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Intuit simplifies mobile banking with iPad app

The Intuit Tablet Banking app uses the iPad’s built-in features to help consumers and credit union members view account balances and account transaction history. The app is available for free download in Apple’s App Store.

“An October 2011 Intuit study found that people increasingly prefer to go online with their financial institutions rather than make in-person visits,” said Tobin Lee, a spokesman for Intuit, Los Angeles.

“Thirty-eight percent of respondents already use the online services provided by their bank or credit union to manage personal finances, and 33 percent said they would switch financial institutions for one that offers solutions that give them a better customer experience,” he said. “Nearly one in four also uses mobile banking, and another 17 percent plan to try it in 2012.

“Think about the multitude of devices – mobile, laptop, tablet – people use in a given day to conduct their lives, and this data is telling. Being able to bank or accept and move money safely and easily while on the go is clearly convenient to the mobile banking customer.”

Intuit is a provider of business and financial management services for small and midsized businesses, financial institutions including banks and credit unions, consumers and accounting professionals.

Bank on mobile
The Intuit iPad app lets consumers transfer funds between eligible accounts, pay bills on the spot and locate nearby ATMs and branches.

Additionally, users can see their account balances at a glance and tap any account to view recent transactions.

“As people increasingly demand mobile solutions through their financial institution, we certainly have the ability help our financial- institution customers deliver a broad set of online and mobile capabilities,” Mr. Lee said. “Intuit Tablet Banking for the iPad is the latest addition to the mobile suite of solutions we provide.

“These technologies can add depth and value to the relationship a person has with his or her financial institution,” he said.

Mobile efforts
Intuit has been ramping up its mobile banking strategy.

Last year, the company made its GoPayment application available to iPad users. The tool is meant to serve as an additional way for small- to midsize entrepreneurs to drive business (see story).

Most recently, Intuit acquired the mobile Web banking assets of Mobile Money Ventures as it looks expand its mobile services for financial institutions (see story).

“Mobile adoption worldwide is exploding, and tablet growth may even outpace that,” Mr. Lee said. “It is quite possible mobile devices will one day be the primary way people interact with their financial institutions and other service providers.

“Intuit is innovating in mobile using a common infrastructure so we can move fast, borrow on insights we gain across our product set and put them to work for consumers, businesses and those who serve them,” he said.

“The new tablet banking app adds to the strong set of mobile banking tools Intuit offers to banks and credit unions.”