Platform technology specialist Yoni Avital founds new regulatory technology enterprise in Singapore

RegTech most certainly is the new FinTech. Building on Tradesmarter’s back end system, trading platform technologist Yoni Avital has launched Backpack.io today in Singapore

Japan and Singapore follow fintech-friendly steps

Tradesmarter Holdings, founded some time ago by Yoni Avital in Tel Aviv, has always stood apart from its peers in that its ethos has been on technlogical development rather than sales and marketing.

Today, building on that ethos, Mr. Avital has launched Backack.io in Singapore, which is a regulatory technology firm that has its roots in the proprietary back end system developed by Tradesmarter.

Speaking to FinanceFeeds during the summer of this year, Mr. Avital stated his intentions to move to Singapore and take his part in building further on the FinTech revolution that has taken place in the institutional technology and banking center for the Asia Pacific region.

While Tradesmarter provides its webtrader front end technology, Backpack will provide a complete back office solution for capital markets. The action by Tradesmarter to separate the two and manage them completely separately ensures a neutral platform and neutral industry.

“We believe tighter regulations will benefit the industry over time, for many companies those demands are a business killer, The technology utilized by Backpack has been built fully from bottom up to support our regulated companies over the years,” said Yoni Avital, Founder of Backpack and CEO of Tradesmarter Holdings. “Our multifaceted approach through our array of products, which include Backpack CRM, Backpack Reporting, Backpack Pay, Backpack Compliance, Backpack API Marketing, and Backpack BI, enables a turn-key solution for the financial industry.”

RegTech companies often use works like automation, and efficiency to discuss processes; however, this is approach only solves one piece of a larger puzzle if they truly want to improve and comply with the demand for tighter regulation. Additionally, these companies have spent huge amounts of money integrating everything from top to bottom with the belief that it will make everything faster, more effective, and more connected, but problems arise due to the integrated nature of any IT infrastructure. As such, Backpack connects all the parts by having one solid solution that was built to save cost and improve processes.

“Backpacks truly stands apart from other RegTech companies searching to achieve similar results,” continue Avital. “We’re looking forward to using our unique approach to continue to rise above our competition, and to merge and acquire several technologies within our space to become the strongest and leading company with the vast expertise and reputation, providing unparalleled service and solution.”

Read this next

Industry News

21 Republican representatives want to “End the Fed”

“Americans are suffering under crippling inflation, and the Federal Reserve is to blame.”

Retail FX

Scope Markets launches unleveraged trading

“Whilst our traditional contract for difference (CFD) products continue to prove incredibly popular, the Invest account is unleveraged and only allows ‘long’ positions to be taken, a combination that significantly reduces the risk of capital losses.”

blockdag

Unlocking Profit Potential: Earn Returns with DecodeEX Experience Bonus!

DecodeEX, the innovative brokerage subsidiary of Decode Global, announced its experience bonus campaign, offering every user the opportunity to maximize their strategic trading potential with up to $10,000 in experience bonus. 

Market News

Pretiorates’ Thoughts 28 – Precious metals and base metals out of control

Ten days ago we mentioned in Pretiorates’ Thoughts 26: Chapter 2 should start with Precious Metals.

Retail FX

Webull launches discount brokerage in Malaysia

“Making investing more inclusive and accessible to all, Webull Malaysia brings best-in-class tools and information to empower investors of all levels with knowledge and skills to help them make better investment decisions and achieve their investment goals.”

Digital Assets

Hidden Road adds OKX’s Nitro Spreads into prime brokerage

“Hidden Road continually seeks to increase market access and capital efficiency through expanded prime brokerage offerings. Integrating OKX’s Nitro Spreads product builds upon this philosophy by extending our counterparties’ ability to execute risk-managed arbitrage strategies.”

blockdag

Dev Release 31: BlockDAG’s SHA-3 Upgrades Propel Crypto Mining Innovation as Miner Sales Approach 5800 Units

Learn about BlockDAG’s 31st Development Release, which includes advanced SHA-3 updates and a significant increase in miner sales, driving advancements.

blockdag

BlockDAG Dominates 2024 Crypto Trends: Surpasses $28M in Presales Amid Strategic Partnerships

Explore BlockDAG, Shiba Inu, and Kaspa Killer’s rise in 2024’s crypto market, focusing on BlockDAG’s $28M presales, strategic partnerships, and innovative technology.

blockdag

BlockDAG’s $30 by 2030 Valuation Prediction and Roadmap Reveal Gains Traction From Filecoin and XLM Investors

Discover why BDAG’s $30 price prediction by 2030 outshines Filecoin Investors’ hopes and XLM’s recent surge with a booming presale and clear roadmap.

<