SEBI’s long back mandated Brokers/Mutual Funds distributors to personally verify their clients, a process known as in-person verification (IPV). Stock Brokers and MF Distributors were facing lots of difficulties in performing IPV of outstation clients. Most of the time spent in educating the customers (especially the one who want to enroll as a new client) about Installing Skype/Teamviewer kind of products to access the Clients Web Camera which is mandatory to do IPV for outstation clients(To verify client pancard, address verification in short in-person Verification).
Instead of Educating the clients on Installing Teamviewer, Skype kind of products and explaining how to use for a newly enrolling client who is really not good at handling computers, broker houses and mutual funds can leverage technology and cloud based solution to create a web app which can be integrated easily with their Website and in return ease the work of the end customer(mostly outstation clients) could be a welcoming action and brings faster conversion of clients. It not only brings a faster conversion but also a smarter way of engaging with their customers and understanding their requirements in a better manner.
One such solution is OpenTok which uses WebRTC technology to bring real time communication capabilities between any device and any browser. WebRTC is an open source project aiming to enable the web with Real Time Communication (RTC) capabilities. OpenTok is the leading cloud platform for adding live video, voice & messaging to your websites and mobile apps. With a cost of $50/month brokers houses, mutual funds and even banks can bring lots of engagement between the business and the end customers. Here is a simple video which describes what OpenTok is all about.
What is OpenTok?
Enabling WebRTC technology not only solves the end customers pain in opening an account but also bring Strong Credibility to discount brokers like Tradejini, Zerodha, RKSV and many other discount brokers where 60-80% of their customers are mostly outstation clients.
Moreover OpenTok is Open Source and can be easily cloned to cloud based application platforms like Heroku.
Check out the Technical Instructions to create your own Web app for creating engaging customers. More info on the Github link given below
Try out WebRTC Demo using OpenTok’s WebRTC library for video and OpenTok signaling for live chat and learn the power of simplicity. To test this ask your friend/family/co-worker to join your meeting room and enjoy the realtime engaging experience.
What are the other business that can benefit from WebRTC technology in creating engaging customers? Your can pour your creative ideas and suggestions below as comments.