of these companies that are dragging the ball and chain of legacy solutions , and they ’ re spending tens of millions a year upkeeping all these old systems that can ’ t do what they need them to do .” Gionis adds that these legacy systems are frequently deployed in house , which incurs a capital hit - as companies need to invest heavily in server infrastructure , databases and software licenses to ensure systems are supported and compliant . He recalls that , “ in previous roles when all we needed was an environment to do some testing , there was often a six week lag to provision that and the project went into the region of hundreds of thousands of dollars just to spin up a temporary environment to run a superannuation system in test mode .”

With Recreo ’ s cloud native solution , high up-front costs and lengthy setup windows are eliminated . “ We can spin up an environment in a matter of days ,” says Gionis . “ I think those advantages are too good to ignore , which is where a lot of the legacy players can ’ t compete or keep up .” Not

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Company : Recreo Location : Australia

A superannuation veteran with experience at Barclays , Prudential and Colonial First State . Dan is a solution and product designer and consultant whose role now sees him be responsible for defining , prioritising and planning the delivery of product development for Recreo ’ s fully featured administration platform . www . fintechmagazine . com