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RegTech Platform Kore Secures £2.4 Million Funding for Regulatory Compliance Expansion

Recent Regulations & NewsRegTech Platform Kore Secures £2.4 Million Funding for Regulatory Compliance Expansion

RegTech platform Kore has successfully raised nearly £2.4 million through an oversubscribed funding round led by angel network Wealth Club under the Enterprise Investment Scheme (EIS). Kore’s software-as-a-service (SaaS) platform aids large financial institutions in expediting regulatory compliance. The platform creates a digital audit trail across all products and functions, offering regulatory oversight for senior managers, cross-product management tools for specialists, and an intuitive product hub for frontline users.

Since its inception in 2019, Kore has achieved consistent revenue growth, doubling year-on-year. The company foresees further expansion with the introduction of new Consumer Duty rules in the UK, which necessitate firms to demonstrate positive customer outcomes from their sales and marketing activities.

Kore’s leadership team boasts extensive experience in the financial sector. CEO Sabrina Del Prete previously held roles at Coutts Digital and Williams&Glyn, while Chairman Phil Smith was a global managing director at Barclays Wealth Management and founder of the Embark Group, which Lloyds acquired for £390 million last year.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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