KORE

Use cases

Use cases

The Kore platform enables multiple stakeholders across teams to collaborate efficiently and seamlessly to manage products and maintain an audit trail for regulatory purposes.
Product governance officer >

Jane is in charge of managing the approval of new products.
The process involves most of the team in the bank and several stakeholders.
It includes multiple steps and activities while also producing reports for forums, senior management and the regulators.
All documents need to be recorded and easily retrievable.
 
Pain points
Complex processes, highly manual and excessively long.
Activities are time-dependant; some are conditional to permissions.
Multiple stakeholders require multi-party communications and chasing
Without an audit history, it is difficult to control shared documentation and retrieve information.
 
With Kore
All steps of the process are digitised with a customised workflow that supports her activity
Files are kept in one place and accessible according to pre-defined permissions
Chasing/responses are automated with alerts and notifications
Contributions from stakeholders are audited and reporting is pre-set
Product manager >

Mario maintains several data folders, publishes information and answer queries daily.
He fills in the Product Review database and contributes to New Product Approval Processes.
Mario provides reports for Pricing Committees, senior management and regulators.
Colleagues in risk and compliance that manage some of the product’s processes need to keep Mario updated.
 
Pain points
Maintaining multiple data containers concurrently causes delays and risk of inconsistencies
Reporting requires manual processes, which are time-consuming, whilst tasks are difficult to prioritise, delegate and record.
Mario is not always kept up-to-date with changes made by colleagues
Without an audit history, Mario cannot control shared documents.
 
With Kore
Mario has a dedicated product site for each product he manages
Customisable dashboards and task management tools help Mario simplify and structure his tasks
Documentation is posted once and shared in a centralised and controlled manner
Pre-defined permissions allow colleagues to contribute, whilst keeping a clear audit history.
Senior manager >

Stephen is responsible for hundreds of products currently offered to retail and commercial clients in his area, and other products that are retired but still active.
The regulator expects Stephen to have a real-time handle on all products.
Stephen receives daily reports from a team of analysts.
 
Pain points
Stephen finds it difficult to readily access information when out of the office
He cannot access aggregate information independently and relies on others to summarise the information
Stephen cannot use AI for patterns and predictions, which could help reduce risk.
 
With Kore
He can build his own customisable interface, accessing it on the move and changing it without external support.
Stephen can access information independently and in real-time
He can also use predictive analytics to get early warning signs of risk events
Client relationship manager >

Louise’s client needs are complex; she must identity the correct fund among hundreds.
She is unclear on whether the latest pricing amendments have been included in the term sheets.
Louise needs to understand any restrictions and cross border rules that may apply.
A client can require lending on a fund and she may need to determine the correct LTV.
 
Pain points
Louise is unsure if she’s considered the full suite of products, thereby risking a miss-sell.
She does not trust that the documentation’s pricing is up-to-date
Louise is unclear on cross-border rules and needs to involve a risk officer
She needs to access the lending systems to calculate the relevant LTV
 
With Kore
Louise can use filters to identify the fund that best meets her client’s needs, and record this search.
All pricing information is up to date and Louise can trust the information displayed
She can filter products by client needs and regulatory restrictions
Cross-border tools and LTV calculators are included in the fund page

Ready to take your organisation to the next level?