We announced today that Intuit has acquired mobile Web banking technology assets from Mobile Money Ventures, or MMV, a company that makes next-generation mobile financial solutions. This deal is not material to Intuit’s financial results, but the assets Intuit is purchasing are of great value to our IFS mobile offering.
MMV has been an important Intuit business partner. Together, we have delivered a mobile web banking product offering that’s currently used by customers at more than 320 financial institutions. By bringing MMV’s technology in-house, IFS will now have three mobile banking pillars, native apps, text and web banking, together under one roof. This gives us more control to better serve customers and will help us bring new mobile innovations to market faster so people and businesses can get the financial insights and services they need at any time and on any device. Ensuring banks can support today’s mobile lifestyle is just another way Intuit is solving important problems for consumers and businesses.