Brokerage & Wealth

Brokerage platform transformation achieves superior UX

A monolithic registered investment advisor (RIA) platform transformed into microservices helps a leading brokerage firm achieve enhanced operations and user experience.

Client
A leading U.S. brokerage firm with $1+ trillion in assets and serving 6,000+ RIAs
Goal
Resolve online platform accessibility, functionality and timeliness issues
Tools and Technologies
Angular 9, Jenkins, Pivotal Cloud Foundry, Oracle, Kubernetes, Spring, Docker
Business Challenge

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 The high cost of owning and maintaining outdated technologies and time-to-market for new features were adding to the business challenges.

Solution

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.

Outcomes

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%
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