Financial Institutions Flock to Digital Insight's Consumer Internet Banking Solution
On-demand Banking Platform Serves More Than 8 Million Consumers
CALABASAS, Calif. – Nov. 13, 2007 – More than 60 leading financial institutions have selected Digital Insight's® consumer Internet Banking solution since the online banking company was acquired by Intuit Inc. (Nasdaq: INTU) in February 2007. In addition, more than 8 million people, or approximately 10 percent of all online banking users in the United States, actively use Digital Insight's consumer solution through its nearly 1,800 financial institution clients.
The company attributes the growth in its consumer solutions line to industrywide confidence that it can help improve the relationship between financial institutions and their customers using Intuit's proven customer-driven innovation processes.
Since 1995, Digital Insight's on-demand platform has enabled financial institutions to outsource their online banking operations and concentrate on serving customers instead of worrying about managing in-house solutions. The company has also helped financial institutions bring innovative capabilities to market more easily and cost-effectively than if the institutions worked alone.
This is achieved by seamlessly integrating hundreds of market-leading technologies with its online banking solutions, and then connecting with a wide variety of leading core processors to secure data.
Digital Insight's more than 60 new consumer Internet Banking clients include: The Brand Banking Company, Carver Federal Savings Bank, Metropolitan National Bank, Redstone Federal Credit Union, River City Bank, TruMark Financial Credit Union and TowneBank.
"We continue to develop strong relationships with clients because we provide innovative capabilities from a proven on-demand platform that helps financial institutions attract, retain and delight customers," said Sasan Goodarzi, president of Digital Insight. "The combined magic of Digital Insight and Intuit will be used to deliver next generation solutions that fundamentally change the face of online banking."
Changing the Face of Online Banking
By listening to and watching its customers at work, Digital Insight obtains a wealth of knowledge and understanding that it incorporates into solution development. This unique "customer-driven innovation" approach, long embraced by Intuit, helps ensure solutions are designed to be powerful, simple to use and to delight users.
Capitalizing on this customer knowledge, Digital Insight is developing a new generation of online banking solutions that will help financial institutions become a consumer's primary hub for online financial management. Through more than 40 studies into the financial management behavior of consumers and small businesses, Digital Insight has identified new ways for financial institutions to serve the untapped market segment of "small and simple" businesses. This includes the 22 million personal or micro-businesses in the United States that have simple online financial management needs and are hidden within the online retail channel of most financial institutions.
Goodarzi says there's more to come, and financial institutions are enthusiastic.
"As a credit union we concentrate on providing superior personalized service to our members— service that is based on strong relationships," said Stephen B. White, vice president of technology at the Redstone Federal Credit Union. "Digital Insight was the clear choice for us because it is a proven online banking provider that could help us bring innovative capabilities to our membership and identify new ways to deliver value through the online banking channel without taxing our internal staff."
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax® software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation software suites for professional accountants. The company's financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions serve businesses and consumers with innovative solutions.
Founded in 1983, Intuit had annual revenue of $2.67 billion in its fiscal year 2007. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom and other locations. More information can be found at www.intuit.com.
About Digital Insight
Digital Insight is the leading outsourced provider of online banking services to mid-market banks and credit unions in the United States. The company's extensive portfolio of on-demand applications includes consumer and business Internet banking, online lending, electronic bill payment and presentment, Web site development and hosting, marketing programs designed to help increase online banking end user growth, and more.
On Feb. 6, 2007, Digital Insight was acquired by Intuit Inc. and is now known as Digital Insight® an Intuit® company. Together the companies serve more than 5,000 financial institutions, nearly 25 million consumers and nearly 7 million small businesses.
Intuit, the Intuit logo, and Digital Insight among others, are registered trademarks and/or registered service marks of Intuit Inc. 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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