(COMTEX) B: INTUIT FIRST TO OFFER CONSUMERS CONSOLIDATED VIEW OF PERS
B: INTUIT FIRST TO OFFER CONSUMERS CONSOLIDATED VIEW OF PERSONAL FINANCES ON
THE WEB WITH MY ACCOUNTS BY QUICKEN(R) CONSUMERS WILL BE ABLE TO Manage and Pay
Bills, Track Investment Portfolios And View Credit Card and Bank Transactions
From Multiple Financial Services Companies - All From a Single Location on the
Web
MOUNTAIN VIEW, Calif., Nov 17, 1999 /PRNewswire via COMTEX/ --
e-Finance leader Intuit Inc. (Nasdaq: INTU), today introduced My
Accounts by Quicken(R), a new suite of services which will allow
consumers to view and manage their finances anywhere using a Web
browser. By partnering with leading e-commerce and e- services
companies, Intuit has developed a personalized financial "dashboard"
that allows consumers to view and pay all their bills, manage multiple
investment portfolios and view credit card and bank account balances --
all from a single Web site. The launch of My Accounts by Quicken marks
the first service in which consumers can manage accounts from multiple
financial services and billers in a centralized location.
Quicken.com, www.Quicken.com, Intuit's leading e-finance site, will be
the first financial portal to feature this new set of personal Web
finance tools, which will be called My Accounts. Intuit also intends to
provide this functionality to other portals and bank Web sites.
Excite@Home and Concentric are both expected to offer Intuit's new
financial services to their subscribers in the near future.
Intuit worked with industry and technology leaders to offer the
industry's most comprehensive suite of e-finance services to consumers.
These partners include bill publishers CheckFree, CyberBills, Derivion,
OTS/YourAccounts.Com, Pitney Bowes and Princeton eCom; online brokerage
TD Waterhouse Group, Inc., Discover(R) Card and technology providers
Corillian, FTI and Just in Time Solutions. Through its relationship
with CheckFree, Intuit is also working with eighteen billers for online
bill presentment and payment, including MCI WorldCom, AMOCO, GTE
Wireless and utilities such as BellSouth, Florida Power & Light, and
Boston Edison.
"My Accounts by Quicken is another example of how Intuit is
revolutionizing the e-finance space by empowering individuals to easily
evaluate and act on their financial information any time, anywhere,"
said Bill Campbell, chairman of the board of directors and acting CEO
of Intuit. "The average consumer has multiple banking, brokerage and
billing relationships and our research shows that many consumers would
like their account information aggregated in one place."
By accessing a consolidated view of their finances in one place,
consumers can maintain accounts with multiple financial institutions
while enjoying the convenience of having their accounts summarized on a
single Web site. With a click of a mouse, consumers will be able to
view a personal financial page that summarizes the bills they need to
pay, their investment accounts from participating brokers, credit card
balances, bank account balances and links to their favorite financial
Web sites. Consumers can then view and store cleared transactions, view
a bill in detail or choose to pay a bill in part or in full.
"Independently, these financial management services provide significant
benefit to consumers by saving them time and money," said Eric Dunn,
chief technology officer for Intuit. "Intuit's consolidation of these
tools in one location increases the value exponentially, providing a
complete set of Web finance services that are unmatched in the
industry."
Electronic Bill Presentment and Payment (EBPP) Intuit's new EBPP
service is the first Web-based bill presentment and payment 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. Using this system,
consumers will soon be able to pay any of their other bills online,
regardless of whether they originate as electronic or "hard copy" paper
bills.
Portfolio Management Intuit's investment data import capability offers
an "any time, anywhere" Web-based portfolio that allows investors to
directly import account information from multiple brokerages into their
consolidated portfolio summary. By providing investment import
capabilities and online access to their portfolios, participating
financial services firms are deploying the technology that permits
consumers to easily manage their portfolios from any computer connected
to the Internet. Consumers also have the option of manually entering
information on their holdings or creating a "watchlist," allowing them
to easily manage their portfolio and quickly respond to market events.
Credit Card and Bank Statement Import Intuit is also working with
leading credit card providers such as Discover Card to support the
import of credit card account balances and transactional information.
Consumers will be able to view credit card account balances, statement
and transactional details, store transaction history and add memos.
Soon consumers will also be able to view their bank account balances
and transaction information from additional financial institutions from
this same personal finance page.
Teaming with Leading E-Services and E-Commerce Companies to Reach
Consumers
Intuit has teamed with the following companies to deliver Web finance
services that offer value and ease-of-use to consumers:
CheckFree Founded in 1981, CheckFree (www.checkfree.com), the operating
subsidiary of CheckFree Holdings Corporation, is the leading provider
of financial electronic commerce services, software and related
products. CheckFree designs, develops and markets services that enable
nearly three million consumers to receive and pay bills over the
Internet or electronically through a variety of bill aggregation
points, including banks, brokerage firms, portals and interactive
content sites on the Internet, and personal financial management (PFM)
software. CheckFree's range of services and products are focused on
enabling customers to make electronic payments and collections,
automate paper-based recurring financial transactions and conduct
secure Internet transactions.
Concentric Concentric provides complete, easy-to-use Internet business
solutions for small and medium-sized companies, including high-speed
DSL, Web hosting and e-commerce. For larger enterprises, the company
offers VPN, dedicated Web hosting and data center services.
Concentric's extensive suite of e-business solutions are designed to
scale with customers as their needs grow.
Corillian Corillian Corporation offers the answer to the question of
how to best enter the Internet financial services marketplace. Their
end-to-end Internet solutions are built upon the industry's only
production tested, Open Financial Exchange (OFX) certified server. This
turn-key platform and its industry-specific applications are coupled
with our industry know-how to provide financial service firms with the
finest solution for deploying successful Internet banking, bill
payment, bill presentment and brokerage services.
CyberBills CyberBills has rapidly developed and deployed methods and
technology to support a single interface that allows consumers to view,
pay, manage and automate all of their bills over the Internet.
CyberBills offers its Total Bill Management(TM) service directly to
consumers at StatusFactory.com, as well as through its channel
partners.
Derivion Derivion develops and markets inetBiller(SM), a comprehensive
application service provider (ASP) solution for electronic bill
presentment and payment. Derivion's inetBiller services include
presentment, payment, enrollment marketing, customer care, and ongoing
account management for such recurring billers as telecom, utility,
cable, and financial organizations that operate in increasingly
competitive markets.
Discover(R) Card Discover(R) Card provides a selection of free,
easy-to-use online services at www.discovercard.com to simplify
everyday financial management for its cardmembers. Discover Financial
Services, a business unit of Morgan Stanley Dean Witter & Co., operates
the Discover(R) Card brands with more than 47 million Cardmembers and
the Discover/Novus(R) Network. The Network is the largest independent
credit card network in the United States with more than 3.5 million
merchant and cash access locations.
OTS/YourAccounts.Com YourAccounts.Com(SM) helps companies in the
telecommunications, energy, mutual fund, brokerage, and other
industries use Internet bills and statements as the most effective
means to connect with their customers. Backed by the largest names in
the bill and statement processing industry, YourAccounts.Com's
e.bill.anywhere(SM) EBPP and Informa(SM) e-statement solutions are used
by America's leading companies to provide superior customer care and
enhance their customer relationships. YourAccounts.Com is a division of
Output Technology Solutions.
Pitney Bowes Digital Document Delivery (D3) is an innovative technology
that enables billers to offer customers the choice of viewing
statements and or paying bills at the biller's Web site, at Intuit's
popular Quicken.com Web site, or on-line via the Quicken personal
financial management software. D3 tracks and reports on bills
previously distributed on paper through electronic channels. It
provides customers with valuable 1-1 marketing capabilities that will
enhance communications to their customers. Pitney Bowes D3 product can
be outsourced, managed by the biller or a combination of both.
Princeton eCom Since 1984, Princeton eCom has been the innovator and
technical leader in electronic bill payment and presentment enabling
billers to be "live" in sixty days with their own Web site, featuring
interactive voice response and electronic lockbox.
TD Waterhouse Group, Inc. TD Waterhouse Group, Inc., a leading online
financial services firm and the world's second-largest discount broker,
provides investors with a broad range of brokerage, mutual fund,
banking and other consumer financial products on an integrated basis.
TD Waterhouse services customer accounts in the U.S., Canada,
Australia, Hong Kong, and the United Kingdom.
Teaming with Leading Financial Institutions to Reach Consumers Intuit
is the leading provider of financial connectivity and solutions linking
consumers and financial services companies. More than 900 banking,
brokerage, mortgage, insurance and other financial services companies
rely on Intuit's best-selling desktop financial software and popular
Web services to better serve existing customers and acquire new
customers.
Commitment to Open Standards Intuit's EBPP program was developed using
the Open Financial Exchange (OFX) specification in order to maximize
flexibility and connectivity between all of the various participants.
Intuit believes an open technology platform built around the OFX
specification is key to broad-based industry and customer adoption.
Intuit will offer electronic bill presentment and bill payment,
investment data import, credit card and bank statement import services
through Quicken.com and other portals and financial institution sites
pursuant to a license agreement between Intuit Inc. and a joint venture
company in which Intuit is a participant.
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 QuickenStore (www.quickenstore.com) is the online source for
consumers to purchase Intuit products via the Web.
Intuit's Quicken.com Web site (www.quicken.com) is the premier
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.
NOTE: Intuit, Quicken, QuickBooks, TurboTax and MacInTax are registered
trademarks of Intuit Inc. Quicken.com is a trademark of Intuit Inc.
SOURCE Intuit Inc.
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
-0-
CONTACT: Jeff Larsen of Intuit Inc., 650-944-5106, or
jeff_larsen@intuit.com; or Mary Giani of Ketchum Thomas,
650-596-2700, or
mary@thomaspr.com, for Intuit Inc.
WEB PAGE: youraccounts.com
quicken.com
GEOGRAPHY: California
INDUSTRY CODE: CPR
MLM
SUBJECT CODE: PDT
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