Development of a centralized platform for product data services that can distribute critical data securely, enforce governance, scale with business needs, and integrate smoothly with downstream applications.
Client
A large NY-based life insurance and investment services provider
Goal
Create a unified, scalable architecture for secure, standardized sharing of data with downstream services
Tools and Technologies
Java 21, Spring Boot, AWS, Jenkins, Stonebranch, Jira, Microservices, Redshift, Aurora, DynamoDB, Angular, JS, MYSQL, EKS, SQS
Business Challenge
The client used a product data mart that lacked a secure, standardized method to share data with downstream services. This affected data governance and consistency across applications. It also faced the risk of disrupting tightly integrated legacy data flows while shifting from a legacy PACE system that supports critical AEM microservices to a PDP mart.
It needed a new system that is scalable, and the modernization process had to be carried out with minimal disruption to existing systems.
Solution
Implemented a dual-solution strategy to modernize data access and delivery. Key elements included:
- Built a microservices-based platform and deployed on AWS
- Enabled secure, flexible API access to the product data mart using tagged identifiers
- Ensured a scalable design with minimal code changes for expansion
- Allowed existing AEM microservices to operate without changes during and post-transition
Outcomes
- Improved efficiency and security by enabling standardized, governed access to product and entity data
- Achieved faster delivery and reduced manual effort
- Ensured seamless integration while modernizing the backend
- Maintained front-end stability of AEM microservices
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Modern insurance platform for loan processing
Platform modernization with system integration, functional enhancements, and UI transformation, helps streamline processes, minimize duplication, deliver strong ROI and grow customer retention by a projected 50%.
Client
A large NY-based life insurance and investment company
Goal
Modernize product data management services to enhance loan processing and improve user experience
Tools and Technologies
Angular 15, .Net 4.8, .NET 8.0, AWS EC2, SQL Server, PostgreSQL, Stonebranch, SharePoint, IIS
Business Challenge
The client operated a critical legacy application for loan processing, which had significant operational inefficiencies and shortcomings in user experience. It hindered the speed and accuracy of loan disbursements, affecting both internal operations and customer satisfaction.
The goal was to modernize the platform with scalable solutions that could enable secure distribution of critical data and better governance, while integrating smoothly with downstream applications.
Solution
- Implemented a holistic modernization approach with a focus on system integration, functional enhancements, and UI transformation
- Streamlined deal creation and approval through a third-party system with robust verification and compliance features
- Enabled multi-loan support under a single deal
- Ensured consistency by introducing a standardized component library with reusable UI components
- Revamped the interface with intuitive design, responsive layouts, and improved user experience
Outcomes
- Enhanced efficiency, scalability, and user-centric loan operations
- Improved ROI through greater efficiency, better user experience, and agility
- Reduced verification effort by 30–55% and enabled focus on higher-value tasks
- Streamlined processes and minimized data duplication
- Ensured consistent design and efficient development
- Increased customer satisfaction, with a projected 50% rise in retention
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Move to Singularity platform benefits insurer
Modernizing multiple legacy accounting systems into a unified AI-powered cloud platform achieves new levels of scalability and intelligent reporting.
Client
Large NY-based life insurance & investment company
Goal
Modernize multiple legacy accounting systems to achieve operational efficiency, scalability and improved data analytics
Tools and Technologies
Python, Oracle, SQL Server, AWS Server, Jira, Stonebranch
Business Challenge
The insurer sought a comprehensive cloud-based solution using modern infrastructure and automation to address key challenges. The Singularity platform was selected to integrate investment data from multiple accounting systems, including SS&C CAMRA, Blackrock, IDCFX, Mackay, and Marked Price, into a unified solution. The project aimed to modernize the insurer’s legacy Debt & Derivatives system, which was limited in functionality, lacked scalability, and hindered business growth due to its outdated, on-premises infrastructure.
Solution
- Seamless integration of data into and out of the Singularity platform enabled streamlined operations
- Stonebranch Universal Automation Controller on AWS was leveraged to automate and schedule data extracts, ensuring timely and reliable data availability
- Robust data integrity checks were embedded throughout the pipeline to maintain high-quality outputs
- Tableau was integrated to deliver interactive dashboards, enabling data-driven decision-making across business functions
Outcomes
- The solution delivered greater scalability, system reliability, and data accuracy
- The streamlined data ecosystem significantly enhanced overall user experience
- Unified data and interactive Tableau dashboards established a single source of truth, supporting more informed business decision-making
- The modernized platform enabled the generation of complex business-critical reports that were not possible with the legacy system
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Event partner at Open Banking Expo Canada 2025
Event partner at Open Banking Expo Canada 2025
Canada’s open banking future is taking shape, and the Iris team is right there, contributing to the momentum.
We are proud to be an event partner at Open Banking Expo Canada 2025, contributing to key conversations on how API ecosystems are reshaping the future of financial services. Connect with our team at the expo on June 17, 2025, at the Metro Toronto Convention Centre in Ontario, Canada.
Iris Software is focused on bringing value and transformative technology to leading global banks and financial services (BFS) providers, including those in the personal banking and payments sectors.
Subramanian Viswanathan, Associate Vice President, Financial Services Practice at Iris Software, will moderate a Powerhouse Debate titled ‘Open Banking & API Banking: Unlocking the future of financial services’ with leaders from BMO, TD, RBC, and Scotiabank. “The future of financial services lies in building connected ecosystems where data moves securely, and value moves instantly.” - Subramanian Viswanathan.
For decades, Iris has accelerated the digital transformation journeys of major global and Canadian banks and financial services and payments enterprises. Connect with our experts to learn how our solutions in AI / ML, Application Modernization, Automation, Cloud, Data Science, DevOps, Enterprise Analytics, Integrations, and Quality Engineering improved clients’ data quality, reliability and scalability; platform and systems efficiency; user interfaces and experiences; insight extraction and decision-making; and regulatory compliance.
For more information on the benefits of our future-ready solutions, visit Iris Software Banking and Financial Services.
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Get in touchJoin us for Reuters Future of Insurance USA 2025
Join us for Reuters Future of Insurance USA 2025
Meet our Insurtech expert at FOIUSA 2025, where AI, data analytics, and digital transformation are a top focus for insurers and Iris Software.
Reuters Events hosts this year’s annual Future of Insurance USA Summit on June 12-13, 2025, in Chicago, Illinois. The theme is Rebuild Trust at the Top, with a focus on the value that AI-powered tools, customer-centric products, and strategic collaborations can bring to insurers in all sectors of the industry. The emphasis on these topics are driving 500+ insurance leaders, innovators, and top technology providers like Iris Software to participate in the Summit.
Abhineet Jha, Senior Client Partner, will represent our Insurtech Team at the event.
Four main topic areas will be addressed in the presentations and networking discussions in support of the theme of the 2025 FOI Summit:
- Technology Innovation and Transformation, focusing on AI and Data Analytics
- Risk Management, including cyber threats and regulatory compliance
- Customer Experience, developing seamless UX, personalization, and enhanced communications
- Industry Collaboration, building strategic partnerships
These areas are a top focus of the Insurtech services and solutions that Iris successfully provides to leading carriers in property, casualty, specialty, and life and annuity insurance.
Discuss the evolving insurance landscape, Insurtech innovation, and your technology priorities with Abhineet Jha, our seasoned insurance expert, at Reuters Future of Insurance USA 2025. Learn how insurers are partnering with Iris and applying our solutions in AI/ML, Application Modernization, Automation, Cloud, Data Science, Enterprise Analytics, and Integrations to advance their digital transformation goals.
You can also contact our team and read more about our InsurTech Services and Solutions and successes in future-proofing insurance enterprises here: Insurance Technology Services | Iris Software.
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Get in touchMeet our team at the Payments Canada Summit 2025
Meet our team at the Payments Canada Summit 2025
Banking, financial services and payments technology experts, Subramanian Viswanathan, Mehul Shah, and Suneela Katikala, are attending this year’s Summit in Toronto.
The 2025 Payments Canada Summit, themed Innovate-Collaborate-Transform, is May 6 - 8 at the Automotive Building in Toronto, Ontario. This forum is considered Canada’s premier payments event, bringing together more than 1,900 participants to discuss innovation, challenges and opportunities in this dynamic global industry. Financial institutions, payments and technology service providers, retailers, monetary and regulatory professionals will connect, learn, and share ideas through presentation and networking sessions. The key topics relate to improving outcomes in digital payments, consumer experiences, risk and fraud mitigation, cross-border and other payments policies.
Connect with three of our banking and financial services (BFS) technology experts at the Summit to discuss digital transformation and payment system modernization: Subramanian Viswanathan, Associate Vice President, Mehul Shah, Associate Director, and Suneela Katikala, Senior Client Partner.
The advanced technologies that Iris delivers – across AI / Generative AI, Application Development, Automation, Cloud, DevOps, Data Science, Enterprise Analytics, and Integrations - are driving innovations in the payments sector every day. Our experienced global team helps financial institutions and payments providers enhance operations, security, scalability, cost-efficiency, and compliance in the myriad platforms, processes and systems supporting their domestic and international payments transactions. Iris has served BFS clients for more than 30 years and was named a Leader in BFS IT Services by Everest Group in its PEAK Matrix® Assessment 2025. Iris is also PCIDSS 4.0-certified to ensure robust cyber security and compliance for our clients involved in payment card processing or that store, process, or transmit cardholder data and/or sensitive authentication data.
Contact our team at the Summit or anytime at Iris Software Banking and Financial Services to learn more about our future-ready technology solutions. You can also read our Perspective Papers for insights on Real-world Asset Tokenization, leveraging Generative AI for Asset Tokenization and the state of Central Bank Digital Currency.
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Get in touchJoin us at the InsurTech Hartford Symposium
Join us at the InsurTech Hartford Symposium
Learn how our innovative technology solutions help insurers future-proof their enterprises.
The InsurTech Hartford Symposium 2025 is April 29 and 30 at the Connecticut Convention Center. The focus of the forum’s numerous speakers, sessions, and attendees is on innovation, and how it’s driving digital transformation and growth in the insurance industry.
As most insurers’ strategic objectives include the improvement of product line innovation, personalized customer experience, operational efficiency and security, and compliance and risk management, partnering with experienced technology service providers like Iris Software is critical to their business success.
At the Symposium, insurance leaders and innovators can meet Venkat Laksh, Senior Client Partner and seasoned InsurTech pro, to learn how insurers are applying our advanced software engineering solutions, in Application Development, Automation, AI / Generative AI, Data Science, Enterprise Analytics, and Cloud, to modernize tech infrastructure, optimize business competencies and secure their digital futures.
Connect with Venkat at the InsurTech Hartford Symposium 2025 for beneficial conversation on the latest InsurTech innovations and trends. You can also contact Venkat and our InsureTech team and get more information about our InsurTech solutions and services here: Insurance Technology Services | Iris Software.
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Get in touchEverest Group Names Iris Software a Leader in BFS IT Services
Everest Group Names Iris Software a Leader in BFS IT Services
We are proud to be recognized as a Leader in the Banking and Financial Services IT Services Specialists PEAK Matrix® Assessment 2025 by Everest Group, the first-ever for this category and for Iris!
Iris is proud to be recognized as a Leader in the inaugural Banking and Financial Services (BFS) IT Services Specialists PEAK Matrix® Assessment 2025 by Everest Group. This assessment is the first-ever for this category, and for Iris!
We were evaluated along with 29 other BFS IT service providers on our market presence, value delivery, strategic vision, innovation, technical capabilities, functional knowledge, and buyer references.
Pranati Dave, Practice Director, Everest Group, stated, “Iris Software’s expertise in capital markets and risk and compliance transformation, combined with a skilled talent pool and a strong reputation for execution, continues to drive its success with top-tier financial institutions. Clients have consistently recognized Iris for its low attrition, engineering rigor, and collaborative delivery model. Its investments in ML Ops, AI/ML, and modernization of cloud-based data and risk platforms have helped Iris earn a Leader recognition on Everest Group’s inaugural Banking and Financial Services (BFS) IT Services Specialists PEAK Matrix® Assessment 2025.”
Sunil Puri, President, Iris Software, stated, “We are honored to be named a Leader in BFS ITS by Everest Group. During our more than 30 years of growth in the BFS and other sectors, including Capital Markets & Investment Banking; Brokerage, Wealth & Asset Management; Commercial & Corporate Banking; Risk & Compliance; Retail Banking & Payments; Anti-Money Laundering & Know-Your-Customer; Insurance; Manufacturing; Logistics; Life Sciences and Professional Services, we have been a long-term partner in our clients' transformation journeys - helping to build, integrate and modernize complex platforms, systems, and applications.”
When IT matters most, clients call upon Iris to provide mission-critical software engineering and advanced application development services across AI/Generative AI, Automation, Cloud, Data & Analytics, Integrations, DevOps and Quality Engineering.
We remain steadfast in our vision of being our clients’ most trusted technology partner and thank our associates for their dedication and innovation.
Learn more about our BFS services, value proposition and client success stories and contact our team today.
Disclaimer
Licensed extracts taken from Everest Group’s PEAK Matrix® Reports, may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group’s PEAK Matrix® reports do not necessarily provide the full context of our research and analysis. All research and analysis conducted by Everest Group’s analysts and included in Everest Group’s PEAK Matrix® reports is independent and no organization has paid a fee to be featured or to influence their ranking. To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix® Reports.
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How tech can transform user experience in banking
All-round modernization with digital payment upgrades delivers greater flexibility, and enhanced security and speed.
How tech can transform user experience in banking
All-round modernization with digital payment upgrades delivers greater flexibility, and enhanced security and speed.
Retail Banking &
Payments Experience
Modernizing Payment Systems for Real-time, Data-rich Transactions
ISO 20022-compliant payment infrastructure with real-time integration to enable faster, data-rich clearing and settlement
Intelligent Cross-channel
Payment Orchestration
A unified payment orchestration engine to handle diverse payment types, validate transactions, and process cross-border and domestic payments seamlessly. Simplified channel-product integration through transaction management layers
Enhanced Payments Security
and Compliance
In-sourced AML sanctions screening and robust risk management solutions, ensuring secure, compliant, and seamless payment processing across all transaction types
Expanding Digital Payment Modes
in E-commerce
Leveraging Account-Based Payments (ABP) and customizable Buy Now, Pay Later (BNPL) workflows to provide seamless, intuitive, and flexible payment options, prioritizing convenience and enhancing customer experience
Optimizing Transaction Processing and Reporting
API-driven solutions supporting diverse payment formats, multi-currency transactions, and data integration with advanced on-demand reporting capabilities designed to enhance user experience and ensure compliance
Customer-centric Innovations
in Loyalty and Lending
Personalized experiences through micro-app-based loyalty programs offering tailored rewards and recommendations. API-led automation of broker-led mortgage processes, reducing account creation time by 95%, and driving higher customer satisfaction
Value We Provide
Strategic Expertise in Retail Banking and Payments
Deep domain knowledge and a proven track record in transforming retail banking and payments systems that optimize business operations, enhance customer experiences, and meet your unique business needs.
Innovative Technology
and Scalable Solutions
Cutting-edge, scalable solutions that are resilient, flexible, and seamless, empowering your organization to drive growth, enhance agility, and maintain a competitive edge in a rapidly evolving market.
Collaborative Approach for Sustainable Growth
A partnership model grounded in collaboration and agility, ensuring alignment with your strategic goals at every stage, while co-creating future-ready solutions that drive sustainable growth.
Client Success Stories
How Gen AI can enhance software engineering
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Integrated smart solutions strengthen AML & KYC processes
Financial institutions are empowered with AI and Big Data tools for global due diligence.
Integrated smart solutions strengthen AML & KYC processes
Financial institutions are empowered with AI and Big Data tools for global due diligence.
Anti-Money Laundering &
Know-Your-Customer Experience
Scalable Big Data Platform for
Financial Surveillance
Hadoop-based AML data ingestion platform processing petabytes of data globally, equipped with built-in capabilities for data quality, lineage, reconciliation, and standardization
Risk-driven Transaction Monitoring
and Integrated Case Resolution
Risk-based transaction-monitoring models for global cards and markets businesses, utilizing big data for suspicious activity detection. Integrations for seamless case management, investigation, and resolution
AML 360 Workbench for Advanced
Visualization and Monitoring
Centralized workbench leveraging machine learning, RPA, NLP, graph databases, and advanced analytics to enable 360-degree monitoring of parties and transactions, enhancing compliance and fraud detection
Platform Consolidation and
Modernization for Efficiency
Significant cost benefits through reduction of Mantas instances while upgrading to newer versions and eliminating point-to-point data flows
Hyper Visualization and
Precision in AML Operations
AML visualization hubs with advanced dashboards for real-time insights and cross-region collaboration. AI/ML-powered models to enhance alert accuracy and reduce false positives and negatives, enabling more effective investigations
Unified KYC for
Robust Compliance
Transition to a unified KYC framework, standardizing compliance processes across geographies and lines of business with automated real-time risk ratings, streamlined client onboarding, monitoring, and analytics
Value We Provide
Strategic Expertise in
AML & KYC
Deep industry expertise and proven track record in transformative solutions for effective risk management, regulatory compliance, and operation efficiency while minimizing financial crime and fraud exposure.
Data-driven Insights for
Smarter Compliance
Advanced analytics, machine learning, and big data help unlock powerful insights for more intelligent decision-making.
Future-ready Technology for
Scalable Growth
Technology foundation built on cutting-edge tools and modern data infrastructure, providing the flexibility and scalability needed for growth.
Client Success Stories
How Gen AI can enhance software engineering
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