Quicken Online Delivers New Personal Finance Service for People who Live, Work and Play on the Web
MOUNTAIN VIEW, Calif. – Jan. 8, 2008 – Intuit Inc. (Nasdaq: INTU) today announced the availability of Quicken® Online – a new Web-based service that makes it easy for people to instantly see how much money they have coming in, how much they are spending, and what's left at the end of the month.
Quicken Online gives people access to information across all of their accounts, including checking, savings, and credit cards – regardless of their financial institution. This provides a unique and powerful view of their "real" financial picture, helping them make better decisions with their money. With Quicken Online, bank account information can be accessed wherever there is an internet connection from a PC or Web-enabled mobile device.
"With Quicken Online, Intuit continues to do what it has done for years: change the lives of millions of people by providing powerful tools to manage their dollars and cents," said Rick Jensen, senior vice president at Intuit. "We took a fresh approach to designing Quicken Online, combining the newest Web technologies with 25 years of experience to deliver a service that gives people the insight, functionality and tools they need with the security and quality they demand."
Quicken Online comes at a time when Americans are failing Personal Finance 101. A recent study by CareerBuilder.com found that 41 percent of adults in America live paycheck to paycheck. Compounding matters, debt is reaching a younger segment of the nation's population. According to the Richmond Credit Abuse Resistance Education Program, the number of 18- to 24-year-olds declaring bankruptcy has increased 96 percent in ten years. Not only that, the Project on Student Debt found that today's college students are graduating with an average of $20,000 in debt.
A New Approach for a New Generation
Designed to address the basic personal finance tasks in the easiest, most time efficient and secure way possible, Quicken Online is available for a monthly subscription fee of $2.99. The goal is to provide customers with quick answers to important financial questions, such as:
How much money do I have? - Quicken Online connects to more banks and financial institutions than any other solution in the marketplace. This means users now have the chance to view their checking, savings and credit card accounts from any of the 5000+ financial institutions Intuit works with – all in one place. Gone are the days of logging in and out of numerous sites just to find out how much money has been spent, or how much is left for the rest of the month. Additionally, Quicken Online shows the RealBalance™ – a view of the current account balance plus any reoccurring deposits and manual entries to help keep people from spending beyond their means.
Where is my money going? – Quicken Online takes the work out of organizing and categorizing spending reports. Customers just login to see where their money is going. Building on the power of the Web, Quicken Online suggests the right category for transactions based on the most frequent categories selected by other users.
Quicken Online balances user-based knowledge with specific customer preferences, allowing customers to define how they want to see their information. For example, Quicken will remember if you've chosen to categorize the local Coffee Shop as "Java" instead of "Groceries."
When are my bills due? – – Doing the work for customers, Quicken Online automatically displays a list of upcoming bills on the user's homepage based on previous payment history. Going a step further, customers can be sent bill reminders via e-mail or text message to help avoid late fees and higher interest rates from credit card companies.
Added Benefits from a Trusted Brand
As part of the Intuit family, Quicken Online offers benefits no other online financial management solution can match, including:
Security – Protecting critical data is the top priority. Quicken Online is the only offering of its kind that uses multi-factor authentication – an additional step in the sign-in process – for added security. Intuit is subject to the same stringent auditing and technology requirements used by the world's major financial institutions including banks, stock exchanges and brokerage houses.
Support – Live, in-product support is available from the Quicken support team as well as other users. The Quicken Community, an online group of users, also shares personal finance tips and expert advice via podcasts, blogs, and live chats and events at www.quicken.com.
iPhone Optimization – Managing money on-the-go is even easier. Quicken Online is available on the iPhone®, making it easy to get your bank account balance and enter transactions while on-the-go.
Data Storage – Quicken Online lets users store up to five years of transactions for easy reference.
Expanding Industry Leadership
To further extend Intuit's effort to help younger consumers get off to the right start with money, Intuit has been selected as the exclusive online personal finance solution for Higher One, one of the fastest growing financial services companies in the country. The agreement will provide the hundreds of thousands of students, faculty and staff at distinguished public and private higher education institutions across the country that use Higher One with Quicken Online as the preferred solution for managing their banking services and debit cards. More information can be found at www.higherone.com.
Product Availability and Pricing
Quicken Online is available direct from Intuit at www.quickenonline.com for a monthly subscription fee of $2.99.
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.
Intuit, the Intuit logo and Quicken, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.
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