17 March 2026 RNS REACH
This is a Reach (i.e. non-regulatory) announcement and the information contained is not considered to be material or to have a significant impact on management's expectations of the Company's performance.
Fintel plc
("Fintel", the "Company" or the "Group")
Fintel partners with Intellect Design Arena to introduce enterprise grade
Agentic AI advisory architecture to the UK market
Fintel plc (AIM: FNTL), a leading provider of software and services to the UK retail financial services sector, is pleased to announce that it has entered into non legally binding heads of terms agreement with Intellect Design Arena Limited (NSE: INTELLECT), a global leader in AI-first, enterprise-grade financial technology, to establish a joint venture company (the "Joint Venture") to develop and commercialise an AI-led financial advisory platform for the UK market (the "Platform").
Key Highlights
• 50:50 joint venture to be incorporated in the United Kingdom, subject to regulatory approvals
• Platform to be specifically designed for the UK retail financial services market, combining Fintel's market-leading data, distribution and customer relationships with Intellect Design Arena's AI-first technology and global financial services expertise
• Governance structure of five board members: two nominees each from Fintel and Intellect Design Arena, plus one independent director
• Capital contributions and share issuance details to be finalised at incorporation; no material cash outflow anticipated at this stage, with both parties seeking to invest up to £5m in JV funding
• Consistent with Fintel's stated strategy to become the key technology and data partner to UK retail financial services
Background and Strategic Rationale
The Board believes the Joint Venture represents a compelling opportunity to accelerate Fintel's Software & Data strategy by combining complementary capabilities across both organisations.
Fintel brings to the Joint Venture its deep UK market expertise, an established and loyal customer base spanning thousands of financial intermediaries, and Defaqto's market-leading product ratings, pricing data and research capabilities. Intellect Design Arena brings its proprietary eMACH.ai open finance platform and Purple Fabric AI architecture, which are deployed across more than 500 financial institutions in 57 countries.
The UK retail financial advisory market is undergoing significant structural change, driven by the Financial Conduct Authority's Consumer Duty requirements, rising demand for accessible financial advice, and rapid advances in AI-enabled technology. The Board considers the Joint Venture well positioned to address this opportunity by enabling advisers to access higher-quality, lower-cost technology, workflow and decisioning solutions through an integrated, AI-powered platform.
About Intellect Design Arena
Intellect Design Arena is a global leader in enterprise-grade financial technology, delivering composable and intelligent solutions to forward-looking financial institutions across 57 countries. With three decades of domain expertise, its product suite spans wholesale banking, consumer banking, central banking, wealth management, capital markets, treasury and insurance. Intellect Design Arena is listed on the National Stock Exchange of India.
Commenting on the announcement,
Matt Timmins, Chief Executive Officer of Fintel plc, said:
"2025 was a transformational year for Fintel and we enter 2026 with a clear strategic ambition: to be the defining technology and data platform for UK retail financial services. This joint venture with Intellect Design Arena is a significant step towards that goal. Intellect brings world-class AI-first financial technology that has been proven at scale across global markets. Combined with our unrivalled UK distribution, customer relationships and proprietary data assets, we believe the Joint Venture has the potential to materially enhance the quality and accessibility of financial advice in the UK - and to create meaningful long-term shareholder value for Fintel. We look forward to providing further details at our Capital Markets Event on 23 April 2026."
Next Steps
The Joint Venture is subject to finalisation of definitive legal documentation and necessary regulatory approvals. The Board will provide a further update on the Joint Venture, including initial capital contributions and commercial milestones, in due course. The Company's full year results for the year ended 31 December 2025 will be announced separately today, and the Board will discuss the Joint Venture further at its Capital Markets Event on 23 April 2026.
A further announcement will be made as and when appropriate.
For further information please contact:
Fintel plc
Phil Smith (Non-Executive Chairman)
Matt Timmins (Chief Executive Officer)
David Thompson (Chief Financial Officer)
via MHP Group
Intellect Design Arena
Banesh Pradhu (CEO)
Nachu Nagappan
+91 89396 19676
MHP Group (Financial PR)
Reg Hoare
Matthew Taylor
Lexi Iles
+44 (0) 7827 662 831
Fintel@mhpgroup.com
Notes to Editors
Fintel is a leading provider of software and services to the UK retail financial services sector. Through its two divisions, Software & Data and Services, and portfolio of trusted brands including Defaqto, Simplybiz and threesixty, Fintel provides technology and expert support services to thousands of intermediary businesses, data and distribution services to hundreds of financial institutions, and expert product ratings that empower millions of consumers to make better informed financial decisions.
For more information about Fintel, please visit: www.wearefintel.com
Headquartered in Chennai, India, and listed on the Indian Stock Exchange, Intellect Design Arena Ltd is a global leader in AI-First, enterprise-grade financial technology, architected from first principles to deliver measurable business impact at scale. With three decades of domain expertise, Intellect delivers composable, intelligent platforms across Wholesale Banking, Consumer Banking, Central Banking, Wealth, Capital Markets, Treasury, Insurance and Digital Technology for Commerce. Applying First Principles Thinking and Design Thinking, Intellect has elementalised financial services into a finite set of Events, Microservices and APIs, enabling faster, modular transformation with predictable and measurable outcomes.
At the heart of this AI-First architecture are eMACH.ai, the world's most comprehensive, composable and intelligent open finance platform; Purple Fabric, the world's first Open Business Impact AI platform; and iTurmeric, a composable integration and configuration platform. A pioneer in applying Design Thinking at enterprise scale, Intellect's 8012 FinTech Design Center - the world's first Design Center dedicated to Design Thinking principles, underscores its commitment to continuous, outcome-driven innovation. Intellect serves over 500+ customers across 61 countries, supported by a global workforce of domain, solution and technology experts.
For more information about Fintel, please visit: www.intellectai.com
