Intuit Financial Services

John O’Malley Takes Helm as New Digital Insight CEO

By David Penn Posted on
Categories: Digital Insight, Intuit, Intuit Financial Services

Digital Insight announced this week that John O’Malley will serve as the fintech company’s new Chief Executive Officer. The new appointment is effective on November 1st.

O’Malley brings more than 30 years of experience in both financial services and financial technology. He was most recently CEO of Panini, a payment technology company. Previously, O’Malley served as chief executive officer for Memento and Harland Financial Solutions, where he was also President.

Formerly known as Intuit Financial Services, Digital Insight was acquired by Thoma Bravo this summer. Read our coverage of the billion-dollar deal here.

Digital Insight was one of our original alumni, presenting at the first Finovate in 2007. Video of the company’s presentation is available here.

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Finovate Alumni News– August 2, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: BillGuard, Bills.com, Digital Insight, Intuit, Intuit Financial Services, Kofax, LendUp, Lighter Capital, On Deck Capital, TSYS
  • Finovate-F-Logo.jpgNetbanker looks at LendUp and BillGuard as 2 innovators creating services to protect the elderly from spam.
  • Kofax acquires data integration software provider Kapow Technologies.
  • Startup Owl features Lighter Capital and On Deck. Check out Lighter Capital at FinovateFall in NYC.
  • Bill.com’s two-factor authentication brings security to SMBs.
  • Thoma Bravo completes billion-dollar acquisition of Intuit Financial Services, re-launched as Digital Insight.
  • Net Element International integrates its Aptito POS payments platform with TSYS.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Intuit Sells Financial Services Arm for $1 Billion

By Julie Muhn (@julieschicktanz) Posted on
Categories: Intuit, Intuit Financial Services

IntuitLogo.jpg

Intuit, creator of TurboTax and Quickbooks, announced today that it will sell Intuit Financial Services (IFS) to Thoma Bravo, a private equity investing firm.

Thoma Bravo will purchase IFS for $1 billion in cash. The deal includes Intuit’s banking, digital payments and mobile banking platforms. It excludes some assets, including OFX connectivity and Mint.com, which now boasts 5 million users.

Intuit purchased IFS in 2007 (it was then known as Digital Insight) for $1.35 billion. Some analysts have pointed to slow revenue growth as a reason for the sale. According to Reuters:

“IFS, which provides banking software to financial institutions, reported a revenue growth of 9 percent for the quarter ended April. In contrast, revenue at Intuit’s small business unit rose 17 percent and that at its consumer tax division increased 14 percent.”

Intuit demoed at Finovate 2009. Mint.com debuted at the very first Finovate in 2007 before it was aquired by Intuit. It last demoed at FinovateSpring 2013 in San Francisco.

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Finovate Alumni News– April 30, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: BillFloat, Billhighway, Cortera, Finect, Intuit, Intuit Financial Services, Kashoo, Leaf, Lendio, MiiCard, MoneyDesktop, ReadyForZero, Temenos, Zopa
  • Finovate-F-Logo.jpgCortera now offering free Cortera Business Directory accounts.
  • Lendio announces record year-over-year revenue growth of 97% for the first quarter of 2013.
  • Zopa launches Safeguard offer that protects lenders from faulty borrowers through a fund held by a non-profit.
  • PayMyStudentLoans.com reviews ReadyForZero can help students save money in college.
  • PA Consulting Group will deliver identity verification solutions using miiCard.
  • MoneyDesktop launches new version of PFM & updates MoneyMobile app.
  • South Bangla Agriculture & Commerce Bank is the fifth Bangladeshi bank to deploy Temenos T24 banking software.
  • Leaf announces Leaf Membership Network. Join Leaf in San Francisco for FinovateSpring in May.
  • Financial Advisor introduces Finect. Come see Finect demo their technology at FinovateSpring.
  • appPicker reviews Kashoo Accounting for iPad.
  • Small Business Association of Michigan selects Billhighway Give as its mobile fundraising solution.
  • Intuit releases Android tablet banking app. Come to FinovateSpring to watch Intuit unveil its new technology.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alumni News– December 14, 2011

By Julie Muhn (@julieschicktanz) Posted on
Categories: Credit Karma, Intuit Financial Services, Kony Solutions, Lending Club, PayNearMe, Prosper, Weemba

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  • The Wall Street Journal lists Prosper, Lending Club, and Weemba as resources for home financing.
  • PayNearMe partners with iSend to simplify international gift giving this holiday season.
  • Doxo wins Red Herring Global 100.
  • Credit Karma and Intuit team up to provide credit services within FI-branded environments.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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