105740Kore: a world-first PRM (Product Relationship Management) platform for Financial InstitutionsClosedStudyInnovate UKFinancial institutions (FIs) manage a large number and a wide variety of products, e.g. credit cards, investment funds, pensions etc. The number and diversity of products managed is increasing as new products are added. Products have long lifecycles, and FIs are constrained in their ability to retire legacy products. The industry faces increasing regulatory requirements to: document product development and monitoring processes ensure that these processes are consumer-centric, e.g. identify and document a target market evidence that senior managers have oversight of all product being distributed (by the end of 2019 this will be subject to a personal liability clause if the senior manager fails in this duty) In short, the volume and complexity of financial products' records are increasing. Current product management platforms are product specific and focused on managing the operational aspects, e.g. making payments, managing risk, etc. This causes an inconsistent approach and oversight to product management with a substantial impact on FIs' productivity and on wider society too (as it is a major contributor to poorer outcomes and value for consumers). As such, there is a strong demand for a platform to support the management of products in a consistent and regulatory compliant way. In other words, a platform that: establishes a single "golden source" of product information creates a "one-view" of products in a single product hub, with no silos captures and retains the history of a product, from idea generation to retirement allows staff to interact with products readily and supports their activities, simplifying product related tasks and reducing manual process We aim to create such a financial product lifecycle management platform. Our first step is to create a prototype which delivers the major components for a single product family, namely investment funds. Our team are experienced financial product practitioners with more than 70 years' collective experience. Our solution can bring substantial benefits to the financial services industry and, most importantly, to customers around the world.