Fintel has confirmed a joint venture (JV) agreement with artificial intelligence (AI) financial technology company Intellect Design Arena to launch an “AI-led” financial advisory platform in the UK.
The 50/50 JV, which remains subject to regulatory approvals, is expected to be incorporated in the UK, with the platform to be "specifically designed" for the UK market, Fintel stated in an RNS Reach update this morning (17 March). Fintel's board pointed to Consumer Duty-driven structural change in the advice market, surging financial advice demand, and advances in AI technology as opportunities that the JV platform will be "well positioned to address" through "higher-quality, lower-cost technology, workflow and decisioning solutions through an integrated, AI-powered platform". Fintel...
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