Tablet Banking From Your Couch? Intuit Has You and Your Android Covered

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New Banking App for Android Tablet Helps Increase Engagement Between Consumers, Financial Institutions

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Sitting at home and checking your bank balance? You’re not alone. Tablet banking, often done from the comfort of the couch, has increased the number of interactions between consumers and financial institutions.

To assist couch-bound bankers, Intuit Financial Services, the banking division of Intuit Inc. (Nasdaq: INTU), has released an Android™ tablet banking app. With tablet sales expected to reach 19 million in 2013, the new app gives Intuit’s financial institution customers another way to reach consumers and provide them with the latest solutions to fit into their increasingly mobile lives. More than 2,800 financial institutions already depend on Intuit Financial Services to provide financial management capabilities that can help increase their customer engagement.

And those mobile transactions are increasing. A recent Intuit study revealed that an average bank consumer interacts with a financial institution 29 times a month via online banking, mobile and tablet device, compared to the 2.4 times a month they visit a bank branch.

The application uses the dynamic touch-screen features of Android tablets to help bank customers and credit union members:

  • Check account balances and view account transaction history.
  • Transfer funds between available accounts using drag-and-drop functionality designed for the Android tablet.
  • See scheduled payments, pay bills on the spot and schedule payments for a later date.
  • Find nearby branches and ATMs.
  • Connect with their financial institution’s mobile website.

Meets Growing Demand for Android

“Android tablet adoption increased by more than 50 percent over last year,” said John Flora, director of product manager for Intuit Financial Services. “So we created a customized banking experience for an increasingly popular device.

“Anyone who has fat-fingered a Web banking application on a touch screen knows how frustrating it can be. Financial institutions need to offer customers a wide breadth of technology choices, whether it’s a native app or a mobile optimized experience, to stay relevant to the customized experiences people expect. Our Android tablet banking app provides financial institutions one more way to engage with a growing segment of customers who expect to bank on a mobile device.”

The Android app is already gaining traction among financial institutions and their customers.

“Sharon Credit Union is maintaining the momentum with the latest tablet banking app for Android tablets,” said Brian Arcand, senior information officer for Sharon Credit Union, with five locations in Massachusetts. “In addition to our iPad app, members with Android tablets, including Amazon’s Kindle Fire, can now manage their accounts with this intuitive user interface.”

The app works on all seven- and ten-inch tablet devices, including Amazon’s Kindle Fire. It is available through Google Play™ Store and the Amazon Appstore under the brand name of the bank and credit union that offers it.

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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®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by offering innovative online and mobile banking solutions that make it easier for consumers and businesses to manage their money.

Founded in 1983, Intuit had annual revenue of $4.15 billion in its fiscal year 2012. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

About Intuit Financial Services

Intuit Financial Services helps banks and credit unions grow by offering innovative online and mobile banking solutions that make it easier for consumers and businesses to manage their money. Applying more than three decades of customer insights and innovation to design its products, Intuit provides solutions that help financial institutions achieve higher customer engagement and profitability. Learn more at www.ifs.intuit.com.

Intuit and the Intuit logo, 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.

Android is a trademark of Google Inc.
Google Play is a trademark of Google Inc.
Kindle, Kindle Fire, Amazon, the Amazon Kindle logo, and the Kindle Fire logo are trademarks of Amazon.com, Inc. or its affiliates.

Intuit Financial Services
Heather Almand, 770-656-7769
heather_almand@intuit.com
or
Access Communications
Tara Frankel, 917-522-3533
tfrankel@accesspr.com

Source: Intuit Inc.

Released April 30, 2013