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A disruptive technology is the one that displaces an existing technology and creates a new market and value. It replaces the established leading firms, companies, products. For example, social media like Facebook and WhatsApp had changed the way people communicate. This is one of the leading disruptive technologies. WhatsApp has replaced calls and SMS. Another familiar example is smart phones. They have replaced telephones and cell phones and have multi-purpose use. IRESS is one of the disruptive technologies in the financial technology market that rose up to fame within a short span of time.
In 1993, Dunai financial services was started and a software named IRESS was launched. Eventually, after many collaborations the firm was named IRESS and they are the software providers for the Australian superannuation industry. IRESS provides software for financial institutions, stockbrokers and other financial firms. With an annual revenue of $389 M and around 1800 employees they are running a good show. Giving a tough time for its competitors this company has equal pros and cons. WLM financial, iSelect, Centrepoint alliance, UniSuper are some of the reputed clients of IRESS. It provides technological solutions and software for services like invest management, broking, financial planning and superannuation. Some of their renowned products are:
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