Fincentric Corp., a provider of enterprise wealth management and banking software, is reporting a revenue increase of 107% to US$39.5 million for the year ending Dec. 31, 2001. This compares to revenues of US$19.1 for the 12-month period ending December 31, 2000.

Mike Cardiff, Fincentric president and CEO said, “Our strong revenue growth and continued profitability throughout 2001 – despite the economic downturn – is testament to how the market has embraced our wealth management software solution.”

Software license revenue in 2001 increased by 195%, compared to the previous year, as highlighted by global implementations at American Express Bank and other implementations in U.S., U.K., Canada and South Africa.

“In 1999, we were the first to forecast the need for technology that would enable financial institutions to offer wealth management services, support the institutions’ convergence strategies, and improve profitability and customer retention,” Cardiff said. “This has now come to fruition. Fincentric has successfully established a leadership position in this wealth management technology sector, and has a solid track record of successful customer implementations.”

Fincentric reported profitable operations on revenues of US$8.6 million for the quarter ended December 31, 2001.