Intuit today announced it has acquired mobile Web banking technology assets from Mobile Money Ventures, or MMV, a leading global provider of next-generation mobile financial solutions.
The transaction is expected to strengthen Intuit Financial Services’ position as a leading online and mobile technology provider to financial institutions. Intuit will be able to directly manage customer support and will have full control over the design of its mobile Web banking solutions. The acquired assets will also help the company bring new innovations to financial institution customers faster.
Customers of more than 320 U.S. banks and credit unions actively use Intuit’s existing mobile Web technology, which was provided by MMV. Intuit also provides text message and downloadable application solutions to enable financial institution customers to conduct their critical banking tasks from virtually any mobile phone.
Mobile Money Ventures, based in San Mateo was formed in 2008 as a joint venture that combined the strengths of Citigroup, a leading, global financial services company, and SK Telecom Americas, an early-stage technology innovator.
As an Intuit partner, MMV provided a proven mobile Web banking solution currently reaching more than 400,000 consumers. MMV’s offering is optimized for all major handsets and screen sizes, making it right for all customers – regardless of their mobile device.
