Financial software company IRESS has dismissed the threat of new market entrant Intelliflo, with chief executive Andrew Walsh saying the local marketplace is already competitive and values IRESS's independence.

IRESS, which is valued at $2.1 billion and generated $430 million in revenue in the last financial year, is also making significant investments in artificial intelligence. About half of its 1800 employees are now part of its technology team, and this could increase on the back of the Hayne royal commission.