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First IB Home > About > News > Press Release

FIRST INTERNET BANK OF INDIANA EXPANDS SUPPORT FOR QUICKEN®
SOFTWARE
INDIANAPOLIS, IN May 19, 2004 - This week, First Internet Bank
of Indiana (First IB) expanded its support for Quicken® online
services by enabling transaction history downloads through Direct
Connect sessions. With Direct Connect, a customer's downloaded transactions
are automatically matched with existing transactions and new ones
are entered into the customer's account register, enabling the customer
to manage his personal finances with ease.
In addition to transaction downloads, Direct Connect allows customers
of First IB to initiate a funds transfer between two First IB accounts
within Quicken and then upload the transfer instructions to First
IB for completion. Direct Connect leverages the Open Financial Exchange
(OFX) specification created by Intuit, Microsoft, and CheckFree.
Bank management reported widespread enthusiasm among its customer
base for Quicken software and services. Within 24 hours of the Direct
Connect announcement, over 150 customers had signed up for the service
through First IB's website. Customer Scott B. of Indianapolis told
Bank representatives, "
First IB's service just gets better
and better. I'm an avid Quicken user, and I really appreciate the
bank's initiatives to integrate its website with the Quicken product.
These little conveniences are much appreciated, and they are a big
reason why I continue to be an equally avid supporter and promoter
of First Internet Bank."
About Open Financial Exchange
Open Financial Exchange is a unified specification for the electronic
exchange of financial data between financial institutions, business
and consumers via the Internet. Created by Intuit, Microsoft and
CheckFree, Open Financial Exchange supports a wide range of financial
activities including consumer and small business banking; consumer
and small business bill payment; bill presentment and investments,
including stocks, bonds and mutual funds. Other financial services,
including financial planning and insurance, will be added in the
future and will be incorporated into the specification.
The Open Financial Exchange specification is publicly available
for implementation by any financial institution or vendor, and is
being used by Intuit, Microsoft and CheckFree as the primary mechanism
for supporting financial data exchange in their products and services.
About Intuit
Intuit Inc., a financial software and Web-based services company,
develops and markets Quicken, the leading personal finance software;
TurboTax, the best- selling tax preparation software; and QuickBooks,
the most popular small business accounting software. Intuit's Quicken.com
(www.quicken.com) offers a complete set of personal finance news,
information, and tools, including the leading mutual fund and insurance
sites. Intuit's products and services enable individuals, small
businesses, and financial professionals to better manage their financial
lives and businesses.
About First IB
With $352 million in assets, First Internet Bank of Indiana is the
first state-chartered, FDIC-insured institution to operate solely
via the Internet and has customers in all 50 states. Services include
interest-bearing checking accounts, regular and money market savings
accounts with industry-leading interest rates, CDs, IRAs, credit
cards, and check cards that can be used instead of cash or checks.
First IB also offers personal lines of credit, installment loans,
unique real-time transfers between accounts, and the ability to
display checking, savings and loan information on a single screen.
First IB is a privately capitalized institution with over 400 private
and corporate investors. |