New DI President Leads Integration into Intuit, Launch of FinanceWorks
CALABASAS, Calif. -- A veteran of the tax software side of Intuit Inc. has taken over the reins of what is now officially known as Digital Insight, an Intuit company.
Sasan Goodarzi had been vice president of Intuit's professional tax division, ProTax, from 2005-2007.
He now is president of Digital Insight, and in charge of the strategic vision and daily operations of Intuit's Financial Institutions Division, a provider of online banking services to approximately 900 credit unions and an equivalent number of banks across the United States.
Goodarzi succeeds Jeff Stieffler, who Goodarzi says is now chairman of the Digital Insight advisory board.
Originating in the credit union space, DI was created in 1995 by former XP Systems executives and quickly grew to be a major player in the new online banking space. It now commands about 10% of that overall market.
Intuit Inc., meanwhile, produces Quicken, QuickBooks and TurboTax, household names in personal and small business software. Mountain View-based Intuit purchased DI in February 2007 for $1.3 billion.
"Digital Insight is the biggest acquisition that Intuit has made," Goodarzi said. "If you talk to our CEO and board members and ask them, they'll tell you the number one priority of our company right now is the successful integration of Digital Insight and ensuring that we can deliver on the promise of what this can deliver to customers and end users."
That integration is now taking place under the name FinanceWorks, a pre-integrated set of solutions designed to help financial institutions become their members' and customers' financial "home page" for everything from account opening and transfers to bill pay to payroll for small businesses.
"We have three growth engines that we are investing in across the company," Goodarzi said. "One is small business, the other is consumer and professional tax help, and the third one is the financial institutions group, which is the division I now lead.
"In our division, we have a view that we can be a billion-dollar operation one day. I'm not putting a time frame on it, but today we are about a $300 million business, and we think we are going to be a significant growth engine for this company."
Goodarzi said he left his post heading up the professional tax services operation at Intuit "only after doing my due diligence, and I'm even more excited now, 10 weeks after taking on this role, than I was when I got here."
Prior to Intuit, Goodarzi was president of the products group in the process systems division of Invensys. He also held senior management positions in the automation control division of Honeywell and was founder and CEO of the startup, Lazer Cables Inc. Goodarzi holds a bachelor's degree in electrical engineering from the University of Central Florida and an MBA from Northwestern University.
"When you think about the assets that Digital Insight already has and what Intuit brings to the table...well, at the end of the day, it's the human beings at the other end using our stuff, and we're going to be able to provide them with unparalleled ease of use and ways of solving their financial management problems that have never been available before," he said. "To us, and to the end user, this combination of Intuit and Digital Insight is going to be a new kind of magic. We really believe that."