SimplyBiz parent signs 5 providers to distribution service

SimplyBiz parent signs 5 providers to distribution service

Fintel, the parent company of SimplyBiz, has signed a multi-year partnership with Schroders, Just, Guardian, BMO and 91 Asset Management for its managed distribution service.

The distribution as a service (DaaS) product is a subscription-based service which includes research, data, product design and targeted distribution.

It allows providers to tailor their products to specific customers based on behavioural insights data.

Fintel said: “By using the service, product providers are able to develop highly tailored propositions using Fintel’s segmental and behaviour insights, whilst also increasing the effectiveness of their distribution through targeted data sets”. 

Fintel said the benefit was two-fold, as more providers sign up more consumers will get products which are more closely aligned to their needs.

The service is delivered through Fintel’s digital portal, allowing partners to access their data, and events and marketing plans in real time.

This was partly made possible by Fintel's acquisition of Defaqto in March 2019, which allowed it to develop digital, data-led consultancy services. 

Matt Timmins, joint CEO of Fintel, said: “Fintel operates as the connecting force between product providers, intermediaries and consumers, with a mission to simplify and improve how the market operates through technology, people and insights. 

“The launch of our managed distribution service reflects our commitment to simplify complexity, think bigger and deliver future focused solutions to inspire better outcomes in retail financial services.”

Doug Abbott, head of UK intermediary at Schroders, added: “We are delighted to be partnering with Fintel, and we have already seen the benefits of using their unique insight into the market to power highly targeted distribution activity in an efficient manner that benefits us, the adviser and ultimately the end consumer.” 

The Simplybiz Group rebranded to Fintel in March as it looked to become a "house of quality brands" in the financial services market.

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