IRESS reports strong 2018

Financial technology provider IRESS reported solid figures for 2018, anticipating a successful 2019 to follow.

IRESS group operating revenue grew 6%, driven by 7% growth in its UK business and 9% in Australia and New Zealand.

IRESS cited a number of strategic achievements as key drivers, including significant deliveries to large wealth management and financial advice clients, momentum in lending and increased innovation across the IRESS offering.

The Australia and New Zealand (ANZ) Wealth Management segment saw operating revenue of $136.4 million and a direct contribution of $100.7 million. This is an increase of 9% and 7% respectively.

This was down to the delivery of significant projects to advice and superannuation clients, and interest in how technology can drive automation for business outcomes, IRESS said.

The business' operating revenue in the Asia Pacific financial markets was slightly higher than the prior corresponding period at $115.6 million and direct contribution to the overall figures was down 3% to $81.6 million.

Despite this, IRESS said: "The business remains resilient as a result of strong execution and ongoing interest in integrated wealth and trading solutions, despite broader sell-side headwinds."

Chief executive Andrew Walsh said IRESS remains well placed for continued success in a changing financial services industry, "where strong demand remains for a broad range of standalone and integrated technology solutions."

"There is also an increasing focus by our clients on how technology - and IRESS - can help them manage and leverage data for compliance and growth."

Read more: IRESSAndrew Walsh
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