Intuit
www.qfn.com

 
Intuit’s BankNow is now available through the Web, along with America Online.

Intuit opened the doors on its much anticipated BankNow Internet Edition, the Web-based version of Intuit’s AOL BankNow, currently supported by 25 banks. On its Web, Intuit lists six banks participating in the new Internet service (and a seventh is mentioned in its press release). But a quick tour of the seven banks found only one, Centura (screenshot below), currently marketing the Web option to users. Barnett is also making it available for $7.95/month, but you have to call to find out about it.

What was a pioneering concept a year ago is somewhat anticlimactic now. While dial-up banking through Quicken or direct downloading from a bank’s Web into Quicken continues to have strong appeal due to the installed base of 10 million users, BankNow Internet Edition isn’t expected to gain the same bank following. Why? Banks can do the same without involving Intuit. One only needs to look at River City Bank’s Online Banker (next page) for a glimpse the future. If $368 million River City can put a PFM-like product on the Web, so can 1,000 other financial institutions.

Centura is the first bank to offer BankNow access from its Web. This provides Centura with a competitive Web offering, though users must download and install the BankNow plug-in before accessing accounts online.