Meet Raymond Dong and Artin Yong-Bannayan, Co-Founders, Skymantle
Skymantle’s primary goal is to help companies transition to the cloud. We specialize in empowering financial services organizations to meet their regulatory goals through innovative products and solutions.
Artin and Raymond have each worked in financial services for over 20 years and we have seen the challenges that financial service companies have transitioning to new technology, let alone the cloud. Many companies would just move their servers to the cloud and call it a day, which isn’t too different from moving to another datacentre. As a result, these firms fail to realize the performance, stability, and cost benefits of next-generation native services and serverless architectures offered by cloud providers. We formed Skymantle to address this challenge, and to accelerate a company’s cloud journey beyond a simple “lift-and-shift”.
Who are your clients and what types of regulatory challenges are they facing?
We work with financial services companies including data providers, technology companies and dealers. These companies regularly need to deal with new regulations, and as regulations are written vaguely and are often NOT prescriptive, obtaining meaningful compliance poses some interesting challenges. Every company will interpret new regulations differently thus financial technology companies and data providers need to provide highly flexible solutions to meet their needs. New regulations often mean incurring additional costs to dealers, which affects bottom line. As a result, our clients require solutions that are cost effective and flexible at the same time; traditionally polar opposites of each other.
Combining agile methodologies and serverless technology, solutions from Skymantle can achieve substantial cost savings and retain a high level of flexibility.
Can you describe your underlying technology and what’s on your product roadmap for the next major planned release?
Our solutions are built on Skymantle’s “data hub framework” which allows us to easily ingest data from financial service data providers, manipulate the data and serve the data to various mediums or provide API or files to other systems. Our “data hub” tracks changes and versions all the data over time to meet reporting and auditing requirements. This is all achieved through AWS serverless technology to provide a performant, flexible and cost-effective solution.
Because of our agile approach to product development, we release new features on a continuous basis. The value of this approach is that we can support a client’s evolving needs as they determine what those needs are based on the regulations.
In addition to product and solution development for our clients, this year Skymantle is launching a new vendor management system to support companies with their SOC 2 compliance.
Can you name some of your customers? (optional)
Last question, can you share with us why Skymantle Technologies Inc. became a member of the Canadian RegTech Association? and do you have any suggestions on how we might enhance our support of RegTech companies?
At Skymantle, we are passionate about accelerating positive change and making the world more efficient. We believe this can be achieved through collaboration and innovative technology. Our expertise happens to be in the financial services industry, especially in regulatory solutions. The Canadian RegTech Association’s focus on solving regulatory challenges through collaborative efforts between key RegTech stakeholders makes Skymantle a logical fit as a member.
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