Accelerating Automation on the Cloud Long before fintech became an industry buzzword, Iress started providing software to financial institutions. Established in 1993 in Melbourne, Australia, Iress serves more than 9,000 local and international businesses ranging from Tier 1 banks to single-person advisories. The business, which also has a growing presence in the Asia Pacific region, North America, Africa, the UK, and Europe, has a market capitalization of AUD 2 billion (US$1.4 billion). The company’s unique experience, global network, and ability to configure solutions to client demands have solidified its presence in a competitive industry. Iress set up its operations using colocation data centers across the globe.
In 2018, its leadership redefined its technology strategy, which included enabling software to be operated on the cloud. To maintain its position as a digital pioneer, Iress aimed to take advantage of automation capabilities on the cloud to get features to clients faster and streamline deployment. Feature releases were not fully automated, leading to inconsistencies because Iress was often deploying on a region-by-region and client-by-client basis. “We were looking at ways to grow revenue and further expand our business without increasing costs. With the efficiency benefits of the cloud, we would be able to further automate processes and manual tasks while eliminating the associated time and costs of managing infrastructure,” says Andrew Walsh, chief executive officer at Iress.
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