The rebrand follows SimplyBiz’s £74m acquisition of Defaqto in 2019. Fintel hopes to respond to the increasingly complex world of retail financial services.
Matt Timmins, Joint CEO of Fintel, said, “We are committed to offering market-leading technology, expertise and insights, underpinned by a drive to simplify and improve retail financial services.”
29% of new IFA and mortgage firm authorisations are managed by Fintel’s team, and it also provides data and targeted distribution services to more than 400 product providers.
The rebranding reflects Fintels aims to be data and digital-led as it continues to expand.
Ken Davy, Chairman of Fintel, said, “For the past two decades, we have been resolutely future-focused and expanded our reach across retail financial services through organic growth and acquisitions.”
Davy continued, “We have helped our customers operate compliant and successful businesses and worked with them to stay ahead of the curve as the market has rapidly evolved as a result of new regulations and increased digitisation.”
There are 30,000 retail financial products to choose from in the UK, spanning home, motor and travel insurance, too credit cards, too wealth planning and pensions.
A Fintel spokesperson said they want to “respond to a growing need for clarity.”
Matt Timmins, Joint CEO of Fintel, commented: “In a new era of financial services, fuelled by heightened regulatory scrutiny and increasing digital adoption, we have evolved to become Fintel.”
Timmins continued, “As we accelerate our reach with a digitised offering, we will continue to work in the best interests of the market to connect and enable product providers, intermediaries and consumers.”
Timmins concluded, “It is our ambition to give the market the insights, interconnectivity and support it needs to adapt and evolve to its greatest potential.”
