Mint.com chief executive Aaron Patzer was a big winner this week. Intuit (maker of the popular accounting software Quicken) acquired his personal finance startup for $170 million. And he’s also taking over as Intuit’s general manager of personal finance. Plus, Intuit’s Quicken Online service will become “powered by Mint,” meaning it will become a version of Mint with Quicken branding.
After the news came out, I had a chance to interview Patzer and his new boss, Dan Maurer, the senior vice president and general manager of Intuit’s Consumer Group. When I asked Patzer about his big goals now that he’s at Intuit, he noted that Mint already provides a pretty full view of a user’s finances across their various accounts and investments. “In the future, you’re going to see Mint allow users to move beyond budgeting, to doing more with your information,” Patzer said. “There are going to be more transactional elements, like bill pay and fund transfers.”
Another way Mint will allow you to do more with your data: Transferring all your account information directly into Intuit’s tax software TurboTax.
Maurer added that the opportunities for “cross-pollination” aren’t just limited to consumer software — tools like Mint’s savings engine could be useful for Intuit’s small business customers, too.
Meanwhile, Intuit plans to keep Mint.com running as a separate site, and Mint is still pushing forward with its own products. For example, it says the new version of its popular iPhone application will go live sometime today. New features include the ability to edit transactions from your iPhone, improved security, and “push” notifications, so users can receive alerts about financial activity even if they’re not logged into the app.
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