WikiKore: a world-first, online, open-content, AI-powered encyclopaedia of product taxonomy for the global financial markets

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Since the financial crisis in 2008, product governance has been identified as the weak link in the financial services sector and as an area that needs to be completely redefined.Despite formidable progress in terms of regulations and processes, digital end-to-end product governance is still in its infancy. Many financial technology companies have addressed specialised aspects of product governance, but financial institutions still rely heavily on manual processes to provide a 360-view of the lifecycle of their products.With our first-to-market AI-powered SaaS solution for product governance in financial services, we are turning the issue of product governance on its head. We do not digitise product governance processes; we embed good practices and AI-based tools throughout a digital environment for product lifecycle management so that robust governance becomes an inevitable by-product. Crucially, we build corporate memory, with product events and historical information retrievable at the touch of a button and stored in a uniform format.**We believe that digital transformation does not need to be difficult.** Our solution is fully configurable and modular, each module is self-standing and can be added over time, therefore implementation can be staggered. No big-bang data migration is required to use Kore and there is no need to update existing data sources. We do not require heavy system integrations to function. Our digital layer collects information and provides insight whilst sitting above legacy systems. We have the flexibility to integrate with existing applications and services, and with external systems and data providers.**Our approach to product data is unique.** We consider financial products not as a set of technical features, but as the result of a broad set of events, processes, decisions, people's actions and, most importantly, client needs. We collect and analyse data around all these categories throughout the entire product lifecycle with our open content, AI-powered online encyclopaedia, WikiKore. No other company in the market collects such a dynamic and rich set of product data with the purpose of improving the industry from within.**We use the latest applications of AI to power our application.** Kore develops proprietary AI algorithms, as well as establishing partnerships with research organisation and technology companies, specifically designed to drive seamless user interactions, brand-new insight and predictive analysis with the purpose of improving product governance for the financial service industry.