The latest technology news in the wealth management sector from around the world.

Kore
Kore, the RegTech Software-as-a-Service (SaaS) platform, which enables large financial institutions to fast track regulatory compliance, has raised just under £2.4 million ($3.05) from Wealth Club members under the Enterprise Investment Scheme (EIS) in a heavily oversubscribed round.

Kore provides an easy-to-use, cost-effective compliant solution which helps financial firms harness complex and fragmented data, bringing it together to create a digital audit trail across all products and functions in one place. Wealth Club claims that Kore is the only industry solution providing true regulatory oversight for senior managers, across product management tool for specialists, and an intuitive product hub for frontline users, the firm said in a statement.

Kore serves a blue-chip customer base, including major banking groups in Europe, and is poised for expansion into new markets later this year. The company has been revenue-generating since its launch in 2019 and has doubled revenues year-on-year with a recurring business model that enables scalable, profitable growth.

The UK financial services industry is facing one of the biggest regulatory shake-ups in years following the introduction of the FCA’s Consumer Duty – see commentary here. This drastically impacts how regulated firms operate, requiring them to provide a full audit trail of the entire life cycle of every financial product offered. Kore, which is designed to meet these requirements, says it is the first dedicated SaaS platform for end-to-end product lifecycle management in financial services.