Last checked at 14 Jun 2022 07:00
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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