Sunday, 5 November 2017

SEBI Call Recording Compliance using Cloud Telephony Services of KOOKOO

As of January 1st 2018, stock brokers will have to record their phone calls under a new SEBI order.
This has mainly been introduced to prevent unauthorized trading activities. So brokers now have to have proof of orders placed by clients. Most important is the following statement in the order "When dispute arises, the burden of proof will be on the broker to produce the above records for the disputed trade."

So its high time the stock brokers start looking to ramp up their calling software so that it can start recording calls.
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This can now be easily done thanks to cloud telephony platforms. Especially given the fact that KOOKOO cloud telephony can work on PSTN networks, its a perfect fit for stock brokers. Enabling compliance to the new SEBI order is now as easy as 1-2-3 for stock brokers using KOOKOO.

1. Sign up for KOOKOO and get a phone number assigned.
2. Publish the phone number for customers to call.
3. Record calls that come through this number.

Be SEBI compliant. Choose the correct cloud telephony software

Choose a good cloud telephony platform that can provide the following features at a minimum.

1. Call recordings on by default.
2. Storage of recordings for a period of time which can be configured.
3. Enabling call recordings dynamically on call.
4. Allowing searching of call recordings by different search parameters like customer phone number, customer name, date and time etc.
5. Call recordings easily accessible over the web.
6. Customized location for call recordings.
7. Easy integration with IVR and cloud call centers.

Don't choose on premise solutions

Many small stock brokers may opt for an on premise recording box which will be sold by small operators. These boxes may seem a smaller investment and brokers may opt for it. But in the long run, this will turn out to be costlier. Especially in scenarios where you may need to recover the recordings in case of a conflict.
We have products for single stock brokers as well as stock broking companies with dedicated call centers. Our cloud call center solution is a perfect fit for enterprise stock broking companies which have dedicated call center staff.

KOOKOO provides all the above features and more. Talk to us to get a free demo.

Please follow this blog for more updates on how to enable SEBI call recording compliance using cloud telephony.

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