BWI: ICICI Bank and Intuit launch “Money Manager”

Press release from Business Wire India
Source: Intuit Inc.
Monday, March 21, 2011 01:30 PM IST (08:00 AM GMT)
Editors: General: Consumer interest, Lifestyle, People; Business: Accounting & management consultancy services, Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology, Retailers; Technology
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ICICI Bank and Intuit launch "Money Manager"
On-line personal finance management solution

Mumbai, Maharashtra, India, Monday, March 21, 2011 -- (Business Wire India) -- ICICI Bank Ltd, India's largest private sector Bank and Intuit, a leading global developer of business and personal finance management solutions, today announced the launch of "Money Manager". It is an on-line personal finance management solution which helps banking customers understand their spending habits and organize their finances by providing them with details of all their ICICI Bank accounts on a single platform.

This web-based solution, available through ICICI Bank's website, delivers the flexibility to focus on specific details such as earnings, savings, spends and loans. "Money Manager" makes it easy for customers to quickly and easily categorize their expenses and set and track a realistic budget to achieve their financial goals.

Mr Rajiv Sabharwal, Executive Director, ICICI Bank Ltd, said, "Our bank has always focused on innovation in technology for customer empowerment. Internet Banking is core to our technology prowess and we constantly innovate to provide path-breaking solutions for our customers on-line." "Money Manager" is a unique personal finance management solution which will give customers convenience of aggregating their accounts and providing output required for managing expenses."

"Money Manager is the latest in a line of Intuit offerings that improve people's financial lives so profoundly that they cannot imagine going back to the old way of doing things," said Mr Alex Lintner, President, Global Business Division, Intuit Inc. "Money Manager is unique to India and was specifically built for the market, while leveraging the insights and learning's from our Quicken and Mint products. As a result Intuit and ICICI Bank can deliver a world-class offering that addresses the unique needs of banking customers."

With "Money Manager", ICICI Bank net banking customers can:

. Aggregate all their ICICI Bank Accounts (Savings Account, Credit Cards, Loans, DEMAT etc.) automatically on one screen
. It will automatically segregate transactions across different income or expense categories
. Set their monthly budget and monitor the performance of investments
. Get customised alerts on their balances, transactions and bill payments

"Money Manager" is currently available for all ICICI Bank Net Banking customers. It is a subscription based product with 90-Day free trial. Customers can visit www.icicibank.com to get more information.

About ICICI Bank:

ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of over $115 billion at December 31, 2010. ICICI Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank's global presence currently spans across 18 countries.

About Intuit Inc.

Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.

Founded in 1983, Intuit had annual revenue of $3.5 billion in its fiscal year 2010. The company has approximately 7,700 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com .

Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.



CONTACT DETAILS
Samantha Unnikrishnan, PR Manager - India, Intuit Inc., Samantha_Unnikrishnan@intuit.com
Charudatta Deshpande, Head, Corporate Communications,, ICICI Bank Ltd, charudatta.deshpande@icicibank.com

KEYWORDS
CONSUMER, LIFESTYLE, PEOPLE, CONSULTANCY SERVICES, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, IT, RETAIL, TECHNOLOGY

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