Intuitive Online Banking?
Intuit (makers of QuickBooks and Turbo Tax) recently announced their plan to purchase Digital Insight, a company specializing in online banking software used by banks and other financial institutions.
Candy & I talked it over a bit, trying to guess at the impact this might have on her clients since she works in QuickBooks so much. Our conclusion?
Almost no immediate impact, other than the fact that Intuit will be heavily in debt in 2007 after taking a nearly billion dollar loan to seal the deal. This looks like a move by Intuit to add to their market share, since they have businesses (Quickbooks) and consumers (Turbo Tax), with the acquisition of Digital Insight they'll be adding financial groups and banks.
The short term effect is pretty much, well, there isn't one. The long term effect, with luck, will be improved interfacing between QuickBooks and Intuit's personal financial software with your bank, since online banking services don't always mesh smoothly with QuickBooks et al. Hopefully this will change in the next couple of years and make things easier on everyone.
For more skinny on the deal straight from the source, check out the Digital Insight (five page!) press release on the subject.
Candy & I talked it over a bit, trying to guess at the impact this might have on her clients since she works in QuickBooks so much. Our conclusion?
Almost no immediate impact, other than the fact that Intuit will be heavily in debt in 2007 after taking a nearly billion dollar loan to seal the deal. This looks like a move by Intuit to add to their market share, since they have businesses (Quickbooks) and consumers (Turbo Tax), with the acquisition of Digital Insight they'll be adding financial groups and banks.
The short term effect is pretty much, well, there isn't one. The long term effect, with luck, will be improved interfacing between QuickBooks and Intuit's personal financial software with your bank, since online banking services don't always mesh smoothly with QuickBooks et al. Hopefully this will change in the next couple of years and make things easier on everyone.
For more skinny on the deal straight from the source, check out the Digital Insight (five page!) press release on the subject.
posted by Dy at 9:59 AM
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