Operating as a market connector at the heart of UK retail financial services, we recognise the importance of managing our business responsibly. Our strong governance standards and ethical, values-driven culture enable us to drive positive change and consistently deliver on our commitments.
Prepared inaugural TCFD report
Launched new staff Code of Ethics
Strengthened data security and cyber risk monitoring
With an ethical, values driven culture, we operate to the highest standards of transparency and integrity. Strong corporate governance standards are embedded across our organisation, enabling us to continuously deliver better outcomes for our stakeholders.
As a data-driven business providing digital services to our customers, data integrity and cyber security is one of our principal risks and a key focus for our business.
Our approach is aligned to a government backed standard, with our governance framework focusing on prevention and early detection of potential threats, whilst also preparing us to respond and recover effectively. This includes:
Strong governance is a key enabler of our strategy, and the Board ensures continual improvement of processes, controls and risk management to ensure our governance framework remains fit for purpose. This includes:
The Board is supported by four committees, details of which are outlined within the Directors' Responsibilities section.
We continue to adopt the Quoted Companies Alliance ("QCA") Corporate Governance Code, which is deemed to be the most suitable governance framework for Fintel, aligned to our strategy, size, nature of business and resources. You can find out more here.
You can learn more about our approach to corporate governance by reading Corporate Governance report section of the Annual Report and Accounts.
A robust risk management framework is key to maintaining our long-term success and allows us to effectively identify, evaluate and manage the risks faced by Fintel.
An overview of the risk management framework (which has been further strengthened through the formation of an Enterprise Risk and Business Performance Steering group in 2022) and a summary of the current principal risks can be found in our latest Annual Report and Accounts here.
We fully comply with our tax obligations, cooperate with the tax authorities and have a zero tolerance towards the criminal facilitation of tax evasion.
We are committed to preventing Fintel and our employees being exposed to money laundering, identifying the risks where it may occur and complying with legal and regulatory requirements, especially with regard to reporting suspected cases. Annual compulsory money laundering training is provided to all our colleagues and we have appropriate anti-money laundering policies and procedures in place. Further details can be found in our Code of Ethics.
We have zero tolerance for bribery and corruption and do not permit the use of facilitation payments either directly or indirectly through an agent or intermediary or to a charity or political cause. Annual compulsory anti bribery and corruption training is provided to all our colleagues and we have appropriate anti-bribery and anti-corruption policies and procedures in place. Further details can be found in our Code of Ethics.
We support and respect all internationally recognised human rights and seek to ensure we are not complicit in human rights abuses by any other person, organisation or government. Our commitment, principles and standards we require all our employees to follow, are set out within our Code of Ethics.
We expect our suppliers to follow high standards as well and the standards and principles we require them to follow are set out within our Supplier Code of Conduct.
We are committed to preventing acts of modern slavery and human trafficking from occurring within our business and supply chain and impose the same high standards on our suppliers.
We always act in compliance with employment legislation, ensure that all staff have the right to work in the UK, and are treated with respect.
We set out our full commitments, policies and processes within our Modern Slavery Statement, reviewed each year.
It is essential that any fraud, misconduct or wrongdoing by workers or officers of Fintel is reported and properly dealt with. We therefore encourage all individuals to raise any concerns that they may have about the conduct of others in the business or the way in which the business is run.
We recognise that to build a more sustainable future, we all have a role to play, and we are committed to managing the environmental footprint of our operations.
Due to the nature of our business, our impact on the environment is relatively low, which was also recognised by our key stakeholders who, as part of our ESG materiality assessment have scored our environmental footprint as a low priority area for us to address.
We do recognise, however, that to build a more sustainable future, we all have a role to play and we are committed to reducing the environmental impact of our operations. Our key focus areas include:
We offer our staff several ways to reduce their individual footprint, including:
The crucial first step for us to fully understand our impact was to measure our baseline, which is why in 2020 we started reporting on our greenhouse gas emissions under Streamlined Energy and Carbon Reporting guidelines. We are committed to continue improving our emissions data coverage, including expansion of our scope 3 (indirect) emissions data.
Scope 1 & 2 emissions carbon intensity ratio
(2021: 1.54 tcO2e/£m)
Target 13.2 Integrate climate change measures into policies and planning
Throughout 2022 we sought suppliers that would enable us to reduce our impact in a number of areas, which resulted in moving our adviser magazine printing contract to an ISO 14001 accredited and Forest Stewardship Council (“FSC”) certified supplier and appointment of a new electronic waste disposal partner, helping us to redirect 100% of our e-waste from landfill from 2023.
We also support our people to reduce their footprint through a hybrid working policy, available across all Fintel roles, reducing the emissions caused by the daily commute. Building on this, within the Flexible Benefits Platform, launched in 2022, we offer: a cycle to work scheme, an electric vehicle scheme (available to our Defaqto colleagues), a carbon offsetting scheme, access to “modern milkman” services reducing plastic waste and a “too good to go” scheme reducing food waste.
You can find "Our Contribution to SDGs" here.
Driving positive change in our business, our industry and broader communities, inspiring better outcomes for all.
Empowering our people and communities, promoting diversity, learning and financial education to create opportunities for all.
Improving the Retail Financial Services Industry by enabling it to operate more effectively and meet the evolving needs of consumers.