BANKDIRECT ANNOUNCES DIRECT INTERFACE WITH QUICKEN® FINANCIAL
SOFTWARE
Partnership Provides Quicken Users First Direct Access To
Higher, Internet-Only Banking Rates
DALLAS (November 18, 1999) - BankDirect, the nation's most progressive
Internet bank, today announced a partnership with financial software leader
Intuit Inc. (NASDAQ:INTU), to provide consumers with a direct interface to
connect the online bank with Quicken personal financial management software.
The interface establishes BankDirect as the first Internet-only bank offering a
direct connection between an individual's bank records and Quicken 2000
software. The new interface gives BankDirect customers the ability to view
account balances, pay bills and perform financial analysis directly from
Quicken. With the direct connection, Quicken users bypass the traditional
downloading and conversion of intermediate files by automatically "populating"
Quicken's financial management software with records directly from BankDirect.
Higher Interest Rates For Quicken Users The interface positions
BankDirect to be the first Internet-only bank to offer Quicken's 11.6 million
users the benefit of higher interest rates, lower fees and more flexible
services provided by BankDirect while still using their Quicken software.
Operating without the need or expense of brick-and-mortar branch offices and
staff, BankDirect offers up to 4.75% interest on checking accounts and 5.25% on
money market accounts -- significantly higher than rates offered by traditional
banks. In addition, BankDirect does not charge customers monthly account
maintenance fees, resulting in additional savings.
"This interface makes it very convenient for loyal Quicken users to take
advantage of BankDirect's competitive products," said Rose Hultgren, president
of BankDirect. "We believe the direct interface will provide a significant
attraction to Quicken users who may have been tempted by higher online banking
rates, but have yet to take action."
Increased Control and Convenience The interface with Quicken is another
achievement in BankDirect's strategy of providing more convenient and
competitive banking products that allow people to bank anytime, anywhere.
"BankDirect was created to give consumers more control over their banking
activities," said Jody Grant, CEO of BankDirect. "This strategic alliance with
Intuit provides our customers with a superior method for managing personal
finances through Quicken."
"BankDirect's Quicken-using customers now have an additional incentive to bank
online," said Enrico Roderick, vice president of Intuit's desktop personal
finance. "The direct connection to bank statement data adds a time and
efficiency advantage that Quicken users will value."
About BankDirect BankDirect is redefining value in personal finance by
leveraging the power of the Internet to provide convenience, competitive
banking products and responsive service. BankDirect provides no-fee, high
interest checking, money market accounts and CDs, as well as free bill-pay
service to customers around the nation. Launched in May 1999, BankDirect
operates on the World Wide Web at www.bankdirect.com
. BankDirect is the national Internet banking division of Texas Capital Bank.
Texas Capital Bank is privately owned and operated by the holding company,
Texas Capital Bancshares, Inc., which was founded in December, 1998 with the
largest start up capitalization in U.S. banking history.
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.
Contact Information:
Rose Hultgren
BankDirect
214-932-6690