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Press Release
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iRise Selected by SunTrust to Visualize Applications
Leading Commercial Bank Selects iRise to Visualize Customer-Facing Web Applications Prior to Development
EL SEGUNDO, Calif. –— June 27, 2005 — iRise®, the world’s leading application definition software and services company, today announced that SunTrust, one of the nation’s largest commercial banks, has selected the iRise platform to visually validate requirements for its customer-facing web applications. iRise for application definition enables users to drive user adoption, speed time to market, retain existing customers and acquire new customers through an expanded online presence.
SunTrust selected iRise to provide its business analysts with the ability to visually validate and “test market” its web-based applications prior to development. In addition to purchasing the iRise platform, SunTrust contracted the iRise services organization to complete an application definition engagement. During the engagement, iRise professionals worked with the SunTrust business analysts to quickly elicit application requirements from the stakeholders, and then facilitate a cross-functional effort to organize, prioritize and visualize them with iRise.
“The benefits of compelling online products and services are impressive in terms of impact to the bottom line, increased loyalty and customer acquisition” said David Nix, vice president of online banking at SunTrust. “As we began the project to deliver an enhanced online experience for our customers, we knew we needed a more effective way to validate user requirements. With iRise simulations, we are able to ensure that we are building the right applications for our customers the first time.”
Compelling online services are a competitive necessity in today’s high stakes financial services world. Defining application requirements can often pose the greatest risk to creating a dynamic, user-friendly online presence. Most companies have relied on text or static screen mockups during the application definition process. Often the results are confusion, delay and lost opportunity costs because these tools are not sufficient for defining and validating application flow, business logic and usability. Application simulation with iRise allows business people to review and interact with multiple “what-if” scenarios and versions to determine which one best fits their customers needs. By enabling SunTrust to move from static text-based requirements to visual application definition, iRise is helping SunTrust to ensure user adoption and realize competitive advantage.
“SunTrust’s experience with iRise is a great example of the value that visual application simulation is bringing to the financial services sector,” said Mitch Bishop, chief marketing officer at iRise. “It is our dedication and focus on the application definition process that enables us to deliver rapid ROI. We are ecstatic with SunTrust’s selection of iRise and we look forward to supporting SunTrust’s continued success.”
About iRise
iRise® is dedicated to bridging the communication gap between business and IT by improving the process of defining software. Global corporations like Agilent, CNA, CSAA, Health Net, Sprint, SunTrust and Wachovia use its market leading application definition platform to get requirements right - the first time. iRise application simulations cut rework costs, accelerate time to market and reduce the risks associated with global development on mission-critical business systems initiatives. Unlike text-based requirements, visual iRise simulations are unambiguous and enforceable specifications that ensure the needs of the business are clearly understood and met. iRise simulations can be built by business experts and used in a collaborative global model to quickly iterate on stakeholder requirements with business people, dramatically improving project success. Headquartered in El Segundo, Calif., iRise is backed by Morgan Stanley Venture Partners and has sales offices across North America.
1 Forrester Research, Inc., "The Hidden Costs of Offshore Outsourcing", Stephane Moore, March 2005
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