Javelin in the News
Wall Street Journal - Intuit Inc. (INTU) expanded its mobile strategy Monday, buying the Web banking technology of Mobile Money Ventures for an undisclosed sum. Mountain View, Calif.-based Intuit, which streamlined tax preparation with TurboTax, is focusing next on making the phone a primary device for banking and processing transactions. Buying MMV gives Intuit ownership of all the technology used in Intuit mobile banking software that it provides to about 320 U.S. banks and credit unions. After the acquisition, Intuit will be able to better manage customer support and speed product development. ... The Intuit deal recognizes that people are beginning to make the smartphone the "remote control for their financial life," said Mark Schwanhausser, with Javelin Strategy & Research.