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Home > Industry Specifications > BFSI > Stock Broking
Spurge of new means of communication has revolutionized BFSI sector. Among all of these, SMS messaging has created significant impact. It has opened arrays of new innovative services just at a click. Customer is now aware of his latest transaction. The more and more services are being brought under SMS messaging umbrella as customer is really benefiting in terms of cost as well time.  The major challenge for BFSI now is to bring more services under SMS
channel within no time and at the same time enhance customer
satisfaction by offering excellent service consistently. Considering this,
First of its kind, vConnect BFSI is a solution developed by experienced
professionals to meet unique demands of BFSI. It is state-of-the-art
technology which meets all your current as well as future needs. It
prospers your growth and grows in process. It helps you to simplify
complex systems and offers seamless integration.
In recent times, the role of Stock broking firms has changed from a simple
execution of trades to providing an expert advice along with execution. In this
case, a broker has to understand the need of the client, his risk assessment,
period of holding and returns expectation to provide him a research-based advice. Mobile messaging has distinct advantages over the phone, as it is instant, can be automated and one need not wait for the phone line to be free. Typical push services would include: - Pre-market trading tips
- DP Information
- DP Information
- Send confirmation on DEMAT requests
- Send alerts on DEMAT/repurchase requests by the clients
- Periodic account balance reporting (say at the end of month);
- Successful or un-successful execution of a standing order
- Successful payment of a transaction requested
- Insufficient funds
- One-time password and authentication
Typical pull services would include:
- Research Tips
- Intra-day buy/sell tips to the clients
- Relevant information of the stock.
- Stop payment instruction on a cheque
- Foreign currency exchange rates enquiry
- Query last few transactions based on account.
Quality of service in SMS stock Because of the security concerns, it is extremely important that SMS gateway providers can provide a decent quality of service to stock brokers in regards to SMS services. Therefore, the provision of Service Level Agreement (SLA) is a requirement for this industry; SLAs give the service parameters in which a messaging solution is guaranteed to perform. The convenience factor The convenience of executing simple transactions and sending out information or alerting a customer on the mobile phone is often the overriding factor that dominates over the skeptics who tend to be overly bitten by security concerns. As a personalized end-user communication instrument, today mobile phones are perhaps the easiest channel on which customers can be reached on the spot, as they carry the mobile phone all the time no matter where they are. Besides, the operation of Stock functionality over phone key instructions makes its use very simple. This is quite different from internet stock which can offer broader functionality, but has the limitation of use only when the customer has access to a computer and the Internet. Also, urgent warning messages, such as SMS alerts, are received by the customer instantaneously; unlike other channels such as the post, email, Internet, telephone stock, etc. on which notifications to the customer involves the risk of delayed delivery and response. Benefits of vConnect BFSI solution
- One interface for mobility solution
- Customized according to your requirements
- Flexible to adopt new requirements within no time
- Scalable on demand in seconds
- Easy adaptability to new technologies
- Value for money
vConnect BFSI differentiator
- Provider of state-of-the-art technology with robust and reliable infrastructure
- Redundancy of operators by virtue of being connected to multiple operators
- Redundancy of servers with queue management, failover mechanism and minimum push time
- Vertically as well as horizontally scalable solution in terms of architecture
- Least time to market and customize
Benefits of SMS channel
- Personalized as well as mass communication
- 7x24x365 as per customers need
- Automated SMS messages
- Information on demand
- Cost effective
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