To promote its Open Financial Exchange- (OFX-) enabled wealth management software, Prologic Corporation has established a strategic alliance with Intuit. Prologic is a founding member of Intuit’s OFX solution provider program. OFX is a unified specification for electronic exchange of financial data between financial institutions, businesses, and consumers via the Internet. OFX supports secure online banking and bill payment and presentment. Intuit developed OFX as a protocol for financial transactions between banks and Quicken, its personal finance software. “Prologic’s products help advance how personal wealth management is practiced by individuals,” says Enrico Roderick, Intuit’s vice president and general manager of the personal finance group. “Through implementing their excellent enterprise wealth management solutions, Prologic is also helping Intuit accelerate adoption and standardization of OFX within the global financial industry.” OFX 2.0 will be used in Prologic’s new i-Wealthview enterprise wealth management software to help large financial institutions worldwide provide high-net-worth customers with Internet-based wealth management services as well as to help the institutions increase customer acquisition, retention, and profitability, according to Mike Cardiff, Prologic president and CEO.
