Fintel, the UK provider of software, data and support services for retail financial services, has acquired Mortgage Brain Holdings, a move that pushes the company deeper into the mortgage market and challenges the legacy systems many advisers still depend on.
The deal adds to Fintel’s Software & Data division and gives the group a foothold in mortgage advice, which is among the biggest financial decisions consumers face. Fintel describes the purchase as a major advance in its long-term ambition to build the infrastructure underpinning retail financial services.
As part of the transaction, Mortgage Brain chief executive Zahid Bilgrami will stay at the helm of the business and also become CEO of Fintel’s Software & Data division. In this expanded position he will once again oversee Defaqto, which he previously led for 11 years. Fintel has committed to substantial ongoing investment in Mortgage Brain’s technology, including accelerated work on AI solutions.
Fintel argues that advisers increasingly work across wealth, mortgages and protection, yet many still use fragmented, outdated applications. These disconnected tools force staff to enter the same data repeatedly and add operational complexity.
The group’s view is that advice will increasingly run on specialist applications that integrate smoothly with one another, cutting administrative work and freeing advisers to focus on clients.
The acquisition sits alongside Fintel’s 49% holding in Plannr, a cloud-native CRM platform built for financial planners. Mortgage Brain carries that approach into mortgages, helping Fintel serve the expanding group of advisers who offer several advice disciplines to the same client.
A recent tie-up between the two businesses already embeds Mortgage Brain’s sourcing, criteria, affordability and submission tools within Plannr, allowing advisers to progress from the initial client fact-find to a mortgage application without leaving one workflow.
For more than four decades, Mortgage Brain has developed technology linking advisers and lenders across every stage of the mortgage process, covering sourcing, criteria checks, affordability assessments and application submission. Fintel expects the combination with its own software, data, compliance and adviser support services to speed up innovation, raise productivity and improve connectivity throughout the intermediary market.
The deal also brings in AE3 Media, which operates a collection of digital media and engagement platforms that Fintel says will help encourage industry collaboration and market insight. Looking further ahead, Fintel intends to link more technology, data and workflows across the advice sector, guided by the principle that advice firms should keep ownership of their data while using specialist applications that work together.
Fintel CEO Matt Timmins said, “We believe the future of financial advice will be built on connected technology, trusted data and specialist applications that work seamlessly together.
“Our investment in Plannr reflected our conviction that wealth advisers deserve modern, flexible technology that supports the evolving needs of advice businesses. In a market dominated by legacy tech providers, Plannr has proven that advisers want modern connected systems and they want to own their own data.
“The acquisition of Mortgage Brain extends that strategy into the mortgage market and strengthens our ability to support the growing number of advisers delivering multiple advice disciplines through a single client relationship.
“Mortgage Brain is a highly respected technology business with deep industry relationships and a long history of innovation. Combined with our existing Software & Data capabilities it represents another important step towards delivering our mission to build the platform and infrastructure powering the future of retail financial services.
“I am particularly pleased to welcome Zahid Bilgrami to Fintel’s leadership team. Zahid’s return to Defaqto, alongside his continued leadership of Mortgage Brain and our wider Software & Data division, creates a unique opportunity to bring together some of the most respected technology and data businesses in UK retail financial services under a shared vision for growth, innovation and adviser success.”
Mortgage Brain CEO Zahid Bilgrami added, “Mortgage Brain has built one of the most recognised and trusted technology platforms in the UK mortgage market, helping advisers, lenders and networks work more effectively through deep industry expertise, strong customer relationships and innovative solutions. Joining Fintel marks an exciting new chapter for our business, our people and our customers.
“The mortgage market continues to evolve rapidly, creating new opportunities to simplify processes, improve connectivity and deliver better experiences for advisers and consumers. By combining Mortgage Brain’s capabilities with Fintel’s broader software, data and regulatory expertise, we are bringing together complementary strengths that create a powerful platform for growth, innovation and customer value.
“Having previously led Defaqto, I am delighted to be returning to the business and taking on the wider leadership of Fintel’s Software & Data division. We share a common belief in the importance of professional advice and the role that technology, data and insight play in supporting it. With Fintel’s continued investment and long-term commitment to innovation, we have a unique opportunity to accelerate product development, harness the potential of AI and deliver even greater value to advisers, lenders, providers and consumers across the financial services ecosystem.”
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