| Founded | July 1995; 30 years ago (1995-07) |
|---|---|
| Founder | Paul Fiore Daniel Jacoby |
| Fate | Acquired byNCR Corporation in 2014; divested toVeritas Capital in 2024 and now part of Candescent |
| Headquarters | Redwood City, California |
Digital Insight was an American provider of online banking software for banks and credit unions, headquartered in California. Founded in 1995 by Paul Fiore and Daniel Jacoby,[1] the company grew rapidly during the late 1990s, went public during the dot-com boom in 1999, and expanded through a series of acquisitions. In 2007, it was purchased byIntuit and rebranded as Intuit Financial Services.[2] The business was later sold to private equity firmThoma Bravo in 2013,[3] restored to the Digital Insight name, and acquired byNCR Corporation in 2014 as part of its digital banking division.[4] In August 2024, NCR Voyix agreed to sell the division toVeritas Capital, after which it became part of Candescent.[5]
The company was founded in July 1995 by Paul Fiore and Daniel Jacoby.[6]
In February 1996, the company raised $1.1 million inseed money from the founders' former employer, XP Systems, and received its first client, Community Credit Union, ofPlano, Texas.[7]
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.[7]
In April 1997, the company raised $6 million fromMenlo Ventures.[8]
In September 1997, the company acquired RJE Internet Services, a developer of bank websites.[9]
In March 1998, the company raised $3 million from Menlo Ventures and $5 million fromHarbourVest Partners.[10]
In October 1998, John Dorman became CEO of the company.
On October 1, 1999, during thedot-com bubble, the company became apublic company via aninitial public offering. After pricing at $15 per share, the stock rose to $32 per share on its first day of trading, up 114%.[11][12]
In February 2000, the company acquired nFront.[13]
In April 2000, the company acquired 1View Network.[14]
In July 2000, the company acquired AnyTime Access for $140 million.[15][16]
In February 2002, the company acquired Virtual FinancialServices for $51 million.[17]
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).[18][19]
Also in October 2003, Jeffrey Stiefler was named CEO of the company.
On February 7, 2007,Intuit acquired the company for $1.35 billion.[20]
In October 2008, the company introduced the consumer version ofFinanceWorks[21] and in December 2008, the small business version was launched.[22]
In September 2013, John O’Malley was named CEO of the company.[23]
On August 1, 2013Thoma Bravo acquired Intuit Financial Services for $1.025 billion.[24]
On January 10, 2014,NCR Corporation acquired the company for $1.65 billion.[25][26]
In 2015, the company integratedEyeVerify's eye vein recognition technology, called Eyeprint ID, into its mobile banking platforms.[27]
On August 6, 2024,NCR Voyix entered an agreement to sell their digital banking platform to Veritas Capital for $2.45 billion.[28]
Digital Insight Corp. (Nasdaq: DGIN) rose 13 cents to $24. The Calabasas company has completed acquisition of Magnet Communications Inc. for 1.45 million shares of Digital stock and $33.5 million in cash.
