Growing Client Roster Demonstrates Digital Insight's Strength in Commercial Banking
Dozens of Financial Institutions Choose On-demand Platform
CALABASAS, Calif. – Feb. 27, 2008 – More than 70 leading financial institutions have selected Digital Insight's® Commercial Banking solutions, since the online banking company was acquired by Intuit Inc. (Nasdaq: INTU) in February 2007. The company attributes strength in its commercial solutions line to growing interest among financial institutions in outsourcing to Digital Insight's on-demand platform. The company also cites industrywide confidence that Digital Insight can help improve the relationship between financial institutions and their customers using Intuit's proven customer-driven innovation processes.
Over the past year, Digital Insight commercial banking client roster has expanded to include: BancFirst, Busey Bank, Carver Federal Savings Bank, Metropolitan National Bank, River City Bank, The Brand Banking Co., TowneBank and Queensborough National B&T Co.
"As we expand our commercial banking capabilities, we're seeing increased interest in our on-demand solutions among financial institutions that want to expand their market reach and relevance," said Sasan Goodarzi, president of Digital Insight. "By outsourcing their online banking operations to a trusted partner like us, our clients can focus on serving customers and deepening their relationships, making them an indispensable financial partner for their commercial customers."
Leader Responds to Market Demand
For more than a decade, Digital Insight's on-demand platform has helped financial institutions compete and win by enabling them to bring innovative capabilities to market more easily and cost-effectively than if the institutions worked alone. In 2007, Digital Insight responded to market demand by reinforcing its commitment to on-demand deployments by exclusively providing hosted commercial banking solutions from its world class data centers. At that time, the company stopped offering financial institutions licensed versions of its commercial solutions, and the benefits of this strategy are resonating with financial institutions.
"We wanted to provide our business customers with an unparalleled online banking experience that delivers a robust, yet easy-to-use set of products and services from within a secure, hosted environment," said Blane Allen, senior vice president of financial services, BancFirst. "With Digital Insight's help, BancFirst can deliver a quality end user experience and become the center of our customers' cash management activity, while enabling us to grow our business in an efficient manner. They truly understand us and our customers."
A Magical Combination to Delight
Intuit's "customer-driven innovation" philosophy, which was used to develop products like Quicken, QuickBooks and TurboTax, has been adopted by Digital Insight. By listening to and watching customers at work, Digital Insight obtains a wealth of knowledge and unique understanding that is incorporated into the solutions it develops. This unique approach produces a wealth of knowledge and customer understanding that creates powerful, simple to use solutions that delight users.
"CDI will enable us to better meet the needs of our commercial customers, their end users and the marketplace," said Paul Campbell, vice president of commercial solutions, Digital Insight. "Marrying Digital Insight's experience and assets with Intuit's unique product development approach is going to create a magical combination for both financial institutions and their customers."
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.
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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