Twenty7tec buys Meet Parker in second acquisition of 2023
By Gloria Methri
British mortgage technology firm Twenty7tec has acquired the remaining shares of digital and AI innovators Meet Parker for an undisclosed sum. The acquisition comes 18 months after Twenty7tec first invested in Meet Parker, which has developed a chatbot for the mortgage, insurance, and property sectors.
With offices in the UK and the Far East, the company has built a range of customer-facing solutions that utilise artificial intelligence to ask triaging questions to customers before ultimately passing them onto qualified advisers. The company has also been developing an omni channel marketing tool to help advisers stay in touch with, and retain, their existing clients.
The deal will see the two firms 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, “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.
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