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Microsoft and Intuit announce Internet Banking standard

Online banking competitors Microsoft and Intuit announced this week a new standard for online transactions. This new standard, OFX (Open Financial Exchange), allows financial institutions and their customers to communicate over the Internet in an open, standards-based way. The two rivals came together at the request of major players in the banking industry. Both companies wanted to point out, however, that they will continue to compete with features and pricing. Naturally

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