Thoughtworks, a global technology consultancy integrating design, engineering and AI to drive digital innovation, today welcomed the announcement by Iress (ASX:IRE) of a strategic, multi-phase partnership between the two companies.
The partnership will support Iress in executing its strategy to modernize core platforms, simplify its technology architecture and unlock AI-enabled growth across its Wealth business.
Operating as a key enabler of this transformation, Thoughtworks brings its capabilities in technology advisory, engineering, cloud and AI to help define the next generation of wealth technology. By leveraging Thoughtworks' customer experience and product design (CXPD) capabilities alongside its agentic development platform, AI/works™, the collaboration will accelerate Iress’ transition to an AI-enabled, modular architecture, delivering more value to its clients, at pace.
“Our clients operate in increasingly complex and regulated environments, where speed, insight and efficiency matter more than ever. 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 CEO and Managing Director at Iress. “Our partnership with Thoughtworks is a deliberate step to accelerate Iress’ strategy through modernizing 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.”
As detailed by Iress, the partnership will focus on four priority areas:
Operational excellence: Complementing Iress' technology operating model to increase quality, improve delivery speed, and reduce complexity. With Thoughtworks’ strategic technology advisory, the partnership aims to ensure Iress’s technology operations continue to meet the standards expected of leading global software-driven businesses.
Client-led product innovation: Designing and delivering data-driven features that reduce manual effort, improve adviser productivity, and support new revenue opportunities for wealth providers. Thoughtworks’ customer experience and product design (CXPD) capabilities will help unlock new revenue streams in an evolving digital wealth industry.
Targeted platform modernization: Applying a staged, modular approach to application modernization to avoid high-risk, large-scale replatforming. Iress will pursue this rapid, targeted modernization while accelerating delivery through the use of Thoughtworks’ AI/works™ agentic development platform.
Data and AI-driven value creation: Embedding AI into the platform to unlock the value of Iress’s proprietary data. This will enhance decision-making and create new sources of value for customers as the advice landscape evolves.
"We are proud to partner with Iress to accelerate their transformation into a modern, AI-enabled software platform,” said Wayne Te Paa, Managing Director, 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.”
The partnership empowers Iress's global client base to move beyond legacy constraints. By providing financial institutions with the agility and AI-driven capabilities needed to scale, Thoughtworks and Iress are equipping their clients to lead the next generation of financial services.
Supporting resources:
Learn more about Thoughtworks’ Agentic Development Platform, AI/works™.
Keep up with Thoughtworks news by visiting the company’s website.
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About Iress
Iress (IRE.ASX) is a technology company providing software to the financial services industry. We provide software and services for trading & market data, financial advice, investment management, life & pensions and data intelligence in Asia-Pacific, North America, Africa, the UK and Europe.
About Thoughtworks
Thoughtworks is a global technology consultancy that integrates design, engineering and AI to drive digital innovation. We are over 10,000 people strong across 47 offices in 18 countries. For 30+ years, we’ve delivered extraordinary impact together with our clients by helping them solve complex business problems with technology and culture as the differentiator.
Media contact:
For Iress
Kelly Fisk
Chief Corporate Affair & Marketing Officer
Email: kelly.fisk@iress.com
For Thoughtworks
Justine Manche
VP, Brand and Communications
Email: justine.manche@thoughtworks.com
Michelle Surendran
Head of Public Relations for APAC and India
Email: michels@thoughtworks.com