Fintel carries forward previous year’s momentum as it rebrands
FINTECH AND support services business Fintel said it carried forward momentum into this year as it reported broadly flat revenues and operating profit for the 12 months ended December 31, 2020.
The Huddersfield-based firm, which recently rebranded itself from The SimplyBiz Group, posted revenue of £61m, down from £62.8m the previous year while its operating profit was down from £12m to £11.4m.
Neil Stevens, joint CEO of Fintel, told The Yorkshire Post: “We’re very pleased with not only the results but the way in which we came through the year.
“We have invested heavily and turned out a full programme of research and development last year, while digitising the infrastructure of the business. We think these are really resilient results. More important for us is the momentum we carried through the year as we come into 2021.”
The pandemic has increased digitisation, Mr Stevens says, and that can only bode well for Fintel going forward.
He added: “All of the barriers and all of the resistance to using this stuff properly has gone now. It’s a massive enabler to digitisation.
“Digitisation helps you do things more efficiently but really that’s just the start. It’s when you start to connect data in digital services that the real power comes out.
“One of the big strategies for us is to connect our products, connect data flows. We think that really increases the value we have with our customers. It will drive more sales and higher pricing performance as well.”
The business has over 500 staff of which around 125 are based in Huddersfield.
Matt Timmins, joint CEO of Fintel, says the firm will be operating a hybrid home and office working policy having successfully switched all its staff to remote working.
He said: “We’ll be working in a modern way to suit the modern environment. Flexible working is really important to staff and it’s making sure that not everyone will be in the office every day but it’s still important to have a base that allows good collaboration amongst the teams.”