Futures and Options broker Kyte Broking Limited, part of the Market Securities Group, has announced the introduction of WhatsApp and Telegram as approved customer communication channels, significantly enhancing client interaction capabilities. This development comes as a solution to the previous challenges posed by strict regulatory demands for broker-client communications.
Previously classified as ‘off-channel’ by the firm, WhatsApp and Telegram have been integrated into Kyte’s communication framework in collaboration with LeapXpert and SteelEye, firms specialising in compliance technologies. This strategic partnership, which allows Kyte’s brokers to engage with clients on two of the most popular messaging platforms, allows for the seamless capture, archiving, and monitoring of communications, ensuring adherence to the regulatory standards set by the Financial Conduct Authority (FCA), the Securities and Exchange Commission (SEC), and other global regulatory bodies.
The Leap Work application facilitates advanced monitoring capabilities for WhatsApp communications, while Telegram interactions are managed through its native application. This compliance-enabled solution is adaptable to both corporate-owned and personal devices, with provisions for integrating additional communication channels as required.
Joergen Jaehnig, Deputy Head of Compliance at Kyte Broking, commented: “At Kyte Broking, we are committed to delivering exceptional service to our clients while upholding the highest standards of compliance. The partnership with LeapXpert and SteelEye has transformed our client communications and improved the efficiency of our communication processes.”
Avi Pardo, Co-founder and CBO of LeapXpert, added: “I’m thrilled to see the positive fruit of our partnership with SteelEye and the value it has already brought Kyte Broking. We have witnessed increasing demand for our solutions in both regulated and non-regulated markets in the past year, with a particularly significant surge among global energy and commodity trading firms, all eager to adopt modern channels in a governed and compliant manner. We’re dedicated to working with each firm to provide responsible business communications solutions.”
“Enabling firms like Kyte Broking to better serve their clients while maintaining the highest standards of compliance is fundamental to what we do,” said Matt Smith, CEO of SteelEye. “This is a great example of how technology can enable financial firms to comply with regulation while still operating competitively and providing excellent customer service.”
The initiative marks a significant shift in Kyte Broking’s approach to meeting client demands for accessible and efficient communication methods, while still maintaining the highest standards of regulatory compliance.
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