tailor Quicken for their Customers
MECA Software, L.L.C. and Intuit, Inc. (NASDAQ-INTU) today announced an exclusive agreement whereby MECA will develop and market customized versions of Quicken personal financial management software with unique branding and other features for individual financial institutions for distribution to their customers in the U.S. and Canada.
Under terms of the agreement, MECA will complement the development of its own financial management software product, Managing Your Money, with the ability to further develop its rapidly growing software customization business with the Quicken code base. Intuit will team with MECA to deliver custom versions to a broad range of financial institutions, including banks, brokerages and insurance companies. Financial terms of the deal will not be disclosed.
"This agreement gives financial institutions exactly what they've been asking for direct access to more than 10 million Quicken customers who are already using computers to manage their finances plus the freedom to deliver branded products and services that drive their own business goals," said Bill Harris, executive vice president of Intuit.
"Financial institutions want and need to maintain and solidify their relationship with their own customers. Many financial institutions customers already use Quicken, and are very loyal to their financial institution," said Paul Harrison, president of MECA. "By offering a customized and uniquely branded version of Quicken, financial institutions will now be able to offer their customers an even broader choice of personal financial management software, while enhancing their brand identity. Consumers will benefit from versions of Quicken which can be much more tightly integrated with those products and services offered by their primary financial institution."
"As a result of this alliance between MECA and Intuit, Royal Bank clients can benefit from an enhanced online banking service," said Maurice St. Jean, Vice President, Strategies and Alliances, Royal Bank of Canada. "The alliance gives Royal Bank an opportunity to build on the successful experiences our clients have already had with Managing your Money. I expect our clients will welcome the popular, award winning Quicken products," St. Jean said.
Using Quicken source code as the base, MECA will work closely with its financial institution customers to develop customized PC based personal financial management software products that address a broad range of financial needs and opportunities. While specific features of each version are the decision of each institution, MECA expects that most will want to include embedded browser links to their own Web sites to enable such activities as account balance inquiries, information exchange, sales and marketing, and transactions over the Internet.
To ensure easy Internet and Web links, MECA will support broad connectivity, including connectivity to Integrion's Interactive Financial Services (IFS) platform.
About Intuit
Intuit, Inc., a financial software and Web based services company, develops and markets Quicken, the leading personal financial 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 financial news, information and tools, including leading investment, mortgage and insurance sites. Intuit's products and services enable individuals, small businesses, and financial professionals to better manage their financial lives and businesses.
About MECA
MECA Software, L.L.C., jointly owned by Royal Bank of Canada, Bank of America, NationsBank, Bancorp, Fleet Financial Group, Citibank and New England Financial, is the leader in the design, development and execution of customized software and service solutions for the electronic delivery of financial services products and services. MECA offers branded software solutions which enable financial services providers to offer their customers electronic access to a broad array of financial product and service offerings.
Intuit, the Intuit logo, Quicken, QuickBooks, QuickBooks Pro, TurboTax, MacInTax and ProSeries, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Quicken.com, InsureMarket, BankNOW, Quicken Financial Planner and QuickenMortgage, 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.
MECA, MECA Software, the MECA logo, Managing Your Money, the Managing Your Money logo, and MoneyScape among others, are registered trademarks and/or registered service marks of MECA Software, LLC in the United States and other counties. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.
FOR FURTHER INFORMATION PLEASE CONTACT:
Intuit Jennifer Glass (650) 944 3569 or Thomas Associates Lauren Lum (650) 596 2700 or The Krantz Group Melissa Krantz (212)891 7235
11:03 EST MARCH 30, 1998 |
