Home Deals Start-up Mainframe Cloud secures ATO contract

Fintech start-up Mainframe Cloud (MfC) has inked a contract with the Australian Taxation Office to deliver a suite of mainframe modernisation solutions.

The contract signing follows an extensive and successful beta testing exercise in 2016 and the achievement of what MfC says was a “minimum viable product”.

MfC is based at the Stone & Chalk fintech hub in Sydney, and co-founder and chief executive Ben Pearson says the contract with the ATO provides an opportunity for it to “scale at a sustainable rate and provide a level of service commensurate with the ATO’s expectations”.

Pearson said the MfC platform would allow organisations like the ATO to build “feature-rich applications more quickly and more efficiently utilising the skills of their Gen Y developers”.  

According to Pearson, the global application development market for mainframes is estimated to be US$23 billion per annum and mainframes process approximately 80% of the world’s data and are at the core of most of the world’s large government organisations, banks, airlines, retail and insurance companies.

“Mainframe Cloud’s technology is set to transform the mainframe software industry by dramatically reducing the release cycle for new applications, providing real-time access to mainframe data and allowing mainframe applications to be built by non-specialist developer resources,” Pearson says.

Mainframe Cloud is currently undertaking a fund raising to finalise its product development and Pearson says a larger capital raising is envisaged over the next 12-18 months to fully leverage the on-boarding of clients and revenues forecast for this time.

The company intends to be use the funds to facilitate growth and entry into the global mainframe software market.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

 

 

 

 

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