Fintel plc (LON:FNTL), a provider of software and services to the UK retail financial services sector, has entered into non legally binding heads of terms agreement with Intellect Design Arena Limited, a global leader in AI-first, enterprise-grade financial technology, to establish a joint venture company to develop and commercialise an AI-led financial advisory platform for the UK market.

The 50:50 joint venture will be incorporated in the United Kingdom, subject to regulatory approvals.

The platform will 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.

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.

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.”

The Joint Venture is subject to finalisation of definitive legal documentation and necessary regulatory approvals.