The SimplyBiz Group, the leading fintech and support services business has rebranded and become Fintel.
The new brand reflects the company’s drive towards digitisation – putting people, technology and insights at the heart of the business – and its focus to lead the industry in the provision of digital, data led and expert services to help it evolve to its greatest potential.
Fintel has been created to harness the combined strength and reach of the established businesses within it, including SimplyBiz, the UK’s largest provider of intermediary business support and Defaqto, the UK’s leading research, ratings and fintech business.
For nearly two decades, the company has operated the UK’s leading support service business in retail financial services. It provides technology, compliance and regulatory support to thousands of intermediary businesses as well as data and targeted distribution services to more than 400 product providers, whilst empowering millions of consumers to make better informed financial decisions.
The launch of Fintel represents the company’s expanding role to help product providers, intermediaries and consumers navigate the increasingly complex world of retail financial services. With over 30,000 products to choose from, spanning home, motor and travel insurance, current accounts, credit cards, life and protection policies, wealth planning and pensions, Fintel responds to a growing need for clarity. It supports intermediaries and consumers in making well-informed decisions, and assists product providers in identifying, developing and distributing the right products to meet consumer needs.
Fintel helps product providers to build better products through its market insights and analysis, product design, and product research and comparison tools. It enables intermediaries to serve more clients, more effectively, with its product research and comparison database, financial planning and advice workflow software, and compliance, business and regulatory support. Through Defaqto, Fintel empowers consumers to make better informed choices, providing product education and comparison tools, product reviews and expert ratings.
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. 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. We are committed to offering market-leading technology, expertise and insights, underpinned by a drive to simply and improve retail financial services.
“The established brands within Fintel combine the UK’s largest provider of support services to financial intermediaries with the UK’s leading financial information, ratings and fintech business. It is our ambition to give the market the insights, interconnectivity and support it needs to adapt and evolve to its greatest potential.”
Ken Davy, Chairman of Fintel, added: “For two decades, The SimplyBiz Group has been the UK’s leading support services business to financial intermediaries. 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.
“Throughout this period, we have been resolutely future-focused and expanded our reach across retail financial services through organic growth and acquisitions. In 2019, we acquired Defaqto and have recently set out an ambitious digital growth strategy for the medium term. The time is now right to evolve our corporate brand into Fintel and harness our knowledge, influence and excellence to help the market and our clients operate more effectively and inspire better outcomes for all.”
