Intuit Set to Offer Net Banking

Intuit announced today that by the second half of next year it plans to join with financial institutions to offer banking via the Internet. The new service will feature security based on the RSA Data Security encryption, company officials said.

Banks that sign on with Intuit will be able to connect to customers through interfaces supported by Intuit's electronic processing subsidiary, Intuit Services, allowing them to conduct online banking without the expense of starting their own system.

Intuit officials say the company is working on a general interface for Net banking and a customized version that will work as a plug-in to Netscape Navigator. The interface will be available free of charge at Intuit's and Netscape's Web sites.

Intuit and America Online last month announced their agreement to jointly provide electronic banking to AOL members starting in the first half of 1996. The announcement included Intuit's plan to revamp its AOL site and include links to its Quicken Financial Network Web site.