INTUIT ANNOUNCES NEW QUICKEN FOR 96 WITH EXTENSIVE ONLINE FINANCIAL SERVICES; The First Comprehensive Set of Online Financial Services; Tailors Itself to Each User.
Intuit is delivering a software and online services combination that will change the traditional view of Quicken as a financial tracking tool. Both Quicken and the online financial services integrate with Intuit's unique family of financial software, making it by far the most comprehensive PC technology available to help consumers plan and execute a range of financial decisions.
"Together, these services and features will turn the common PC into a powerful and personalized financial tool for individuals and small businesses," said Scott Cook, Intuit founder and Chairman. "PC users have been waiting for online financial services that are both comprehensive and super low-cost. That day arrives Oct. 26 when the Quicken for 96 goes on sale. Our goal, and that of our partners is to simplify and enrich people's financial lives."
Extensive Set of Online Financial Services
Quicken for 96 introduces a new, comprehensive set of online services: Investor Insight, online banking and online bill payment. The Investor Insight online service gives Quicken users the investment tools Wall Street professionals use, including the latest stock news, analyst reports and unbiased research reports, analysis of price movements over 5 years, and an unlimited ability to chart and analyze one of a group of securities. Now, Quicken users can not only can track their investment performance, but they can find out what the experts predict and why.
The online financial services announced today remove one of the biggest barriers to more people using personal finance software: data entry. With just the click of the mouse, Quicken for 96 users will download account activity from bank, brokerage FMA or charge card accounts. Now, users have accurate financial records without keystrokes. They can instantly see customized reports and graphs on where their money is going.
And without re-entering data, TurboTax will help them file their taxes and Quicken Financial Planner will help them to develop a retirement plan.
Another key addition is bill payment backed by the partner financial institutions. When they use bill pay in conjunction with the online banking features, users can receive an electronic confirmation that their payment has cleared.
Quicken delivers several breakthroughs in online financial services:
The widest range of information from the widest range of institutions -- Intuit's online services provides links to stock, and mutual fund data, checking, savings, retirement, American Express and Visa & MasterCard. The service will provide service to brokerage FMA accounts. Consumers will be able to choose from among 19 of America's leading banks, plus American Express and Smith Barney.
The first electronic services that are linked to a family of financial solutions -- Quicken for 96's online financial services work with a wide array of financial software from Intuit which together form a comprehensive solution for financial tasks. To demonstrate how these products have been designed to work together, Intuit today also announced that it would sell the first financial software suite ever available for Windows users. The suite contains Quicken Deluxe, Quicken Family Lawyer, Quicken Financial Planner and a coupon for $20 off TurboTax when it ships this winter.
Lower online banking prices -- While pricing will be determined by each financial institution, some will offer the service for free -- vastly less tha almost all traditional online banking services.
Lower priced bill payment services -- Many of the financial institutions will be package pricing their banking services with bill pay at prices competitive with the postage stamp or lower. For those customers who do not have an account with one of these financial partner institutions, this service will be available directly from Intuit at $5.95 monthly for 20 payments -- about the cost of a stamp. This is a 40 percent cut from the traditional price of $10 per month.
Shorter payment times -- Payees who accept electronic payments are paid overnight, down from the 5 days needed by other bill payment services.
Information on partner products and services -- Quicken's Financial Directory shows graphic presentations from partner financial institutions outlining the benefits of banking with their institution.
Private Communications Link
The connection for the banking and other online financial services is a private network that takes advantage of some of the latest advance in online financial services communication and security. It is the first of its kind to bridge millions of PC users and dozens of financial services providers together in real time. The Quicken network can handle thousands of simultaneous users connecting at once to different financial institutions.
Capacity can be easily and cheaply expanded to make room for additional financial institutions, Quicken users and services.
Information and transaction requests from Quicken are encrypted with large 1024-bit RSA keys and triple-DES for session privacy developed by RSA Data Security of Redwood City, Calif. RSA is the world's brand name for cryptography, with more than 15 million of RSA's patented encryption and authentication technologies installed and in use worldwide, including on many business, financial and electronic commerce networks.
The information travels across a communications link developed by Teknekron Software Systems of Palo Alto, Calif., which has developed similar links for many of the world's leading financial institutions. A market-leading vendor of communications software, Teknekron created a special online services version of its Enterprise Toolkit software to link Quicken users with their financial institutions. Sun Microsystems provides the online transaction processing servers that run the application as well as its SunScreen family of advanced hardware, software and services network security solutions to enable safe and private communication of financial services and information. Sun Microsystems Computer Co., a division of Sun Microsystems Inc. of Mountain View, Calif., is a world leader in the design, manufacture and sale of network computing systems.
Personalized Guidance Based on Your Financial Situation
Quicken for 96 is built on a simple premise: people want financial help that's right for them, based on their own financial profile, not general information. Quicken for 96 tailors itself to users' financial habits; it learns about you as you work. "No other financial software learns about and custom fits itself to you," said Cook. "Quicken for 96 adapts itself automatically, even modifying the user interface and financial content to your individual needs."
Quicken provides personalized guidance based upon the user's own data in Quicken: account balances, income and spending and investments.
The Financial Health Check-up evaluates areas of a user's financial condition and gives appropriate guidance. For example, it determines if a person has enough cash reserves to weather a financial emergency.
Ask the Experts offers multimedia video with financial advice from two of America's leading financial experts. Jane Bryant Quinn, author and Newsweek columnist, and Marshall Loeb, former managing editor of Fortune and Money magazines, answer users' questions on such topics as "What are some ways I can save money on taxes?" or "Am I saving enough for my retirement?" Answers change depending on the users' financial information.
Investor Insight's Daily Personal Newsletter follows the latest prices, news and information on the stocks in a user's portfolio and prints out a custom newsletter -- each day.
Quicken Adapts to User, Making it Easier to Learn
Other improvements to Quicken focus on making the product adapt to the individual user, making it even easier for new users and all users. The QuickTabs interface automatically tailors Quicken screens to each individual's unique work style and needs. As customers start using new features, QuickTabs automatically "learns" a user's habits to create a custom menu -- customers can then get to the features and accounts they use most with a single click.
With new EasyAnswer reports, customers simply select the question they want answered about their finances. The user now only needs to click on a question, like: "How much did I spend on dining out last month?" or "How did my investments perform last quarter?" and Quicken instantly creates reports that offer fast and easy answers.
Quicken users' top request this year was to improve report customization. Quicken answers this request by providing more control over report format and content. Customers can now hide columns and adjust column widths on-the-fly, or organize financial information in a summary format, to create the exact report desired. Quicken then automatically remembers the four most recently created reports, so they can be recreated instantly.
The new EasyStep guides new users each step of the way through setting up bank accounts, loans and investments.
Quicken for 96 Designed For All Leading Operating Systems
Untapping the potential of Quicken for 96 does not require expensive upgrades in hardware or operating system software. It will run efficiently on the typical 386 and 486 PCs running Windows 95 or Windows 3.1, and the typical Macintosh systems.
Quicken for 96 will be available on October 26, 1995 in retail stores and from Intuit. Quicken for 96 will be available in both regular and Deluxe versions. The expected street price of the regular versions is US $39.99, for the Deluxe versions, $59.99 and for the Quicken Financial Suite, $79.99. To order from Intuit, call 1-800-816-8025.
For a limited time, upgraders will also receive a $5 rebate for regular Quicken or a $10 rebate for purchasing Quicken Deluxe. Intuit guarantees that customers will be completely satisfied with Quicken or their purchase will be refunded.
Pricing for the banking and bill payment services will be set by each financial institution. Intuit will make online bill payment available to customers who do not bank at a partner institution at a price of $5.95 per month for up to 20 payments and $2.95 for the next 10 payments. The Investor Insight service is priced at $9.95 per month to track up to 10 stocks, or $19.95 per month to track up to 50 stocks.
Investor Insight is available only in Quicken Deluxe for Windows.
For Macintosh users, online banking will be available by January 1996. Bill pay services will be provided through CheckFree, not Intuit, so pricing and terms will differ from those described above.
For Windows 3.1/Windows 95, Quicken will come in three versions: regular on floppy, Deluxe on floppy, and Deluxe on CD-ROM. For Macintosh, Quicken will come in two versions: regular on floppy and Deluxe on CD-ROM, which is new for 96.
CONTACT: Sheryl Ross (415) 329-3569
Bob McCarson (202) 289-5900
Lisa Hendrickson (212) 213-7135
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|Date:||Sep 14, 1995|
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