Monetizing Mobile - Intuit Financial Services Case Study

Intuit Proprietary & Confidential

John Flora Director Product Management – Mobile Services

Monetization Case Study:

Intuit Financial Services


Intuit: How you may know us

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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

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

date

Help accountants be 20% more productive today…

Serve half of all accounting firms

Improving

Lives 50M

Improve FI profit per customer by 20%…Internet banking customers equal to

the 5th largest U.S. bank

~

Our Mission: Improve people’s financial lives

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35 million customers Hosted products & services

62% Revenue from connected services

$1.5 billion Revenue from SaaS

A Connected Services Company


Prep & file my taxes

Manage my Finances

Get Paid

Intuit Mobile Apps Address Real Problems

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Intuit Financial Services Providing digital banking solutions for financial institutions

• 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 Financial Services focuses on helping FI’s drive engagement with experiences that meet the needs of consumer’s mobile lifestyle

At home or in the office

Instead of a PC

Anywhere

On the Go Anytime, Anywhere

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Mobile Web SMS Text Banking Launched May 2004 Launched October 2009

Apps Launched Sept 2010

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


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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http://spitfire.corp.intuit.net/sites/ifspad/IFS app final screenshots/transfers_landscape.png

http://spitfire.corp.intuit.net/sites/ifspad/IFS app final screenshots/billPay_scheduledAndPayees_landscape.png

http://spitfire.corp.intuit.net/sites/ifspad/IFS app final screenshots/Locations_landscape2.PNG


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

Mobile deepens the relationship through innovative new solutions…

They can’t imagine doing it any other way.

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

“I’m able to save money on purchases that are relevant to me when I’m on the go.”

Creating a more engaging customer experience.

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…and it drives higher end user engagement

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

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With OLB and mobile…

+45% …and growing

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All Members Accounts owned Retention PPC

Online, without Mobile 3.92 90.87% $356

Online, with Mobile 3.93 99.49% $391

$35

10%

Gen Y Accounts owned Retention PPC



$50

18%

Gen X Accounts owned Retention PPC



$59

17%

Boomers Accounts owned Retention PPC



$63

16%

Seniors Accounts owned Retention PPC



$106

26%

10% increase weighted by 85% of

mobile users in Gen Y and Gen X population

What profitability can look like for FI’s offering mobile banking

Consumers using Intuit’s Mobile Banking are at least 10% more profitable than online without mobile banking

Intuit Profitability Study, IFS FI’s. 2011

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FI’s offering mobile solutions can increase revenue and lower costs

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

Increase Revenue Mobile Consumers conduct 38% more monthly debit card purchases than Online & non-Mobile.

Increase Marketing Traffic Mobile Consumers access financial information 80% more frequently

Intuit Profitability Study, IFS FI’s. 2011

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Technology

Monetizing Mobile - Intuit Financial Services Case Study