Liberty Bank of Middletown, Conn., has agreed to use online banking software from Intuit Inc.
The Mountain View, Calif., vendor said Wednesday that Liberty will use the consumer Internet Banking and Business Banking products developed by Digital Insight Corp., which Intuit acquired in February.
Liberty said it chose Intuit because it preferred to outsource its online banking.
"Having to manage an in-house solution can limit the ability of a bank to offer its customers the latest online products and services, which takes away from the ability to serve them," Barry Abramowitz, Liberty's chief information officer, said in an Intuit press release.
Intuit said last month that it would start upgrading its online banking offerings in June to include features from its Quicken personal financial management software, such as spending charts and projections.
Liberty also will use Intuit's Direct Connect service, which lets Quicken users download transaction data to their computers.
According to its Web site, Liberty will move its customers to Intuit's software next month.
Intuit announced two deals last year that it said would help it expand into the payments software market. It paid $1.35 billion for Digital Insight, but last week pulled out of a pending $142 million deal for Electronic Clearing House Inc.
Echo said last week that it was involved in a federal probe of online gambling; though the Camarillo, Calif., company said it had processed some transactions for online casinos, it has been cooperating with investigators and faces no charges.
