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May 15, 2009

Digital Insight and Metavante team up

To help financial institutions to deliver online banking and payment services

By CBR Staff Writer

Digital Insight, the financial institutions division of Intuit, and Metavante, a provider of banking and payments technology, have teamed to help financial institutions deliver a centralized online banking and payment capabilities.

Under terms of three newly signed agreements, the companies will extend and expand existing cross-sales relationships and provide clients a variety of new online capabilities designed to help consumers and businesses manage their finances in a strained economy.

The first agreement is expected to enable Metavante’s online banking clients to solidify primary banking relationships by offering the financial management capabilities of Digital Insight’s FinanceWorks as an optional component within Metavante’s e-banking services.

Powered by Quicken, FinanceWorks helps banks address peoples’ financial management needs and gives users visibility and control over their spending by accessing account information from more than 5,000 financial institutions and credit card sites, according to the company.

The second agreement renews a long-term marketing arrangement between the companies to promote increased adoption and usage of Metavante’s online bill presentment and payment products among Digital Insight’s clients. As part of this agreement, the companies recently completed a effort to improve the bill presentment and payment user experience delivered through the financial institutions they both serve.

Metavante said that the newly enhanced system features a single-view landing page that includes a variety of billing, payee and quick-pay information for consumers to review and then act on. By simplifying core bill pay functionality, and reducing page clicks per task, Metavante has transformed the bill pay landing page into a central payment hub for users.

Additional improvements also lead first-time bill payers through the process step by step, making them to use the product in the future. As a result, active use of online bill presentment and payment has increased, creating stronger ties between financial institutions and their customers.

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The third agreement extends a June 2005 arrangement that makes Digital Insight’s consumer internet banking and business banking solutions the exclusive third-party products resold to financial institution that use Bankway software Metavante’s licensed core processing solution.

Sasan Goodarzi, senior vice president of Intuit and president of Digital Insight, said: Our agreements with Metavante are the latest examples of a highly successful, long-standing relationship that has been delivering great results since 1999. This opens a rich distribution channel for Digital Insight and Metavante and further helps financial institutions provide the online capabilities their customers want and need in today’s economy.

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