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.
Contact
Our experts can help you find the right solutions to meet your needs.
Get in touchLIMRA 2025 Workplace Benefits Conference
LIMRA 2025 Workplace Benefits Conference
Discuss the impact of digital transformation on insurers, benefits providers, and consumers with Venkat Laksh, our InsurTech expert, at the LIMRA 2025 Workplace Benefits Conference.
The LIMRA (Life Insurance Marketing and Research Association) 2025 Workplace Benefits Conference takes place April 23-25, 2025, at the Encore Boston Harbor in Boston, MA. With this year’s theme, Pathways to Growth, industry leaders and participants will examine the business and technology trends affecting the North American workplace benefits market. Speakers and attendees, primarily carriers and brokers of life, health, and related insurance coverage, and providers of employee benefits and technology solutions, will explore strategies for growth while addressing shifting consumer needs, the latest digital tools and technologies, and an increasing focus on innovation, outcomes and collaboration.
Venkat Laksh, Iris’ Global Lead – Insurance, and Senior Client Partner, will attend this forum. Iris provides leading insurance companies with advanced InsurTech services and solutions, including Software and Quality Engineering, AI/ML/Generative AI, Application Modernization, Automation, Cloud, Data Science, Enterprise Analytics and Integrations. These companies are applying next-generation, emerging technology through Iris to ensure their enterprises are future-ready, scalable, secure, cost-efficient, and compliant.
Talk about your digital priorities with Venkat at the LIMRA 2025 Workplace Benefits Conference and connect with our InsurTech team anytime to advance your digital transformation goals: Insurance Technology Services | Iris Software.
Contact
Our experts can help you find the right solutions to meet your needs.
Get in touchEnterprise-Grade DevOps for Scalable Blockchain DLT
Enhance the scalability, resilience, and performance of blockchain DLT platforms with enterprise-grade DevOps and SRE practices.
Client
A leading provider of real-world asset (RWA) tokenization, digital currency, and interoperability solutions to the world’s largest financial players
Goal
To optimize blockchain DLT platforms for scalability, resilience, and seamless operations through enterprise-grade DevOps and SRE practices
Tools and Technologies
R3 Corda 5, Azure, AWS, G42, Docker, Kubernetes, Helm Charts, Terraform, Ansible, GitHub Actions, Azure DevOps, Jenkins, Prometheus, Grafana, Slack Integration
Business Challenge
Complex Multi-Node Deployments require a mechanism to upgrade CorDapps, notaries, and workers across network participants without downtime or compatibility issues. Meanwhile, security and compliance risks demand strict access controls, network segmentation, and security hardening to protect Corda nodes and ledger operations.
For infrastructure scalability and automation, an efficient approach was required for onboarding new participants and managing network topology across cloud environments. The lack of a Real-Time Monitoring system necessitated the detection of transaction failures, tracking node health, and providing proactive alerts.
To address security vulnerabilities, continuous scanning and security enforcement across CorDapps, containerized nodes, and CI/CD pipelines were required.
Solution
- Enabled zero-downtime CorDapp deployments with automated rollback and stateful upgrades, ensuring stability and ledger integrity
- Secured Corda nodes with RBAC, network segmentation, and security hardening, while optimizing autoscaling for dynamic ledger workloads
- Automated Corda network topology and participant onboarding using modular Terraform & Ansible configurations, ensuring scalability and repeatability
- Implemented real-time monitoring with Prometheus & Grafana, with Slack-based alerts for transaction failures and node health anomalies
- Ensured high availability and auto-healing for Corda network nodes and ledger operations
- Integrated DevSecOps with automated vulnerability scanning for CorDapps, containerized nodes, and CI/CD pipelines
Outcomes
- Accelerated blockchain deployment cycles through CI/CD automation increased deployment frequency by 40% and reduced failures by 60%
- Optimized kubernetes workloads for Corda 5 through efficient resource management resulted in 15% cost savings and improved ledger performance
- Scalable & secure blockchain infrastructure reduced manual intervention by 30%, enabling seamless scaling of Corda network participants
- Proactive incident management for DLT networks through real-time monitoring cut response time by 50% for blockchain issues, ensuring high availability
- Automated workflows accelerated development cycles by 25%, enhancing collaboration across blockchain and DevOps teams
Our experts can help you find the right solutions to meet your needs.
Explore the world with Iris. Follow us on social media today.
Faster go-to-market with no-code API solutions
A home insurance enterprise streamlined policy administration, improving scalability and security while reducing time-to-market by 40%.
Client
A leading home insurance enterprise
Goal
Expedite go-to-market strategy by integrating the policy admin system with multiple external services while ensuring scalability, security, and compatibility
Tools and Technologies
Unqork, API gateways, REST APIs, SOAP APIsBusiness Challenge
The client sought to expedite its go-to-market strategy by integrating its Policy Admin system with multiple external services.
The objective was to swiftly implement these integrations while maintaining scalability, security, and compatibility with external services, thereby accelerating the organization's time-to-market for new products.
Solution
- Efficiently created APIs and seamlessly integrated them with the existing low-code/no-code enterprise application
- Utilizing pre-built and pre-exposed API gateways, the team developed highly functional and adaptable APIs without manual coding
- Unqork facilitated the creation of both REST and SOAP APIs, seamlessly integrating with external APIs, ensuring optimal data access and distribution capabilities
Outcomes
- 40% faster time-to-market, enabling quicker product launches
- 25% increase in customer satisfaction due to improved system flexibility
- Enhanced scalability and security with seamless API integrations
Our experts can help you find the right solutions to meet your needs.
Explore the world with Iris. Follow us on social media today.
Enhanced executive dashboard for streamlined reporting
A specialty property & casualty insurer improved user experience, reduced onboarding time, and centralized reporting with a new executive dashboard.
Client
A leading specialty property & casualty insurer
Goal
Redesign the existing executive dashboard to improve user experience, streamline access to reports, and reduce manual efforts in onboarding new users and reports
Tools and Technologies
Azure, UI/UX enhancements, centralized reporting hub, SSO integrationBusiness Challenge
The client aimed to revamp its executive dashboard to address usability concerns and enhance functionality. Users found the system difficult to navigate due to inconsistent flow and poor design. Essential information was not easily accessible in one place, leading to inefficiencies.
Additionally, onboarding a new report or user required extensive manual effort, including database updates, script creation, and multiple service tickets, resulting in turnaround times of 1-2 days.
Solution
As a strategic solution partner, Iris reimagined the executive dashboard with a focus on user experience and operational efficiency. Key enhancements included:
- Intuitive design improvements for seamless navigation and accessibility
- Expanded functionalities such as search, sorting, filtering, favorites, most reviewed, access requests, user management, notifications, and audit trail
- Development of a centralized reporting hub that provides a single access point for all Hudson reports with a mobile-friendly interface
- Deployment on Azure for seamless accessibility and performance optimization
Outcomes
- Improved customer experience and satisfaction through a user-friendly interface
- Onboarding time for new users and reports reduced to 30 minutes
- Simplified report access with SSO integration and minimal clicks required to retrieve information
- Easier discovery and navigation of reports, with enhanced filtering and search capabilities
- Personalized user views with notifications for schedule delays or report errors
- Introduction of an admin section enabling UI-based user creation, notifications, and report access management
Our experts can help you find the right solutions to meet your needs.
Explore the world with Iris. Follow us on social media today.
Seamless self-service portal integration with fineos
Seamless integration of a self-service portal with FINEOS AdminSuite improved scalability, reduced processing time, and enhanced user experience.
Client
A leading insurance provider specializing in absence management solutions
Goal
Migrate data and services from a legacy platform to FINEOS while ensuring a seamless user experience and improved system reliability
Tools and Technologies
Spring Boot, APIGEE, FINEOS AdminSuite, SplunkBusiness Challenge
The client aimed to migrate data and services from its legacy Group Benefits Platform Transformation (GPT) system to FINEOS AdminSuite while maintaining a consistent user interface, improving data accuracy, and ensuring minimal downtime.
The system also required enhanced automation and monitoring to streamline absence creation for agents and employees.
Solution
- Developed APIs to integrate the legacy system with FINEOS AdminSuite for seamless absence management
- Designed an interactive self-service portal, allowing users to efficiently manage absences
- Used Spring Boot for service development and APIGEE for API integration
- Implemented Splunk for real-time monitoring and log analysis to enhance system reliability
Outcomes
- Increased system scalability, reliability, and data accuracy
- Enhanced user experience with a modern, intuitive interface
- Reduced time taken to create absences, improving efficiency for agents and employees
- Faster development cycles and better monitoring, ensuring proactive issue resolution
Our experts can help you find the right solutions to meet your needs.
Explore the world with Iris. Follow us on social media today.
Streamlining policy administration with low-code development
Seamless low-code development on AWS accelerated go-to-market for policy issuance, partner integration, and agent onboarding.
Client
A leading home insurance enterprise specializing in policy administration solutions
Goal
Develop policy administration applications for partner insurance carriers with seamless third-party and home-grown app integration
Tools and Technologies
Low-Code/No-Code Platform, AWS, Agile Development, ContainerizationBusiness Challenge
The client needed a scalable policy administration solution to support insurance carriers, integrate third-party applications, and enhance policy issuance and settlement.
The goal was to accelerate the go-to-market process for partners and agents while delivering premier services for competitive pricing and superior policy coverage.
Solution
- Designed and developed a policy administration platform using a Low-Code/No-Code application development platform on AWS
- Built three Agile Pod-based teams, each containing five members for rapid iteration and development
- Leveraged containerized development, ensuring each service had its own lifecycle for enhanced flexibility and scalability
- Established weekly release plans with feature flags to enable controlled functionality deployment in production once the business was ready to adopt
Outcomes
- 200% growth in policy issuance
- Faster onboarding for agencies and agents
- Improved efficiency and scalability in policy administration
- Accelerated go-to-market for insurance partners and agents
Our experts can help you find the right solutions to meet your needs.
Explore the world with Iris. Follow us on social media today.
InsurTech NY 2025 Spring Conference
Meet our team at InsurTech NY 2025 Spring Conference
Connect with Ravi Chodagam, Vice President, Venkat Laksh and Abhineet Jha, Senior Client Partners, at InsurTech NY’s annual forum to discuss next-gen technology solutions for insurers.
The annual InsurTech NY Spring Conference is April 2-3, 2025, at Chelsea Piers in New York City. The theme of this year’s forum is InsurTech is the New R&D. The event brings together 900+ leaders and innovators in the industry, including carriers and brokers of life, health and disability, property and casualty (P&C), and specialty insurance; investors; and insurtech service providers like Iris Software. Each year, speakers and attendees focus on the technology and business management solutions that will enhance the operations, customer experience, and revenue streams of insurers.
Meet the leaders of our global InsurTech team - Ravi Chodagam, Vice President, Venkat Laksh and Abhineet Jha, Senior Client Partners - at InsurTech NY’s 2025 Spring Conference. As an integral and long-time technology partner to many top life, P&C, and specialty insurers, Iris has vast experience implementing agile and advanced technology and data solutions that ensure clients stay competitive and ahead of rapidly evolving trends in the dynamic insurance industry.
Discuss your tech priorities with Ravi, Venkat and Abhineet at the Spring Conference, or anytime, and learn how leading insurers apply our solutions in AI and Generative AI, Application Modernization, Automation, Cloud, and Data Science & Analytics to ensure their enterprises are future-ready, scalable, secure, cost-efficient, and compliant. You can also contact the team and learn more about our InsurTech Services here: Insurance Technology Services | Iris Software.
Contact
Our experts can help you find the right solutions to meet your needs.
Get in touch
Leveraging Generative AI for asset tokenization
Enhance efficiency, security, and user experience by leveraging Generative AI in DLT-based asset tokenization.
Asset tokenization is converting ownership rights of an asset that has traditionally resided within legacy or traditional systems into a digital token on a Distributed Ledger Technology (DLT) platform. This transformation enables numerous benefits, including fractional ownership, 24/7 availability, easier transferability, and enhanced liquidity.
Developing and deploying a comprehensive asset tokenization system on DLT is a full-scale software development endeavor encompassing all SDLC phases. Every phase presents challenges, including technology complexities, evolving business use cases, non-standardization, scarcity of resources, and reluctance to adopt.
As asset tokenization emerges as an essential solution for financial institutions, the integration of Gen AI amplifies customer value. Institutions can achieve unprecedented efficiency, accuracy, and innovation by leveraging Gen AI's capabilities throughout the asset tokenization process.
Gen AI is set to play a pivotal role in improving asset tokenization by contributing to the different phases of its implementation. Gen AI can assist both in the implementation phase and beforehand, as it can help produce synthetic financial data that closely resembles real market conditions conduct stress tests and other simulations, helping to strengthen the platform.
Read our Perspective Paper for more insights into the key phases, benefits and the road map to asset tokenization.
Contact
Our experts can help you find the right solutions to meet your needs.
Get in touchData migration to cloud expedites credit risk functions
Migrating on-premises models and data to the cloud enhances financial forecasting, sensitivity analysis, and time-to-market.
Client
A leading North American bank
Goal
Migrate credit risk data and SAS-based analytics models from on-premises data warehouse to AWS to enhance functionality
Tools and Technologies
AWS Glue, Redshift, DataSync, Athena, CloudWatch, SageMaker; Apache Airflow; Delta Lake; Power BIBusiness Challenge
The credit risk unit of a major bank aimed to migrate SAS-based analytics models containing data for financial forecasting and sensitivity analysis to Amazon SageMaker.
This was to leverage benefits such as enhanced scalability, improved maintenance for MLOps engineers, and better developer experience. It also sought to migrate credit risk data from a Netezza-based on-premises data warehouse to AWS, utilizing a data lake on AWS S3 and a data warehouse on Redshift to support model migration.
Solution
- Decoupled data workload processing from relational systems using the phased approach with a focus on historical migration, transformational complexities, data volumes, and ingestion frequencies of the incremental loads
- Developed a flexible ETL framework using DataSync for extracting data to AWS as flat files from Netezza
- Transformed data in S3 layers using Glue ETL and moved it to the Redshift data warehouse
- Enabled Glue integration with Delta Lake for incremental data workloads
- Built ETL workflows using Step Functions during orchestration and concurrent runs of the workflow; orchestrated the concurrent runs of workflows using Apache Airflow
- Architected data shift from Netezza to AWS, leveraging a flexible ETL framework
Outcomes
- Enhanced financial forecasting and sensitivity analysis operations with analytical models and data migrated to the AWS public cloud
- Expedited time-to-market catering to client’s downstream consumption needs through Power BI and Amazon SageMaker
Our experts can help you find the right solutions to meet your needs.
Explore the world with Iris. Follow us on social media today.
Industries
Company
