Thoughtworks to modernise core platforms of Iress

Global tech consultancy Thoughtworks has partnered with Iress, a software provider to the financial services industry, that will see Thoughtworks modernise the company's core platforms, simplify its technology architecture and allow for what the partners call ‘AI-enabled growth’ across Iress’ wealth business.

By leveraging Thoughtworks' customer experience and product design (CXPD) capabilities alongside its agentic development platform, AI/works, the collaboration aims to accelerate Iress’ transition to an AI-enabled, modular architecture.

The partnership focuses on four key areas, including operational excellence, client-led product innovation, targeted platform modernisation, and data and AI-driven value creation.

This includes designing and delivering data-driven features that reduce manual effort, improve adviser productivity, and support new revenue opportunities for wealth providers, as well as applying a staged, modular approach to application modernisation to avoid high-risk, large-scale replatforming.

“By working with a partner that brings world leading thinking in software design and AI-enabled capabilities, we are accelerating how we evolve our core platforms,” said Andrew Russell, group chief executive and managing director at Iress.

“Our partnership with Thoughtworks is a deliberate step to accelerate Iress’ strategy through modernising our software and embedding practical, ROI-led AI capabilities. It strengthens our ability to deliver better outcomes for clients, while driving faster innovation, improving the speed of delivery and reducing the cost to serve. It also positions Iress to capture long-term growth opportunities in global wealth management."

"We are proud to partner with Iress to accelerate their transformation into a modern, AI enabled software platform,” said Wayne Te Paa, MD of banking, financial services and insurance for APAC at Thoughtworks.

“By combining our strategic tech advisory and CXPD expertise with our agentic development platform, AI/works, we’re bringing Thoughtworks’ modern product and AI capabilities together with Iress’s strong market position and data assets. In doing so, we’re helping build an engine that transforms how wealth advisers engage with their clients.”