IRESS tipped to win 80% of wealth management market
Morningstar has high hopes for listed technology provider IRESS and anticipates the group’s wealth management software business to increase its market share significantly, driven by strong demand for holisitc financial advice. In a research noted released this week, Morningstar analyst Gareth James notes that the share price of IRESS has fallen 21 per cent over the last 90 days, despite the lack of trading updates since the group posted its interim results last August. Over the first half of FY18, IRESS delivered a strong result with group segment profit up 11 per cent and operating revenue up 6 per cent compared to 1H17. Morningstar’s Mr James believes the weaker share […]
IRESS expands open integration approach for XPLAN
IRESS has announced that clients will be able to easily allow third party software providers to directly access and integrate with XPLAN. The announcement is part of IRESS Open, which will see IRESS expand the number of integrations available to clients by making access to IRESS’ existing APIs simpler and easier. Under IRESS Open, clients will be able to integrate XPLAN with third party applications in two ways: Standard integrations – a new approach where clients can directly engage with third party providers and integrate XPLAN to a third party application simply and directly. These integrations will facilitate the transfer of data with the third party application, rely on a […]
IRESS releases automated personal advice solution and announces implementation with WA Super
IRESS has today announced a new automated personal advice solution allowing super funds to service members wanting superannuation advice digitally. The multi-advice, multi-channel solution, drawing on information within the fund registry, allows members to set their retirement objectives, review projections and then make choices to optimise their retirement outcomes. Members are provided with a statement of personal advice and can choose to action the recommendations using the solution and monitor progress. Members can also receive automated personal advice for wealth protection, savings and debt management. WA Super has become the first superannuation fund to implement the solution to deliver a personal advice service for retirement planning through its online member […]
IRESS launches its next-generation client portal to meet core client servicing needs
Financial technology business IRESS today announces the launch of its next-generation client portal with a clear focus on engagement. The new client portal, available now through IRESS’ market-leading financial software solution XPLAN, provides a contemporary, simple to use, front-end solution for businesses to engage their clients in a range of services digitally. IRESS product executive, Emily Chen said, “Today’s financial services businesses, including advice businesses, need to deliver a professional and personalised digital experience to their clients, offering an accurate perspective of their investments and financial life. Our new client portal provides a secure and straight-forward way for clients and financial professionals to engage and communicate with each other 24/7 […]
Xinja first to use innovative IRESS home loans platform in Australian market
Xinja has moved a step closer to delivering speedy, paperless home loans with the confirmation of its ongoing engagement with IRESS to process Xinja home loans. IRESS specialises in building technology for the financial services industry and the partnership provides Xinja with a home loan workflow platform that delivers fast decisions for consumers supported by IRESS technology. IRESS is a market leader in the UK, where one in every four home loans are processed using IRESS technology. Xinja is not yet a bank, but is building an independent, 100% digital bank – or ‘neobank’ – for Australians, designed entirely for mobile. It will offer a radically new banking experience built […]
IRESS opens software design to users through IRESS Labs
Financial technology business IRESS today announced a new initiative, IRESS Labs, that means more users of its software will be able to input directly into the design and development process and use future functionality in advance of general release. IRESS Labs is now available to users through the latest version of XPLAN and will be used in additional IRESS products over time. Through IRESS Labs, more users are actively sharing their opinions, experience and insight on what matters to them and their clients. This feedback is being directly used to create functionality for all users. Financial advisers test and provide feedback on prototypes during a development phase, before co-designed features […]
IRESS dismisses Intelliflo threat, ups AI investment following royal commission
Financial software company IRESS has dismissed the threat of new market entrant Intelliflo, with chief executive Andrew Walsh saying the local marketplace is already competitive and values IRESS’s independence. IRESS, which is valued at $2.1 billion and generated $430 million in revenue in the last financial year, is also making significant investments in artificial intelligence. About half of its 1800 employees are now part of its technology team, and this could increase on the back of the Hayne royal commission. “What we’ve seen in aspects of the royal commission is collecting data to respond to the commands of the commission has been a massive exercise for some businesses. But the […]
Britain’s Intelliflo expanding to Australia to take on IRESS
Britain-based wealth management software company Intelliflo is expanding to Australia and intends to aggressively pursue incumbent player IRESS’ customer base and dismantle the $2 billion company’s monopoly in Australia. Intelliflo, which is led by Australian Hamish Purdey, was recently acquired by global investment management company Invesco for an undisclosed sum, giving the business the resources to expand internationally. Intelliflo will continue to operate independently under its own brand as a wholly owned subsidiary of Invesco. “We’ve already had inbound inquiries from Australian businesses, as we have from other international companies too, who have seen us from afar and are keen to sponsor our entry to the market,” Mr Purdey said. […]
