Fintel : Annual Report & Accounts 2020

Inspiring Better Outcomes

Fintel plc

Annual report and accounts 2020

Inspiring

Better

Outcomes

Operating at the heart of retail financial services, we are a connecting force, inspiring better outcomes that benefit everyone from product providers to intermediaries to consumers.

By simplifying and supporting the complex world of financial services, we help create outcomes that leave everyone better off.

It's our defining purpose as a business, shared across our people, our culture and our family of brands.

www.wearefintel.com

With an expanded market position, Fintech & Service platform, we will continue to work in the best interests of the market, delivering a new era of digital, data led and expert services to the retail financial services sector."

KEN DAVY - NON-EXECUTIVE CHAIRMAN

STRATEGIC REPORT

Highlights

• Rapidly accelerated Digital strategy
• Good growth in core intermediary firms
• Strong growth in Fintech contracts and recommendations
• Robust growth in Defaqto Fund Mappings
• Resilience in Mortgage completions

REVENUE (£M)

£61.0m-3%

201850.7

201962.8

202061.0

ADJUSTED EBITDA* (£M)

£17.3m-2%

201811.4

201917.7

202017.3

OPERATING PROFIT (£M)

£11.4m-5%

2018	6.8
2019	12.0
2020	11.4

BASIC EPS (P)

8.3p-10%

2018	3.96
2019	9.25
2020	8.34

ADJUSTED EPS** (P)

11.3p-13%

201811.62

201912.93

202011.27

CONTENTS

Strategic report

1. Highlights
2. About us

4 Investment case

6 Chairman's statement

1. Joint Chief Executive Officers' statement

1. Our services
2. Business model

1. Our strategy

1. Markets
2. Financial review

1. Risk management report

1. Sustainability

Governance

26 Board of Directors

1. Corporate governance report

1. Audit Committee report
2. Nomination Committee report

1. Remuneration report

1. Directors' report

1. Statement of Directors' responsibilities

Financial statements

39 Independent auditor's report

1. Consolidated statement of profit or loss and other comprehensive income
2. Consolidated statement of financial position
3. Company statement of financial position
4. Consolidated statement of changes in equity
5. Company statement of changes in equity
6. Consolidated statement of cash flows
7. Notes

1. Notice of annual general meeting

1. Company information

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Alternative performance measures

Adjusted EBITDA and Adjusted EPS are alternative performance measures for which a reconciliation to a GAAP measure is provided in note 8 on page 61.

• Adjusted EBITDA is earnings before interest, tax, depreciation, amortisation, share option charges and operating exceptional costs. Adjusted profit before tax excludes operating exceptional costs and amortisation of intangible assets arising on acquisition.
• Adjusted earnings per share is calculated as adjusted profit after tax, which excludes operating exceptional costs and amortisation of intangible assets arising on acquisition, divided by the average number of Ordinary Shares in issue for the period.

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STRATEGIC REPORT

About us

Simplifying and connecting financial services

A unique market position

We exist to simplify and connect the UK's retail financial services market to help it operate more effectively. We do this by acting in the best interests of the market, connecting and enabling product providers, intermediaries and consumers. By bringing them together - through technology, people, and insights - we inspire better outcomes for everyone.

Connecting the market

We are the connecting force within financial services.

By supporting product development with consumer behaviour insights and expert analysis, we help providers create more suitable products, and connect them with intermediaries. Our proprietary research and ratings service improves choice, experience and outcomes for consumers.

Enabling the market

We empower product providers, intermediaries and consumers by giving them the tools and expertise they need to make better informed decisions. We continuously develop our network of brands, our technology, and our team, to deliver the solutions the market needs to evolve.

Fintel; Combining the largest provider of support services to financial intermediaries with the UK's leading Fintech, research and ratings business, we inspire better financial outcomes for product providers, intermediaries and consumers."

KEN DAVY - NON-EXECUTIVE CHAIRMAN

2 | Annual report and accounts 2020

Customers

Product Intermediaries Consumers

Providers

Services

Product	Intermediary	Fintech and
distribution	support	research

Enablers

Technology People Insights

Product providers

Intermediaries

Consumers

U

E

T

K

K

R

E

R

T

A

A

M

I

L

FI

S

E

IC

N

A

V

R

NCIAL SE

Knowledge

We take the challenges our customers face and transform them into effective, relevant solutions which benefit everyone.

Influence

We use our intelligence, awareness and experience to connect our clients with consumers and shape a better financial future.

Reach

Combining the largest provider of intermediary business support with the industry leading financial information, ratings and Fintech business, we serve a diverse customer base with an extensive product platform to inspire better outcomes for all.

17%

of new IFA and mortgage firm regulatory applications are advised by experts from Fintel

£30bn	10,000
of retail financial transactions were	financial intermediaries using Fintel
supported by Fintel product	services or technology
recommendations in 2020

INSPIRING BETTER OUTCOMES

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