Client’s existing brokerage platform supporting over 6,000 Registered Investment Advisors (RIAs) and containing information about assets valued at more than $1 trillion had accessibility issues. The high cost of owning and maintaining outdated technologies and time-to-market for new features were adding to the business challenges.
Iris transitioned the client’s monolith applications to microservices to transform the RIA platform. An open-source, cloud technical stack was leveraged to develop a single-page, micro-UI-based application. BFF (Backend for Frontend) design was applied, and Angular 9 was used to achieve superior compatibility on mobile devices.
Widgets were introduced to enable seamless transitions within third-party applications. Consolidated user views were created to track assets and their performance for a unified experience for the RIAs.
The RIA platform transformation enabled the client to achieve significant functional enhancements, including:
- Fully functional mobile views
- 100+ integrated third-party applications
- Instant and seamless access to client accounts
- Downtime for hot deployments of fixes brought to zero
- Technical debt decreased by 45%
- Release timelines shortened by 80%
- Issue resolution time reduced by 90%