Intuit and Web 18's www.moneycontrol.com to Provide Personal Finance Management Solutions in India.
Partnership Focuses on Revolutionizing the Financial Lives of Consumers With Online Solutions
Bangalore, India | 15 Dec 2009
Intuit Inc. and Web 18 have signed a three-year partnership to provide a new financial management tool to Indian consumers on India's leading financial portal moneycontrol.com. 'Intuit® Money Manager' will be Intuit's first consumer offering in India. The beta version will initially be available for customers of moneycontrol.com who have opted in for this early trial program. It will be extended to all the customers of moneycontrol.com in the near future.
Intuit is a leading global developer of business and personal finance management solutions, and moneycontrol.com is the leading financial portal from the Web 18, the online and mobile arm of Network18. The partnership results from Intuit's Active Partner Strategy of working with premiere and trusted partners in India to provide easy-to-use solutions for the country's consumers.
'Intuit® Money Manager' is an innovative personal finance tool that offers consumers a smarter way to plan, track and grow their money for the future.
Commenting on the partnership, Umang Bedi, Managing Director, Intuit India - Global Business Division, said, “moneycontrol.com has earned the reputation of being a key destination for Indian users and the synergy we bring together through our partnership will be the first of its kind in the industry.”
Talking about the new product, Mr. Bedi said, “Intuit® Money Manager' has been made in India, for India and enable our customers to save money and achieve their financial goals. The solution has been developed based on information gleaned from numerous studies on the financial lifestyles of Indians. Some of their key pain-points were logging into multiple websites to track their finances and monitoring their expenses, goals, and savings. This is our first offering for India and through this we're aiming to change the way personal finance is managed in India. We are currently undergoing various trials and are confident that it will soon be the first choice of every Indian consumer.”
Joyson Thomas, Chief Operating Officer, Web18 said, “We are delighted with this strategic partnership and are excited about the opportunities that will arise through this relationship. We have been the premier end-to-end business and finance portal for Indian consumers and investors, and Intuit is a leading brand in the personal finance management space. This partnership will give our customers a 360 degree view of their finances. We are proud to be associated with a leader that has changed the way personal finance is managed, and we see a lot of value creation for our users through this partnership.”
Intuit intends to announce other major partners in the months ahead. Following a series of trials with selected customers, Intuit expects to release 'Intuit® Money Manager' in the fall of 2009.
About Web 18 and moneycontrol.com
Web 18 is the Internet and Mobile arm of Network 18, India's leading Media conglomerate. It is India's fastest growing internet company with leading portals such as moneycontrol.com, Cricketnext.com,IBNLive.com, Buzz18.com and Josh18.com. The recently launched In.com, has rapidly grown to become India's second largest horizontal portal.
Web 18's moneycontrol,com is Asia's largest and the world's second largest financial and business portal. moneycontrol, with more than 150 million page views per month, boasts five million users and one million registered users seeking information and guidance for all their financial needs and queries. This end-to end financial vertical offers real time coverage of all the market movements, key expert insights and the intrinsic dynamics between the various market participants.
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 $3.2 billion in its fiscal year 2009. The company has approximately 8,200 employees with major offices in the United States, Canada, the United Kingdom and other locations. Intuit is listed on the NASDAQ stock market under the symbol INTU. More information is available at www.intuit.co.in.
Intuit was named the “World's Most Admired Company” by Fortune Magazine in 2009, in addition to being named “America's Most Admired Software Company,” from 2005 - 2008. In January, Intuit was named to Fortune's “100 Best Companies to Work For” list for the eighth consecutive year.
About Intuit Global Business Division
The Intuit Global Business Division is an innovative, high-performance, growth business that aims to promote products and services that revolutionize millions of lives in India. Building upon Intuit's legacy of customer-driven innovation, Intuit GBD promotes local solutions that will serve large, unmet or underserved needs among individuals and small business owners. Intuit GBD has employees located in Bangalore.
Intuit GBD is a division of Intuit. More information is available at www.intuit.co.in
For more information, please contact
Vidyuth Srinivasan +91 96633 14113
Intuit India | Global Business Division
Priyanka Kalia +91 99806 00561