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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.”