News 09.01.23

Twenty7tec announces second acquisition of 2023

Leading fintech firm Twenty7tec has today announced that it has acquired the remaining shares of digital & AI innovators Meet Parker for an undisclosed sum.

The award-winning digital engagement tool, Meet Parker, is best known for helping companies convert more leads, cross-sell additional policies, and retain more clients through the power of AI. With offices in the UK and the Far East, the company has built a range of sophisticated, customer-facing solutions that utilise artificial intelligence to engage with customers, triaging questions before ultimately passing the customer onto a qualified adviser, allowing a near-seamless transition from marketing and communication to real-person advice.

The company has also been developing a new solution, COMMUNICATE, an omni channel marketing solution, which will help advisers stay in touch with, and importantly, retain their existing clients.

This acquisition, which comes only days after the announcement that Twenty7tec had acquired mortgage affordability platform Broker Sense has the potential to change how advisers and customers interact with one another at the front of the advice process, placing technology, and in particular artificial intelligence, at the heart of the advice experience.

The deal will see the businesses join forces bringing over 120 employees together, with existing teams working from London, Bournemouth, and the Far East. Twenty7tec plans to deeply integrate all of Meet Parker’s solutions into its Velocity platform, allowing advisers across both the wealth and mortgage markets to use the latest in artificial intelligence technology to both improve retention and increase lead generation.

James Tucker, CEO of Twenty7tec, said: “Our overriding ambition is to simplify, streamline and digitise financial services. Over the last eight years, we have seen the huge benefits that great technology brings to the advice market. Our acquisition of Meet Parker, and the deployment of their artificial intelligence-led technology to all our users, is the obvious next step for us.

“This move will allow advisers to digitise the lead generation and new client onboarding parts of their business, as well as drive higher levels of retention. It is another step forwards in our plans to revolutionise the mortgage and wealth advice markets.”

Freddie Savundra, founder of Meet Parker, said: “Twenty7tec’s previous acquisition of Bluecoat Software in 2022 showed the company’s commitment to creating a seamless client journey with best of breed technology, which is the foundation of what we are trying to achieve here.

“Meet Parker has been a huge success in the financial services market, and this acquisition will transform how those working in the mortgage and wealth markets communicate with customers. It’s an exciting time for us all, and we are looking forward to seeing what the future holds.

“Finally, I’d like to say thanks to Phil Bailey who is leaving having helped both Twenty7tec and Meet Parker on their expansions. Phil has been a great ambassador for technology in the intermediary market and we wish him well with his yet-to-be-announced next venture.”