Centura Partners with Intuit to Offer On-line Banking Services

Strategic Insights -

Centura, the only bank in North Carolina offering on-line banking through Quicken, has formed an alliance with Intuit Inc. to enable customers to manage their finances electronically on their home computer. This service, expected to begin this fall, will allow Centura customers to automatically download their current bank account information, pay bills, and transfer money using Quicken. This partnership demonstrates Centura's commitment to innovation and customer service, with both companies believing that computer-driven services will be crucial in the bank of the future.

Key Takeaways:

  • Centura is the only bank in North Carolina to offer on-line banking through Quicken, a leading personal-finance software with over 8 million users in the United States.
  • Centura customers will be able to download their bank data and access financial records through Quicken, allowing for personalized financial guidance and better decision-making.
  • The partnership between Centura and Intuit offers a unique range of capabilities, including on-line banking on various operating systems (Windows 3.1, Windows 95, and Macintosh).
  • Centura's commitment to innovation is evident in their partnership with Microsoft to offer on-line banking through Microsoft Money personal finance software.
  • The Centura-Intuit relationship highlights the growing importance of computer-driven services in the banking industry.
  • Intuit, a pioneer in computerized personal finance management, also offers other popular products such as QuickBooks and TurboTax.

Statistics:

  • 70% of the nation's personal-finance software market is accounted for by Quicken.
  • Over 2.5 million users rely on Intuit's TurboTax and MacInTax software for tax preparation.
  • Centura has assets of $4.9 billion and offers a full range of banking, investments, and insurance services.
  • Intuit Inc. has over 8 million users of Quicken, the lead personal-finance software.
  • Only two banks in the Southeast and twenty banks nationally offer on-line banking through Quicken.

Sources:

  • PRNewswire (July 14, 1995)
  • Centura Bank
  • Intuit Inc.
  • NYSE (Centura, NYSE: CBC)
  • Microsoft Corporation