Intuit and Web 18s www.moneycontrol.com to provide personal finance management solutions in India

Written by Businesswire India | Bangalore | Updated: Aug 26 2009, 21:25pm hrs
Intuit Inc. and Web 18 have signed a three-year partnership to provide a new financial management tool to Indian consumers on Indias leading financial portal Moneycontrol.com. Intuit Money Manager will be Intuits first consumer offering in India. The beta version will initially be available for customers of Moneycontrol.com who have opted in for this early trial program. It will be extended to all the customers of Moneycontrol.com in the near future.

Intuit is a leading global developer of business and personal finance management solutions, and Moneycontrol.com is the leading financial portal from the Web 18, the online and mobile arm of Network18. The partnership results from Intuits Active Partner Strategy of working with premiere and trusted partners in India to provide easy-to-use solutions for the countrys consumers.

Intuit Money Manager is an innovative personal finance tool that offers consumers a smarter way to plan, track and grow their money for the future.

Commenting on the partnership, Umang Bedi, Managing Director, Intuit India Global Business Division, said, Moneycontrol.com has earned the reputation of being a key destination for Indian users and the synergy we bring together through our partnership will be the first of its kind in the industry.

Talking about the new product, Mr. Bedi said, Intuit Money Manager has been made in India, for India and enable our customers to save money and achieve their financial goals. The solution has been developed based on information gleaned from numerous studies on the financial lifestyles of Indians. Some of their key pain-points were logging into multiple websites to track their finances and monitoring their expenses, goals, and savings. This is our first offering for India and through this were aiming to change the way personal finance is managed in India. We are currently undergoing various trials and are confident that it will soon be the first choice of every Indian consumer.

Joyson Thomas, Chief Operating Officer, Web18 said, We are delighted with this strategic partnership and are excited about the opportunities that will arise through this relationship. We have been the premier end-to-end business and finance portal for Indian consumers and investors, and Intuit is a leading brand in the personal finance management space. This partnership will give our customers a 360 degree view of their finances. We are proud to be associated with a leader that has changed the way personal finance is managed, and we see a lot of value creation for our users through this partnership.

Intuit intends to announce other major partners in the months ahead. Following a series of trials with selected customers, Intuit expects to release Intuit Money Manager in the fall of 2009.