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Banking & Finance news

22seven out of beta phase with positive results

11 May 2012 13:55
22seven, a new generation, money management service to help people do more with the money they have, has gone live following its beta testing from January 2012.
Christo Davel, CEO of 22seven says, "We have used this time to thoroughly test the service, technically, practically and, most importantly, philosophically. We wanted to be absolutely sure that the idea we have been working on for the last three years met a real need.

"We've had blog posts, emails, phone conversations, tweets, Facebook messages and even face-to-face coffee sessions with our customers that confirm how much it has made a difference and how it can continue to do so. This depth of engagement does not happen unless people really see the value in what we are doing. It's been rewarding."

Site changes

The modular services tested in the beta phase have been integrated into a cohesive view that gives a sense of a complete financial journey. The most significant changes to the site are:
  • New design - the site makeover is simpler, more intuitive and provides more detailed information
  • A different look at balances - banks tend to show customers' 'available balance', however, this includes money that can be borrowed. Once logged in to the service, customers will be able to see exactly how much money they have, already owe and can borrow.
  • A perspective on money over time - its modules have not changed, but the way they are presented has. The new service is arranged in a way that helps customers look at what they did, are doing and can do with their money.
"All these changes are important, as they shift how we use our past to explore changes we can make right now, while being mindful of how we want to use our money in the future. These changes and additions are designed to show us our money differently and to do more with it."

"22seven may have come out of beta, but the journey has just begun. Not just in introducing new features, although obviously those are coming, but in how this product can help people change their relationship with money. This plan is not simply to get people out of debt or help them save more. It's our intention to fundamentally and permanently alter the relationship with money for the better."

The service, accessed via www.22seven.com, works with all local banks and is offered to customers with a 30-day free trial period, after which it will cost R70 per month.
    
 
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Read more: Christo Davel, 22seven

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