Monetization Case Study: Intuit Financial Services

John Flora

Director Product Management Mobile Services

Intuit Proprietary & Confidential

Monetization Case Study: Intuit Financial Services

John Flora

Director Product Management Mobile Services

Intuit Proprietary & Confidential

Monetization Case Study: Intuit Financial Services

John Flora

Director Product Management Mobile Services

Intuit Proprietary & Confidential

Intuit: How you may know us

Intuit Proprietary & Confidential

Our Mission: Improve peoples financial lives

Improving
~ Help families put up to $1,000 back in their pockets $550M in consumer savings identified to date

50M Lives

Help small businesses be 20% more profitable Customers revenues ~20% of U.S. GDP, pay 1 in 12 American workers

Help people get the maximum tax refund $50B in tax refunds, 1 out of every 3 tax returns e-filed
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Improve FI profit per customer by 20%Internet banking customers equal to the 5th largest U.S. bank

Help accountants be 20% more productive today Serve half of all accounting firms

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A Connected Services Company

$35 million
Hosted products & services

Revenue from connected services $1.5 billion

62%

Revenue from SaaS

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Intuit Mobile Apps Address Real Problems

Get Paid Manage my Finances Prep & file my taxes

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Providing digital banking solutions for financial institutions

Intuit Financial Services

1,800 Financial Institutions, with over 400 offering mobile Serving over 10 million end users, with potential reach over 30 3x the mobile banking user base of a year ago
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Intuit Proprietary & Confidential

Intuit Financial Services focuses on helping FIs drive engagement with experiences that meet the needs of consumers mobile lifestyle
At home or in the office Instead of a PC Anywhere On the Go Anytime, Anywhere

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The mobile triple play solves for the needs of consumers and their devices on the go
Launched May 2004

Mobile Web

SMS Text Banking

Launched October 2009

Apps
Launched Sept 2010

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Intuit Proprietary & Confidential

Tablet Banking solves for the devices consumers use with two hands on their couch, bed or just instead of their PC

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Intuit Proprietary & Confidential

Mobile deeps the relationship through innovative new solutions

They cant imagine doing it any other way.

I no longer have to run to the bank to make a deposit.

My bank reminds me, keeps me up to date and on track.

Im able to save money on purchases that are relevant to me when Im on the go.

Creating a more engaging customer experience.

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Intuit Proprietary & Confidential

and it drives higher end user engagement

Average Intuit OLB customer logs in ~150x per year.

With OLB and mobile

+45%
and growing
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What profitability can look like for FIs offering mobile banking
Consumers using Intuits Mobile Banking are at least 10% more profitable than online without mobile banking
All Members Online, without Mobile Online, with Mobile Accounts owned 3.92 3.93 Retention 90.87% 99.49% PPC $356 $391 $35 10% PPC $273 $323 $50 18% PPC $355 $415 $59 17% PPC $383 $446 $63 16% PPC $408 $513 $106 26%
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Gen Y Online, without Mobile Online, with Mobile

Accounts owned 3.00 3.24

Retention 90.87% 99.49%

Gen X Online, without Mobile Online, with Mobile

Accounts owned 3.91 4.17

Retention 90.87% 99.49%

Boomers Online, without Mobile Online, with Mobile

Accounts owned 4.21 4.48

Retention 90.87% 99.49%

10% increase weighted by 85% of mobile users in Gen Y and Gen X population

Seniors Online, without Mobile Online, with Mobile

Accounts owned 4.49 5.16

Retention 90.87% 99.49%

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Intuit Profitability Study, IFS FIs. 2011

FIs offering mobile solutions can increase revenue and lower costs
Increase Marketing Traffic
Mobile Consumers access financial information 80% more frequently

Increase Revenue

Mobile Consumers conduct 38% more monthly debit card purchases than Online & nonMobile.

High Retention

Mobile drives deep engagement aiding retention; lowers cost to acquire new

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Intuit Profitability Study, IFS FIs. 2011

Intuit Proprietary & Confidential

Intuit Proprietary & Confidential