MMV was formed in 2008 as a joint venture between Citigroup, a global financial services company, and SK Telecom Americas. As an Intuit partner, MMV provided a mobile web banking service currently reaching around 400,000 consumers.
Customers of 320 US banks and credit unions use Intuit’s existing mobile web technology, which was provided by MMV. Intuit also offers text message and downloadable application services to enable financial institution customers to conduct their banking tasks from their mobile phones.
Terms of the transaction are not material to Intuit’s financial results and have not been disclosed.
In recent news, Intuit has introduced a mobile banking application that is set to enable Android smartphone users to manage finances from their mobile devices.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now