South Africa's 20twenty Internet Banking Service Goes Online with Fincentric's i-Wealthview Software - Business - Brief Article

Information Superhighways Newsletter, Oct, 2001

Fincentric Corp., a provider of Web-enabled financial services software, announced that South Africa-based 20twenty Financial Services completed implementation and went online on July 21, 2001 using Fincentric's i-Wealthview Banking software.

20twenty is the first "cyberbank" in the region. It licensed i-Wealthview Banking as its Internet banking system to provide retail banking services to Web-savvy consumers in South Africa.

20twenty Financial Services is based in Cape Town and is 65 percent owned by Saambou Bank, a national retail bank headquartered in South Africa. 20twenty currently offers an innovative transactional account called the "20one account" that encompasses saving and current accounts, credit card and optional line of credit - all in one. 20twenty plans to add new products shortly, including electronic bill payment and presentment, financial aggregation, and a rewards program. It targets retail consumers and expects to capture 15 percent of South Africa's online banking market by the end of its first year.