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How stock broking companies can use IVR

Timely information and timely action can earn a lot for any stock trading company or may lose for the lack of it! With advent of online share trading systems where anyone an buy/sell shares online using a PC with internet connection, lot of automation has taken place increasing profitability to any share trading companies.

Presently, many share trading companies maintains dedicated call center to serve their clients where many of the incoming calls are just to check their portfolio positions for the day! Also SMS ( Short Messaging Service) is being used to update both share trading tips as well as portfolio status to registered numbers.

IVR ( Interactive Voice Response) System can be used to perform regular enquiries like portfolio status, stock market update etc. which will free up human agent in call center for other tasks to assist actual stock trading assistance to callers.

Both Inbound IVR and outbound IVR can be deployed by any share trading company to automate timely information update to its clients as well as provide their portfolio status on demand.

1. Inbound IVR

Inbound IVR, where caller will make a call to the IVR number, can be used to provide the following updated and rea-ltime information :-

a. Portfolio Status
A quick information about the current portfolio status is what everyone wants to know at the end of the day or weekly to help plan then about buying or selling shares or doing other stock trading. Getting updates on IVR is much easier and its available on any phone both land-line and mobile.

b. Quick Stock updates
A caller can also hear latest stock exchange index, top performing companies, top loss making shares etc.

c. Call transfer to human agents
IVR can provide option to transfer the call to human agent intelligently like while announcing the top earning shares so that it may persuade them to do any transaction.

2. Outbound IVR

Outbound IVR can be used same wa as inbound IVR as described above,e except that the all would be initiated by IVR to the client.
The only difference is, the outbound call can be triggered when some important announcement or alert ha to be sent to the client. Some sudden fluctuation of share price owned by the client may trigger a call to him informing about the fluctuation and then IVR can immediately transfer the call to human agent for further assistance.

Voice call alert are more reliable as it can be ascertain either the call was received by the called party or not in time. In SMS alert or EMail alert, the client may not open the SMS or email in time which may cause him to miss the important update.

Outbound IVR is also useful to provide clients with timely stock tips which are very urgent in nature.

So, if you are in share trading business and if you are not using IVR, then most probably you are going to lose out to your competitor who is using IVR!

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{ 1 comment… add one }
  • shailendra March 24, 2011, 11:40 pm

    nice application,,, is this kind of service working anywhere???

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