Barely a week into 2023 and Twenty7tec announces its second acquisition of the year.
Fintech firm Twenty7tec has acquired the remaining shares of the digital and artificial intelligence (AI) engagement tool Meet Parker. The acquisition was completed for an undisclosed sum.
Meet Parker is perhaps best recognised for its ability to convert leads and cross-sell policies for businesses. This is being achieved through Meet Parker’s predominant use of AI and within its newly-developed omnichannel marketing solution, ‘COMMUNICATE‘, which helps advisers communicate with, and retain their existing clients.
With offices in the UK and the Far East, Meet Parker has built a range of AI-based customer-facing solutions aimed at increasing consumer engagement. Twenty7tec’s acquisition of the company aims to explore the potential of AI within front-end advisory services.
The deal will see the businesses consolidate 120 employees with existing teams working from London, Bournemouth and Asia. Twenty7tec confirms the integration of all Meet Parker solutions into its Velocity platform.
This move is poised to engage the wealth and mortgage markets’ use of AI in lead generation and client correspondence.
James Tucker, CEO of Twenty7tec, describes the acquisition’s ambition as “simplify, streamline and digitise financial services.”
He sees the Meet Parker acquisition and the deployment of its AI-led technology as “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,” comments Tucker. “It’s another step forwards in our plans to revolutionise the mortgage and wealth advice markets.”
Twenty7tec acquires Broker Sense
This news follows the company’s acquisition of Broker Sense, which was also recently announced.
The mortgage affordability platform helps mortgage advisers assess client affordability against lender rules while connecting advisers to lenders.
Single data entry enables platform users to receive affordability results from around 100 mortgage lenders across both residential and buy-to-let sectors.
Since the acquisition, Broker Sense has completed its integration into Twenty7tec’s mortgage research module ‘SOURCE‘. This provides users with a single research solution for product, criteria and affordability when generating recommendations for their clients.
Consequently, Meet Parker will now merge its AI capabilities with Broker Sense under the Twenty7tec umbrella. Likewise, both companies complement the firm’s previous acquisition of Bluecoat Software in June of 2022.
Bluecoat Software provides the mortgage, protection and wealth management CRM solution ‘Finplan’ to over 300 advisory firms. Finplan is already integrated with Twenty7Tec’s ‘CloudTwenty7‘ platform, which allows clients of the combined business to benefit immediately from a fully integrated product offering.
CloudTwenty7 is used by over 15,000 mortgage advisers every day to search and apply for mortgages for their clients.
Meet Parker founder, Freddie Savundra, views Twenty7tec’s Bluecoat Software acquisition as a demonstration of its “commitment to creating a seamless client journey with best-of-breed technology.”
“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,” concludes Savundra.