Knowlarity’s Cloud Telephony Enables Huge Recording
In order to improve the effectiveness of supervision and bring to light the rampant cases of frauds and disputes over trade execution in stocks, SEBI has issued a guideline to all stockbrokers whereby they need to maintain complete documented records of all client transactions.
The financial watchdog has asked brokers to equip themselves with facilities that allow for complete recording of client transactions conducted over various mediums such as email, voice recordings for phone conversations etc. latest by January 2018. In such a situation, Knowlarity, the cloud communications system provider in South Asia and other regions across the world, has come to the rescue of the broker community.
Without any need to implement a heavy conventional PBX system or establishing a new IT and hardware framework, Knowlarity’s cloud communications products allow for complete recording of each and every call, 24×7. Moreover, the complete database is stored on the cloud, leading to a vast amount of storage that is secure and at the same time, easily accessible.
“SEBI’s move came after discrepancies reported in client orders and actual stock transactions began increasing rapidly. Since the SEBI has further stipulated that in case of disputes, “the burden of proof will be on the broker to produce the above records for disputed trades”, it is essential for stock-brokers to employ fool-proof recording systems. Knowlarity’s cloud telephony based software not only serves this purpose immaculately but also provides brokers with a superior client response mechanism that allows users to receive and professionally respond to clients 24×7. With a deadline of January 2018, we expect a surge in demand of our telephony services, and look forward to provide easy installation of our systems to a large number of users at minimum cost and hassles,” said, Ambarish Gupta, Founder and CEO, Knowlarity Communications.
Indian bourses and SEBI have been trying to check the rising problem of disputes between clients and brokers over unverified transactions. In light of such a scenario, it is important to establish an information-sharing mechanism that was transparent and provided solid evidence to expose violators and strengthen the overall ethical framework of India’s financial ecosphere.
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