Financial technology business Iress will allow users to have input directly into the design and development process of its software and use functions ahead of general release.
The Iress Labs initiative is available to clients through the latest version of its wealth management software XPlan and will be used in other Iress products over time.
It also allows Iress to regularly roll out new and updated functionality that can be switched on and off, rather than users having to wait for scheduled releases.
Simon Badley, managing director of Iress, said: "We’ve always included our clients’ ideas and suggestions of what they would like to see in our software and what business problems they are looking to solve with technology. Iress Labs means more clients will be able to participate more easily, with the software being even better for it.
"Iress Labs is starting with a focus on XPlan, with 75 Iress client firms having already participated in development ‘experiments’ to date and co-designed functionality already released.
"We will continue to strengthen and expand this collaborative approach with our partners throughout the industry, be these clients, insurers, or product and technology providers."
Through Iress Labs, more users can actively sharing their opinions, experience and insight on what matters to their business and clients, which will be directly used to create functions that are efficient and intuitive.
Advisers test and provide feedback on prototypes during a development phase, before co-designed features are released more widely.
Iress's software is used by companies such as Tilney, Chase de Vere, LifeSearch, Tenet and Intrinsic.
damian.fantato@ft.com
