Technology
Digital Digest: The Latest Tech News – Kore Labs, Weatherbys Private Bank
The latest technology news in the wealth management sector from around the world.
Weatherbys
Private Bank is adopting Kore's digital Product
Relationship Management as-a-Service platform to strengthen its
approach to product governance and cut down on manual
processes.
The platform offers a set of digital tools for creating, managing
and monitoring financial products, from ideation to retirement,
which Kore said is changing how financial services firms approach
product management and product governance.
The technology provides digital tools that banks are using to
create, manage and monitor their products, Kore explained in a
statement. This enables banks to digitise the management and
governance of their products across the product lifecycle,
bringing greater transparency to processes, and a lot of data
that enhances business decision-making.
By reducing its manual processes, Weatherbys will be able to
manage and reduce risk across the business more effectively, Kore
said. Kore’s platform functionality will enable Weatherbys to
create fully-digitised audit trails of product management
activities and key metrics for senior management. This
digitisation and the data it generates will enable Weatherbys to
boost the product risk management of their offerings, both
existing and new, Kore added.
Welcoming the move, Sabrina del Prete, CEO, Kore, said: “We
are thrilled that, as a family-owned bank that has always put its
clients first, Weatherby's is making Kore instrumental to its
customer-centric approach to product management.”
“As the banking industry embraces the incoming consumer duty
rules, effective product management and product governance will
play a critical role in complying with the regulations,” she
added.
Headquartered in the UK, Kore has a customer base in the UK and
Europe, and has been awarded two government grants recognising
its “potential to have a game-changing impact on the UK economy.”