Digital Insight
From Wikipedia, the free encyclopedia
Digital Insight was a provider of online banking software to banks and credit unions. It also designed FinanceWorks, a product that allowed customers to manage their finances. In 2014, the company was acquired by and folded into NCR Corporation.
| |
| Founded | July 1995 |
|---|---|
| Founder | Paul Fiore Daniel Jacoby |
| Defunct | January 10, 2014 |
| Fate | Acquired by NCR Corporation |
| Headquarters | Redwood City, California |
History
Summarize
Perspective
The company was founded in July 1995 by Paul Fiore and Daniel Jacoby.[1]
In February 1996, the company raised $1.1 million in seed money from the founders' former employer, XP Systems, and received its first client, Community Credit Union, of Plano, Texas.[2]
The company had $85,000 in revenue in its first six months. Revenue jumped to $1.5 million in 1996 and to $4.1 million in 1997, and to $8.2 million in 1998.[2]
In April 1997, the company raised $6 million from Menlo Ventures.[3]
In September 1997, the company acquired RJE Internet Services, a developer of bank websites.[4]
In March 1998, the company raised $3 million from Menlo Ventures and $5 million from HarbourVest Partners.[5]
In October 1998, John Dorman became CEO of the company.
On October 1, 1999, during the dot-com bubble, the company became a public company via an initial public offering. After pricing at $15 per share, the stock rose to $32 per share on its first day of trading, up 114%.[6][7]
In February 2000, the company acquired nFront.[8]
In April 2000, the company acquired 1View Network.[9]
In July 2000, the company acquired AnyTime Access for $140 million.[10][11]
In February 2002, the company acquired Virtual FinancialServices for $51 million.[12]
In October 2003, the company acquired Magnet Communications for $33.5 million in cash and 1.45 million shares of Digital Insight common stock (valued at approximately $34.6 million at the time the acquisition was completed).[13][14]
Also in October 2003, Jeffrey Stiefler was named CEO of the company.
On February 7, 2007, Intuit acquired the company for $1.35 billion.[15]
In October 2008, the company introduced the consumer version of FinanceWorks[16] and in December 2008, the small business version was launched.[17]
In September 2013, John O’Malley was named CEO of the company.[18]
On August 1, 2013 Thoma Bravo acquired Intuit Financial Services for $1.025 billion.[19]
On January 10, 2014, NCR Corporation acquired the company for $1.65 billion.[20][21]
In 2015, the company integrated EyeVerify's eye vein recognition technology, called Eyeprint ID, into its mobile banking platforms.[22]
On August 6, 2024, NCR Voyix entered an agreement to sell their digital banking platform to Veritas Capital for $2.45 billion.[23]
References
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