WikiKore Prototype V2: AI-enabled & community curated taxonomy for the financial service industry (FSI)

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A key obstacle to transparency, governance and fairness in financial markets is the technical language used by the financial industry, which is non-standardised, beset with complex terminology, jargon and ambiguity, often incomprehensible to consumers.This project will prototype and test 'WikiKore', a game-changing innovation that will enable more sustainable, effective, inclusive and considered financial markets.WikiKore is the first-ever all-encompassing digital encyclopaedia of taxonomy for the financial industry which is set to drive global product governance in financial services and overcome the key technical challenge of standardisation of technical language. This will set a new state-of-the-art standard for efficiency and transparency in financial markets whilst directly addressing the aims of global regulators to achieve best outcomes for consumers and businesses worldwide.This project is led by the award-winning team at **Kore Labs**: 'Most Innovative Digital Product Governance SaaS Solution 2021'-Wealth and Finance International, led by CEO Sabrina Del Prete: 'Innovate Finance Women in FinTech Powerlist' 2020, 2021 & 2022\.Funding will enable the established team at Kore Labs to build on the "WikiKore Concept" work completed in an IUK-funded project (10004689) in December 2022\. The "WikiKore Concept" involves the use of collaboratively created & curated open data sources that can be orchestrated and federated (similar in approach to Gaia-X) to enable interoperability and standardisation in complex data sets.Based on the "WikiKore Concept" and WikiKore MVP, Kore Labs has been selected by:1. The Investment Association (IA), trade body for UK investment managers, to participate in their 2022 fintech innovation accelerator, and2. The Financial Conduct Authority (FCA) for their 2023 Innovation cohort.In the medium-term, Kore will pass ownership of the Opensource Content of WikiKore to a not-for-profit organisation, ensuring neutrality and trust.