Fintech Awards 2021

www.wealthandfinance-news.com 14 Wealth & Finance International - 2021 FinTech Awards APR2w2 Headquartered in the UK, Kore Labs is proud to offer the first-ever SaaS solution for end-to- end product management in financial services. The team’s work with global banks, wealth and investment management firms has increased the capacity for client-facing teams, boosted productivity for product managers, cut costs and created a defensible audit trail for regulatory compliance, throughout the product lifecycle. Kore Labs focuses on addressing the issues revolving around governance and oversight matters, and the fines that can arise in this field. Their turn-key digital solution is one which can start small and scale rapidly to meet the needs of the business. In the past, the challenge for many businesses has been to document challenges, decisions and checks effectively, leading to a situation where regulators cannot follow an effective audit trail of historical activities. Kore Labs, in essence, offers this audit trail. In the field of FinTech, the world is constantly moving forward and Kore Labs has committed to remaining at the cutting edge of industry developments. The team hire the best possible staff, and remain in close daily contact to ensure that the services they offer meet the requirements of the day. Such an innovative company has gained attention from some of the most respected names in the financial services sector who serve on the business’ advisory board. By taking such proactive action to stay ahead, Kore Labs offers a service that is without parallel. Kore, therefore, has pride of place as the first subscription-based PRM-as-a-Service solution (Product Relationship Management). While financial products create an enormous number of different records, this is a product that can organise the information for the benefit of the business. Users merely have to refer to a single place to view all product data, events, documents and processes. Kore has become an invaluable asset to product managers, compliance and risk officers and senior managers in financial institutions, who are responsible for creating, managing and overseeing the financial products lifecycle, as well as by frontline teams, who need to product information to be readily accessible. With large portfolios to handle, the challenge for many financial institutions is ensuring an appropriate level of governance across the board. With around $23.4 billion of fines levied on financial services firms between 2018 and 2020, a solution was needed. The team behind Kore Labs Ltd have that solution, using technology to transform the way in which these organisations work. Having achieved incredible success in the FinTech Awards 2021, we profile the firm to see how it has been able to thrive in this rapidly evolving industry. Most Innovative Digital Product Governance SaaS Solution 2021 What sets Kore apart is the way that it is innovation in action. The team are always looking for ways in which they can operate effectively in their environments and satisfy their client’s needs as they evolve. The team are constantly looking at the direction of regulations within the industry, in order to assess its impact on product management. The team also collaborate with academia, and last year worked with Cass Business School to develop the first-ever academically robust taxonomy framework for client needs in the modern financial industry, and how these are matched with products. The results of this breakthrough research have been detailed in a white paper published in March 2021. The team are not content simply to be the best in the industry – every step they have made has been in an attempt to raise the standards of the FinTech sector as a whole. Project management and governance is not an easy task, but the role of Kore is to take the pain out of these often complex procedures. As Kore Labs Ltd Jun21310 the team expand internationally, it’s clear that they will be able to adapt more of the new AI techniques and prediction algorithms to ensure that clients can benefit from brand new insights. What sets the team apart is not their position as a valuable addition to a business’s operation, but the invaluable way in which they are set to spread across the entire financial services industry. Company: Kore Labs Ltd Name: Kore Email: [email protected] Web Address: www.korelabs.co