Yorkshire FinTech Fintel has sold its fund management business.
In Brief:
Fintel provides FinTech services for UK retail banking.
Verbatim has been sold as part of a deal with Tatton Asset Management.
Tatton Asset Management and Fintel have agreed a £7mn FinTech and distribution agreement.
What does this mean?
Fintel is going to offer its technology to around 2500 of Tatton’s customers as part of a five year SaaS agreement. The Yorkshire firm says it’s an opportunity to continue to grow out its SaaS business.
