Iress, a financial software provider serving the wealth management sector, has announced a strategic partnership with global technology consultancy Thoughtworks to accelerate the modernisation of its core platforms and drive AI-enabled growth across its Wealth businesses.
The collaboration is intended to help Iress simplify its technology architecture and develop new growth capabilities, with clients expected to start seeing the benefits during the second half of 2026.
The arrangement brings together Iress’ market expertise and product intellectual property with Thoughtworks’ strengths in technology advisory, engineering, cloud and AI. The partnership aims to deliver accelerated product innovation, greater operational efficiency and a more scalable, client-focused platform. It is also designed to hasten Iress’ move towards an AI-enabled, modular architecture, with development spending maintained within a disciplined R&D capital envelope of 5–7% of revenue.
Iress group CEO and managing director Andrew Russell said: “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, beginning with Xplan, while staying focused on what clients value most about our software: reliability, usability and the depth and flexibility needed to support complex advice.”
Iress UK CEO Alistair Morgan said: “In the UK, we’re seeing a clear shift from firms ‘simply’ acquiring businesses to focusing on how they integrate and scale those businesses effectively and at pace. This investment in platform modernisation strengthens our role as the engine behind that consolidation, giving firms the infrastructure they need to simplify operating models and deliver consistent client outcomes at scale.”
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