Digital Digest: The Latest Tech News – Fundipedia, Kore Labs
The latest technology news in the wealth management sector from around the world.
Fundipedia, a London-based firm that provides data software and consultancy to the investment management industry, is partnering with Kore Labs. UK-based Kore provides digital solutions for product governance for banks, investment managers and insurers.
Under the arrangement, Fundipedia’s enterprise fund data management solution will be integrated with Kore’s product governance and end-to-end digital lifecycle management platform.
Linking these platforms enables investment managers to manage product design, creation, reviews, and changes efficiently and effectively, the firms said in a statement yesterday.
Firms must work harder to stand apart from their competitors because of regulatory pressures, including Consumer Duty and upcoming reporting obligations such as PRIIPs. Against this background, accelerating the product development pipeline delivers significant business benefits, the firms said. (“PRIIPs” stands for packaged retail and insurance-based investment products.)
“Partnership with Kore makes a huge amount of sense for our investment manager clients. By combining the intelligent digital lifecycle that Kore creates to manage product decisions, with the data and workflow capabilities in Fundipedia, our clients gain total end-to-end oversight and control of their products, from ideation to downstream dissemination. This is a win for both our clients and their customers. Providing a simplified way to meet multiple regulatory demands,” Simon Swords, managing director of Fundipedia, said.
Sabrina Del Prete, founder, and CEO at Kore Labs: “For most asset managers, bringing products to market is a complex process that often results in information gaps and inefficiencies. Delivering a robust, auditable trail of all decisions made from product conception to retirement is particularly challenging due to the long product shelf-life, vast amount of data, and multiple teams involved. This is coming into even sharper focus with the requirement to meet the new Consumer Duty regulations.”
(The UK’s new Consumer Duty rule stipulates that consumers should receive communications which they can understand, products and services that meet their needs and offer fair value, and have the customer support they need, when they need it. Source: Financial Conduct Authority.)