Press Releases

Quicken® Software Connectivity To Financial Institutions Passes 2,000 Mark, More Than Any Other Personal Finance Software Product
Intuit Furthers Its Commitment to Financial Institutions by Providing Reliable, Trouble-Free Connectivity
MOUNTAIN VIEW, Calif. - September 25, 2002 - Intuit Inc. (NASDAQ: INTU), a leading provider of business and financial management solutions for consumers, businesses and accounting professionals, has announced that the connectivity of Quicken Software for Windows to financial institutions via Open Financial Exchange (OFX) has surpassed the 2,000 mark. This connectivity, more than any other personal finance software product on the market, allows over 15 million Quicken for Windows customers to download their financial transactions via secure connections directly from banks, credit card companies, and brokerages. Financial institutions that connect to Intuit's latest versions of Quicken for Macintosh and QuickBooks also do so via Open Financial Exchange (OFX).

"Our relationships with financial institutions are incredibly important to us, and this accomplishment reinforces Intuit's dedication to our financial institution partners by providing them with the connectivity necessary to better communicate with customers and attend to their pressing financial needs," said Enrico Roderick, Vice President & General Manager, Online Services and Personal Finance. "It also underscores the broad acceptance and commitment of Intuit and the financial community to the use of OFX technology."

Benefits to Financial Institutions
OFX is the industry standard for online banking for consumers and small-businesses offering greater integrity of data through synchronization. By creating a unified specification, or protocol for the exchange of electronic financial data over the Internet, OFX streamlines the delivery of transactions and other financial information from financial institutions to their customers. Through OFX technology, financial institutions are able to support a wide range of customer's financial activities over the Internet including bill payment and presentment, bank account transaction download, investment download and tracking (stocks, mutual funds, and 401(k) plans), and download of 1098, 1099, and W-2 tax forms to popular tax preparation programs, such as Intuit's TurboTax® software and TurboTax for the Websm.

"Because OFX can offer greater integrity of data and enhanced features and functionality through a secure industry standard, Intuit is focusing future development and support of online banking, investment transaction download, and bill payment and presentment services on OFX," said Roderick.

A recommended OFX Solution provider working with Intuit to provide financial institutions with a secure, robust online banking solution for Quicken and QuickBooks® customers is Enterprise Engineering, Inc. "The OFX platform is a valuable part of EEI's program," said George Anderson, CEO, Enterprise Engineering, Inc., a leading provider of open, high performance, Internet infrastructure products and services for the financial industry. "Using OFX to connect to Quicken and QuickBooks through our EnterpriseFTXTM server has been a great solution for financial institutions looking to get the most out of their online banking and brokerage customer bases."

Benefits for Consumers
Through OFX technology, consumers can view account information from multiple financial institutions in a single place in Quicken and QuickBooks, enabling them to better track their complete financial picture and make more confident financial decisions. This data download process is more reliable than the screen-scraping data collection method utilized by most Web products offering this type of service.

"With the addition of each participant financial institution, Intuit furthers its commitment to helping customers reduce the number-one complaint associated with managing their finances electronically - manual data entry," said Roderick. "With so many financial institutions as OFX partners, we're able to provide consumers with better connectivity to their critical account information and easier access to all of their financial accounts."
 
About Intuit
Intuit Inc. (NASDAQ: INTU) is a leading provider of business and financial management solutions for small businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing.

Founded in 1983, Intuit has annual revenue of more than $1 billion. The company has over 6,000 employees with major offices in 11 states across the U.S. and offices in Canada, Japan and the United Kingdom. More information can be found at www.intuit.com.
 
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