As part of its innovative approach to modernising its core suite of financial management applications, IOOF utilised 3 XVT consultants to work with their internal team. Their dynamic agile teams were coached by Thoughtworks Australia. Our consultants were able to bring their experience in the latest open source JVM technologies to deliver a modern micro-services architecture approach to interoperability between legacy systems and contemporary applications.
Unlike it’s competitors who mostly opt for COTS offerings, IOOF produced their core superannuation systems from scratch in Java, Delphi and Clojure.
The new Microservice architecture splits up concepts like member and advisor, business rules like fee configuration, and orchestration like member registration into small pieces that, when assembled, perform the overall system function. The system utilises REST APIs which integrate with the core register offers IOOF the flexibility to introduce whatever features it wants into the platform. The system front end uses ReactJS to allow for a great user experience regardless of device.
Choosing this path has given IOOF more flexibility in what it can offer digitally, allowing them to introduce new desired features quickly. The company now has more effective financial management systems that are extremely well positioned to adapt nimbly to inevitable future changes.