Hey guys, wash away all those apprehensions you had about Intuit taking over Mint! In the past few days, Mint users were very concerned about their databases that contained vital information about their finances being shared with a third party. But now it looks as though, they can breathe easy. An assuring note from Scott Cook, Founder, Intuit, has just come in on Mint Blog.
Cook is all impressed with Mint. If you can see, the reason for this merger was the better features, management and services of Mint over the Intuit product Quicken that bowled over Intuit and they thought of acquiring Mint. The latter, on the other hand, is more than pleased to get a wider platform for canvassing. So the symbiosis is going to be a huge success, as I can see! Cook felt that his Quicken was sort of outdated for the present century and the coming times, and it was time they had revolutionized their products and services in the financial world. Well, they could have developed products of their own, in competition to Mint, but I think, their past experience might have taught them to better not do it. Quicken Online was originally developed as a competing product for Mint financial services. But Mint online services performed better in the markets because of the larger client database. A clever business strategy was to join hands with a business that was already thriving in the markets. Intuit can get access to the 1 million user database of Mint.
Scott Cook assures, “So let me set the record straight: Mint.com isn’t changing. It is remaining free. Following the close of the acquisition, Aaron Patzer and the Mint team will remain in charge of Mint.com to continue both its principles and its fast pace of progress.
We’re not planning to change Mint.com and make it like Quicken. Quite the opposite. Aaron and team will also run Quicken and Quicken.com to ensure this doesn’t happen. Plus they will benefit from this larger pool of resources. I want Mint thinking to infuse Quicken.”
mint.comEarlier Mint users were very apprehensive about the acquisition. All links to their personal banking, investment and credit history are available on Mint. They were concerned about the security of their finances when a new company would be accessing them. They might also have been concerned about any new policies of membership and usage coming into acquisition after the merger. But, with Scott’s assurance, Mint users can be assured that for them Mint is remaining the same- as free as before. They can also avail the benefits of Quicken. You get to access the features of Quicken also. Quicken Online can now use the database of Mint.
This collaboration seems to be a win-win situation for all the three parties concerned. Intuit comes into contact with a huge customer base, Mint gets the canvas advantage and users get greater resources. Let’s hope that the best work out here and the merger turns out to be big hit!