Comprehensive solutions with seamless system integration

Agile, feature-rich and scalable API platforms to stay competitive, secure and compliant

Comprehensive solutions with seamless system integration

Agile, feature-rich and scalable API platforms to stay competitive, secure and compliant

Service Offerings

Value We Provide

Enabling Secure, Scalable and Resilient Operations

Our expertise and domain knowledge enable us to create agile platforms that deliver value across multiple parameters

Versatile Systems with Seamless Optimization

Our tech teams create holistic solutions that can be adapted across business volumes, regions and environments

Flexibility to Maximize User Experience

Our nimble approach allows clients to customize user features from smooth customer on-boarding to intuitive dashboards and complete life-cycle management

Success Stories

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    Anti-money laundering software saves $1M

    Anti-money laundering software saves $1M

    Banking

    Unified AML proves to be a game changer

    Global bank overcomes Anti-Money Laundering monitoring challenges and saves $1M in infrastructure costs with a unified front end.

    Client

    A top 5 global bank

    Goal

    Create a unified platform for anti-money laundering functions, analytics, and compliance implementations

    Tools and technologies

    Angular 5, Java, Open Shift, and DevOps

    BUSINESS CHALLENGE

    The client expanded its fraud and anti-money laundering (AML) monitoring functions, involving multiple lines of business and 15,000 employees. The scaled system led to the lack of standardization of frameworks and resultant adoption of disjointed, manual-intensive, and high-cost AML technology. The ongoing disconnect hindered the efforts of automating, consolidating; and implementing AML functions, enterprise analytics, and regulatory compliance efficiently throughout the organization.

    SOLUTION

    Iris optimized existing operations and technology investments by developing and implementing a unified point of access for the discrete AML functions, featuring micro-front-end architecture. Engineered to be horizontally scalable through containerization with common authentication and authorization gateways, the single user interface (UI) allows onboarding and control of multiple extended AML functions, including visualization of metrics.

    OUTCOMES

    The solution amplified efficiencies and reduced costs through the automated system and seamless exchanges of information. Significant outcomes included:
    • Hassle-free transition from multiple to a single UI
    • Unified, streamlined user experiences with more effective sessions
    • Creation of standardized deployment procedures for AML rules and applications
    • Saving of nearly $1M on infrastructure costs
    • Reduced infrastructure maintenance time
    • Frictionless migration of applications to the cloud

    Contact

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    How to transform your risk reporting mechanisms

    How to transform your risk reporting mechanisms

    Capital Markets

    How to transform your risk reporting

    A leading brokerage firm improved its UI and lowered costs with a future-ready risk reporting platform.

    Client

    The client was a brokerage firm with a strong presence in the capital markets.

    Goal

    Improve risk reporting and calculations.

    Tools and technologies

    Dot Net, C#, Greenplum, JUX Proprietary Framework and HTML5.

    BUSINESS CHALLENGE

    The client's market risk reporting and limit monitoring platform was based on products that were reaching the end of their service lines in the foreseeable future — Microsoft's Silverlight for viewing rich content and IBM's Netezza for data warehousing. They wanted to move to a new-technology platform. Among the big challenges was a lack of user-friendliness, a high cost of ownership because of the maintenance needed, and a lack of scalability because the data could not be clustered. The existing systems did not enable efficient audit trails and tracking of users. Iris had to identify alternatives that would sit well with 55 other applications in the system.

    SOLUTION

    We considered building a visualization platform using the latest JavaScript frameworks such as Angular or React but settled on making a fresh user interface and UI framework on HTML5. We developed new UI widgets to provide better user experience, making it possible for users to customize their workspace. We integrated the module to manage a user’s role and access level. In all, we provided a modern, flexible interface for application deployment that was developed in-house.

    OUTCOMES

    We successfully moved all the 55 applications to the new platform. As a result, the total cost of ownership was expected to be 15% lower after the migration. It was also built for the future — a distributed, scalable, mobile-ready platform. It had an integrated module for managing user roles and access levels and could be customized with various themes to provide better user experience. User tracking and audit trails were enabled. 15% Lower total cost of ownership 55 Apps moved to new platform

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    Data warehouse enhances client communications

    Bank’s multi-channel client communications and portfolio management capabilities improved with investment data warehouse

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    Brokerage platform transformation improves UX

    Monolithic brokerage platform transformed into microservices helps leading brokerage firm achieve improve operations and UX.

    Learn more

    Contact

    Our experts can help you find the right solutions to meet your needs.

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    Data consolidation speeds up drug search

    Data consolidation speeds up drug search

    Cloud

    Data consolidation speeds up drug search

    An automated cloud-based consolidation application for R&D data helped a pharmaceutical company improve turnaround time to create Approval for Product Release (APR) documents.

    Client

    A U.S.-based pharmaceutical multinational corporation.

    Goal

    Reduce turnaround time for APRs (Approval for Product Release).

    Tools and technologies

    Amazon’s AWS OPCx, Webmethods, natural language processing (NLP), neural networks, and Python programming

    BUSINESS CHALLENGE

    In pharmaceutical R&D, data is generated from several sources: the process, patients, retailers, and caregivers, among others. Pharmaceutical R&D organizations that use the traditional way of creating APRs manually consolidate paper specifications into binders across all R&D functions.

    Specific regional rules, compliance mandates, and external regulations were slowing down the client’s workflow.

    The many spreadsheets in multiple formats were leading to errors from manual entry and duplication of data — the inevitable “swivel effect” that results from data being pulled out from disparate, unconnected software packages.

    Iris was approached to improve the process of collecting and using data from multiple sources; the improvement would help the client identify and develop new potential drug candidates faster.

    SOLUTION

    Iris’s team of 12 specialists designed, developed, tested, and deployed a cloud-based application that integrates data from multiple regions and eight different systems into a single, unified interface for the client’s users. Our application unified the creation and management of the client’s workflows across its lines of business and 20 different product families.

    The development environment included Amazon’s AWS OPCx; Webmethods; natural language processing (NLP); neural networks; and Python programming.

    OUTCOMES

    Within a year of the application’s release, 2,800 users were using the application, with 55% of APRs turning around in 10 calendar weeks or less. Thanks to the in-memory data grid, the response time of transactions across the board has been brought down to nearly 2 seconds.

    The cloud-based application developed by Iris ensures that data is automatically and seamlessly shared between systems that were previously stand-alone and required the tedious manual entry of data.

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    Real-time tracking of a global container fleet

    Real-time tracking of a global container fleet

    Transportation & Logistics

    Real-time tracking of a global container fleet

    A cloud-based GPS-integrated solution delivered, for our client, real-time visibility of its shipments, bringing efficiencies in time, cost and regulatory compliance.

    Client

    A diversified global business group with a strong presence in maritime services.

    Goal

    Real-time tracking of a global container fleet.

    Tools and technologies

    Microsoft Azure, Node JS, C#, Bootstrap, and HTML5.

    BUSINESS CHALLENGE

    The pandemic has made it critical for transportation and logistics firms to manage their assets (or fleets) more efficiently.

    Demand is high for real-time asset tracking and tracing solutions. For the marine services business of our client, real-time management of a global fleet of containers required continuous, global tracking.

    Tracking the container fleet and meeting compliance requirements was laborious and error-prone, often leading to delays and lost opportunities. The client also did not have a mechanism to track customer usage of pay-per-use containers.

    We were tasked with creating multi-tenant based cloud application that would be optimized for cost and yet not compromise the user experiences of customers and field teams.

    SOLUTION

    Our decade-long experience in radio-frequency identification (RFID) helped us address this challenge. Our information engineers, UX designers, solution architects, and business analysts worked onsite with the customer to test scenarios and create a new architecture along with new user experiences and interfaces.

    We built the solution using the latest Microsoft Azure cloud services and BizTalk and RFID middleware for an integrated framework involving multiple customers (tenants) and services.

    An offshore team engineered the new application with the capabilities sought by the client; the architecture team helped create new systems and environments for development, quality assurance (QA), user acceptance testing (UAT), and production. The solution was capable of handling large amounts of streaming data with the help of edge services located near-site. Customized workflows captured container movement within each site, while GPS services tracked container movement across the globe.

    The application, which was deployed well within the scheduled deadline, enables post-production maintenance and enhancements from our offshore center.

    OUTCOMES

    We engineered real-time tracking and tracing for the client’s global container fleet, with map support and enhanced personalization for users based on location and asset class. Responsive design ensured that the application could be seamlessly used across various devices.

    Our experience with RFID and cloud-based engineering helped us anticipate and prepare the scenarios well in advance so that solutions could be delivered to the client fast. This significantly reduced the time for the client to prepare cost and compliance status reports, and location-based dashboards for KPIs.

    The near-real time tracking of containers reduced the time to calculate exact container usage and certificate status from days and hours to a few minutes.

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    API migration benefits leading logistics company

    Phased migration of Boomi APIs to Apigee helps a leading transportation and logistics company improve performance and scale

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    IT modernization lowers costs for capital markets

    Technology transformation for capital markets reduces infrastructure costs and improves turnaround time and deal compliance.

    Learn more

    Contact

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    A legacy portfolio gets a makeover

    Advisory & Consulting

    Conquering the cloud

    Iris developed a multi-device mobile ticketing and permitting application that seamlessly integrated with local government systems using cloud technology for more efficient law enforcement.

    Conquering the cloud
    Iris developed a multi-device mobile ticketing and permitting application that seamlessly integrated with local government systems using cloud technology for more efficient law enforcement.
    Conquering the cloud
    Iris developed a multi-device mobile ticketing and permitting application that seamlessly integrated with local government systems using cloud technology for more efficient law enforcement.
    Conquering the cloud
    Iris developed a multi-device mobile ticketing and permitting application that seamlessly integrated with local government systems using cloud technology for more efficient law enforcement.
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    A legacy portfolio gets a makeover

    Advisory & Consulting

    A legacy portfolio gets a makeover

    How one of the Big Four advisory firms turned around an under-performing, high-cost application portfolio to meet growing business needs.

    Client

    The client is one of the Big Four advisory firms.

    Goal

    Modernize the legacy application to meet growing business needs.

    Tools and technologies

    MS SharePoint, MS .Net and MS SQL Server.

    BUSINESS CHALLENGE

    The client had multiple legacy applications, deployed over the years. Its business needs had grown with time and the applications were falling short of required service levels. The client faced the following challenges:
    • Lack of integration: Most of the integration with upstream and downstream systems was manual, resulting in common data getting obsolete quickly.
    • The client was finding it difficult and expensive to hire and retain resources to maintain the legacy apps.
    • The legacy system was prone to security breaches and couldn’t be deployed on the enterprise-level stack.
    • The existing system supported only single-user applications, and it wasn’t possible to roll them out to multiple users.

    SOLUTION

    After a comprehensive analysis, we rationalized, classified and distributed the client’s applications portfolio in four areas: 1) upgrade and continue to maintain; 2) rewrite to modernize; 3) consolidate overlapping applications using a framework approach; and, 4) retire. The idea was to deliver maximum value at the lowest cost possible and ensure the system complied with security standards. Here’s what we did for the client:
    • Upgraded the technology stack for the application(s) to lower maintenance costs, improve efficiency and meet growing business needs.
    • Used an in-house technology modernization framework to reduce development and maintenance costs.
    • Consolidated applications that were doing similar tasks and had similar features and modernized them.
    • Retired applications, whose features were available through other applications.
    The success of our solution was based on our ability to quickly gather complete information about the existing applications. To do that, we used a questionnaire that we have developed and refined over the years that helps us gather information in a structured and comprehensive manner about the architecture, user base, maintenance methodology, etc.

    OUTCOMES

    • With the legacy modernization and application consolidation process, we reduced the client’s application portfolio from 45 applications to less than 10.
    • Reduced the resources required for maintenance from six to two.
    • The framework-based approach accelerated time-to-market, a critical differentiator for the client.

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    Global bank overcomes AML monitoring challenges and saves $1M in infrastructure costs with a unified front-end.

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    How to transform your risk reporting mechanisms

    A future-ready risk reporting platform helped a leading brokerage firm improve its user interfaces and lower costs.

    Learn more

    Data consolidation speeds up drug search

    A pharmaceutical company improved turnaround time for APRs and automated manual work.

    Learn more

    Contact

    Our experts can help you find the right solutions to meet your needs.

    Get in touch

    An agile sprint for financial data

    An agile sprint for financial data

    An agile sprint for financial data

    How Iris helped a mega sportswear brand’s global operations and financial reports go flexible, agile, and analytical.

    Client

    Among the world’s largest manufacturers of sportswear, the client sells its products in more than 120 countries and employs more than 13,000 people.

    Goal

    To significantly reduce turnaround time and ease associated with report creation.

    Tools and technologies

    Microsoft SQL Server’s Analysis Services (SSAS), Microsoft SQL Server Integration Services (SSIS), Microsoft SQL Server Reporting Services (SSRS), Boomi AtomSphere, and Power BI.

    BUSINESS CHALLENGE

    The client’s finance department was using standard SAP reports which limited the flexibility to slice and dice data or add fields to reports. Modifying or creating new reports was either difficult or expensive. Top management, including the CFO and financial controllers, were finding it difficult to create a high-level, integrated view of the company’s finances. The existing process required data transposition between various systems, including the SAP and Oracle systems. Much of this data was extracted and consolidated manually, which was time-consuming, and took around a week.

    SOLUTION

    Iris executed a distributed Agile framework for the client’s global delivery model. Our solution pulled data out of the client’s SAP ERP system using Dell Boomi adapters, and leveraged SSIS (SQL server integration services) to transform it into enriched data. This data was mapped and made actionable through interactive PowerBI Tableau dashboards. With the help of a custom-made finance data model, a data warehouse was created. The easily shareable data cubes not only replaced all legacy reports, but also reduced the number of SAP user licenses.

    OUTCOMES

    With the availability of Power BI dashboards and the capability to slice-and-dice financial data, client managers now have a better view of operations and accounting flows. The data consolidation allows users to create need-based reports without additional licenses. The automation of the entire process from data extraction and transformation to publishing of analytical cubes has enabled the client teams to significantly reduce time required to produce reports – from days to a few minutes. They have been able to achieve a 95% reduction in time and effort.

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    Cloud Data Lakehouse for Single Source of Truth

    Transformation of data and BI applications to MS Azure cloud deliveres “Order to Cash” sales analytics on cloud for a life sciences company.

    Learn more

    Platform re-engineering for operational efficiency

    A leading brokerage bank improved operational efficiencies with data extraction platform modernization.

    Learn more

    Contact

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    A playbook for banks on managing M&A integration

    A playbook for banks on managing M&A integration

    Banking

    A playbook for banks on M&A integration

    Efficient management of the complexities of disparate systems and data after an acquisition saves time and money.

    Client

    Banks that have merged or acquired new businesses.

    Goal

    Manage migration and integration complexity post M&A.

    Tools and technologies

    The Iris business acquisition playbook for banks.

    BUSINESS CHALLENGE

    In a low-interest rate regime, achieving scale is the only way for banks to stay profitable. The top 25 banks are growing at a rate faster than rest of the pack. The search for profitability from scale is predicated upon their ability to ensure that operational costs do not grow linearly with business. A significant part of this growth will come inorganically. Apart from M&As, brownfield expansion comes with banks selling off their books of business for reasons ranging from realigned strategic priorities to the more mundane need of raising cash. Any IT costs in absorbing the new book of work will negate the advantages of size.

    Solution

    Iris has been working with banking clients to create a business acquisition playbook outlining steps to insource with a migration and integration strategy. We have enabled clients to deal with post-merger integrations and create a single source of truth for transactional data and positions. The Iris team delivered solutions specifically tailored for applications in the loan origination and servicing space. We have helped our banking clients:
    • Consolidate multiple acquisition playbooks to create a single standardized framework for their lending business
    • Define insourcing steps for business and technology teams and create a migration strategy with quantifiable recommendations and a reusable checklist for insourcing activities.
    • Assess capability and readiness and help them choose from insourcing options:
    • Achieve full migration of data and systems
    • Achieve partial migration of systems and data migration and integration
    • Manage data integration and connectivity for lending business.

    Outcomes

    We have helped clients achieve 50% savings in cycle time and cost for post-merger integration of business processes, application and data.

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    Conversational assistant boosts AML product assurance

    Gen AI-powered responses enhance the operational efficiency of the AML global product assurance team and reduce cost.

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    Automated financial analysis reduces manual effort

    Analysts in commercial lending and credit risk units are able to source intelligent information across multiple documents.  

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    Contact

    Our experts can help you find the right solutions to meet your needs.

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    An API ecosystem expedites customer onboarding

    An API ecosystem expedites customer onboarding

    Transportation & Logistics

    How APIs help in rapid customer onboarding

    A global leader in logistics created an API ecosystem that significantly transformed its customer experience.

    Client

    The client is a leading logistics and transportation services provider, ranked among the top 10 in the world.

    Goal

    Rapid onboarding of partners and customers; improve customer experience.

    Tools and technologies

    Azure, Dell Boomi APIM and oAuth 2.

    BUSINESS CHALLENGE

    The growing volume of business required the client to respond faster to market demands. On their current systems, it was a challenge for the support staff to onboard new clients and service their requests.

    The client needed a solution that would help it respond quickly to diverse business needs, including:

    • Last mile shipment tracking and alerts across carrier networks
    • Quotes for multiple shipment options
    • Special fulfilment orders
    • Order personalization for seasonal surges

    SOLUTION

    We proposed and developed a comprehensive API layer that allowed customers and partners to access client systems using APIs.

    Customers and partners could easily track shipments and get quotes on their own. This reduced the need for support personnel to service routine requests. The team configured these APIs on Boomi’s API Management to enable seamless real-time integration.

    OUTCOMES

    • Improved onboarding speed: 20+ partners per month
    • Enabled client to handle large volumes of requests, with a service capacity of 35,000 API requests a day
    • Improved customer experience through real-time rates and quotes

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    Anti-money laundering software saves $1M

    Global bank overcomes AML monitoring challenges and saves $1M in infrastructure costs with a unified front-end.

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    Our experts can help you find the right solutions to meet your needs.

    Get in touch

    A robust platform for investment advisors

    A robust platform for investment advisors

    Brokerage & Wealth

    A robust platform for investment advisors

    A prominent U.S. brokerage firm transformed its monolithic legacy apps for registered investment advisors (RIAs) into a microservices-based open platform and significantly improved user experience.

    Client

    A leading brokerage and wealth management firm based in the U.S.

    Goal

    Create a best-in-class platform for registered investment advisors (RIAs).

    Tools and technologies

    Pivotal Cloud Foundry, Spring Boot, Spring Cloud Gateway, Angular 6, TIBCO AMX BW, SQL Server, Hybrid Automation Framework (Selenium, Appium, Perfecto) and AppDynamics

    BUSINESS CHALLENGE

    With growing competition from nimble fintechs, custodians are under pressure to provide RIAs a differentiated experience. Many of them are looking to use advanced technology solutions such as machine learning, artificial intelligence and data and analytics to help RIAs improve the end consumer experience.

    Our client had multiple legacy platforms built over the years that was preventing it from providing their RIAs with a secure, integrated and cost-effective solution.

    SOLUTION

    Iris has been played an integral role in transforming the client’s technology landscape from a legacy system to a modern, open, API-based architecture. The solutions we have implemented include:

    • An open access platform with API architecture as part of the client’s go-to-market strategy. We continue to work on integrating third party vendor applications and RIA back-office applications onto this platform.
    • The platform is highly reliable and secure with protection of data at rest and in motion using encryption. We have enabled encryption of data in transit to protect over 100+ integrations outside the client environment. We have used SAML and OAuth for user authentication.
    • An SSO solution provides multi-factor authentication (MFA) and a framework for privileged access management to secure customer information. The Iris team has also ensured mobile security for iOS & Android devices and helped the client plug platform vulnerabilities.
    • Developed responsive design as part of the UI transformation initiatives for core trading, advisory and educational solutions.
    • Transformed monolithic application into micro services-based architecture.
    • Provided flexible development capabilities with distributed Agile teams and extensive test automation reducing time to market and achieving significant cost savings.
    • Digitized end-to-end client onboarding with features for bulk onboarding, advisor authorization and ability to submit statutory documentation online and offline.
    • Created back-office solutions for money movement and cash and asset management that allowed RIAs to get a holistic view of clients and serve them on the go.
    • Customizable workflow to serve needs of individual advisor firms.

    OUTCOMES

    We enabled the client to securely integrate over hundreds of third-party apps and RIA back-office applications. Our test automation and Agile solutions helped the client reduce time to market for new features by 40%. Reduced the regression cycle duration by 60% with automated tests over six months. Increased test automation coverage to 70%. Reduced defect leakage to less than 1%. Improved performance of business transactions by 30% to 40% on the web platform. Addressed > 70% of security and vulnerability issues, leading to a better customer experience.

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    Quality engineering for Blockchain-DLT platform

    Digital financial services company increased automation coverage and patch delivery efficiencies with quality engineering.

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    Contact

    Our experts can help you find the right solutions to meet your needs.

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