Fintel PLC Strategic distribution partnership with M&G plc
June 14 2022 - 2:00AM
RNS Non-Regulatory
TIDMFNTL
Fintel PLC
14 June 2022
RNS Reach
14th June 2022
Fintel plc
("Fintel", the "Company", the "Group" or the "Business")
Fintel and M&G plc sign long term strategic distribution
partnership
Fintel (AIM: FNTL), the leading provider of Fintech and support
services to the UK retail financial services sector, announces that
M&G plc has become the latest partner to commit to a multi-year
agreement for its Managed Distribution Service (MDS), with the
agreement covering M&G's retail and savings business, primarily
Pru UK, and M&G Investments.
This latest partnership builds on the successful scaling of the
offering during 2021 and will further increase the level of
recurring revenues generated by the Company (SaaS and subscription
revenues represented 66% of core revenues in 2021).
Introduced in early 2021, Fintel's Managed Distribution Service
is a subscription-based service that combines data, product
research and distribution services. Using segmental and behavioural
insights combined with access to regulatory expertise, product
providers are able to develop tailored propositions and distribute
them through financial intermediaries.
Over 20 partners have now signed up to the Managed Distribution
Service, including leading brands such as Fidelity, Aviva, Just,
Guardian, Schroders, BMO, Premier Miton, Carmignac and Tatton, with
the service also being taken up by a number of SimplyBiz's
Protection and Mortgage Partners.
Matt Timmins, Joint CEO of Fintel, commented:
"I am delighted to announce Pru UK and M&G Investments as
our latest MDS partners, strengthening our joint commitment to
providing the best quality, most relevant support to the financial
services intermediaries who use Fintel's services. Fintel operates
as an industry connector to improve and simplify this complex
market and achieve better outcomes for all.
Our Managed Distribution Service provides a valuable
subscription offering for our customers - some of the largest names
in the industry - and continues to enhance the quality of our
earnings.
Fintel and M&G have enjoyed a strong partnership for the
last 15 years and we both look forward to the positive impact we
will continue to have in supporting advisers to deliver the best
possible outcomes to consumers."
ENDS
For further information, please contact:
Fintel plc via Instinctif Partners
Matt Timmins (Joint Chief Executive Officer)
Neil Stevens (Joint Chief Executive Officer)
David Thompson (Chief Financial Officer)
Instinctif Partners (Financial PR) +44 (0) 20 7866 7887
Mark Walter fintel@instinctif.com
Joe Quinlan
Notes to Editors
Fintel is the UK's leading fintech and support services business,
combining the largest provider of intermediary business support,
SimplyBiz, and the leading research, ratings, and Fintech
business, Defaqto.
Fintel provides technology, compliance and regulatory support
to thousands of intermediary businesses, data and targeted
distribution services to hundreds of product providers and
empowers millions of consumers to make better informed financial
decisions. We serve our customers through three core divisions:
The Intermediary Services division provides technology, compliance,
and regulatory support to thousands of intermediary businesses
through a comprehensive membership model. Members include
directly authorised IFAs, Wealth Managers and Mortgage Brokers.
The Distribution Channels division delivers market Insight
& analysis and targeted distribution strategies to financial
institutions and product providers. Clients include major
Life & Pension companies, Investment Houses, Banks and Building
Societies.
The Fintech and Research division (Defaqto) provides market
leading software, financial information and product research
to product providers and intermediaries. Defaqto also provides
product ratings (Star Ratings) on thousands of financial products.
Financial products are expertly reviewed by the Defaqto research
team and are compared and rated based on their underlying
features & benefits. Defaqto ratings help consumers compare
and buy financial products with confidence.
For more information about Fintel, please visit the website:
www.wearefintel.com
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