Exclusive: TechFinancials Prepares for Restructuring of Israeli Offices

Back when Israeli market regulators and some very vocal parties in the local media had just started pushing for a complete ban on the international marketing of binary options, we warned that the measure would cost thousands of well paying jobs for the Israeli economy. Now we are seeing confirmation that it's not just Call Center Call Center In general, a call center is defined as an office equipped with the technology and hardware to handle and process a large volume of incoming or outgoing phone calls. Call Centers today have expanded from simple telecommunication to all forms of communication, including online customer support and live chat features and the use of VOIP, including video calls. Initially, call centers were designed for selling or taking orders and for customer support. Call centers of yesterday were the precursor o In general, a call center is defined as an office equipped with the technology and hardware to handle and process a large volume of incoming or outgoing phone calls. Call Centers today have expanded from simple telecommunication to all forms of communication, including online customer support and live chat features and the use of VOIP, including video calls. Initially, call centers were designed for selling or taking orders and for customer support. Call centers of yesterday were the precursor o Read this Term jobs that are being lost, but software development and other key sectors too.

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According to Finance Magnates sources familiar with the matter, TechFinancials (LON:TECH), the publicly listed trading Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term for retail brokers of binary options, is now preparing for a possible restructuring that might include significant downsizing in Israel and the probable offshoring of many jobs.

This comes as Israel is in the final stages of banning the international marketing of binary options by local firms. Last Sunday the ban (an amendment to the securities law) was approved by a ministerial legislative committee and this Monday it passed the first of three needed votes in the legislature, with thirty-one parliamentarians voting for the move and none opposing it.

After a string of Israeli binary options brokers and call centers have shut down, TechFinancials is the first technology provider that seems to be heading in the same direction. It will most likely not be the last. Fellow software development houses such as SpotOption and PandaTS are facing the same situation and could be forced to follow suit.

As of the time of publication, TechFinancials declined to comment, but we will update if and when it does.