LeapXpert and SteelEye Compliance Adds Channel Options for Leading Broker
The London-based Futures and Options broker Kyte Broking Limited has added WhatsApp and Telegram for client communications thanks to the joint compliance solution by LeapXpert and SteelEye.
According to Kyte Broking, the new channels have improved both client engagement and customer experiences.
Furthermore, the brokerage is now able to meet full compliance and regulatory requirements set by the SEC, FCA, and other global regulators.
Joergen Jaehnig, Deputy Head of Compliance at Kyte Broking, left a glowing review of the compliance solution: “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.”
Following “rigorous research,” Kyte Broking chose LeapXpert and SteelEye’s solution to capture, monitor, and archive communications across WhatsApp, Telegram, and other channels.
The compliance solution can be used on both corporate and personal devices, with the possibility of adding more channels as and when they are needed.
By utilising the Leap Work application, which includes advanced monitoring, brokers are able to communicate on WhatsApp without worrying about potential regulatory infringements.
Previously, WhatsApp and Telegram were “off-channel” communications oftentimes making it a challenge for the firm to balance client communication preferences with strict regulatory requirements.
Avi Pardo, Co-founder and CBO of LeapXpert, was pleased to see its partner solution working effectively for Kyte Broking:
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.”
LeapXpert and SteelEye Compliance Partnership
The “responsible business communication pioneer” LeapXpert partnered with SteelEye, an end-to-end regulatory reporting platform provider, in February 2023.
Together, they allow firms to capture and monitor data from a wide range of channels.
eComms data captured by LeapXpert from SMS, Voice, WhatsApp, WeChat, Telegram, iMessage, Signal, and more is relayed to SteelEye for compliance record keeping and surveillance.
As a result of LeapXpert’s integration with Microsoft Teams, financial organisations are able to message clients using SMS, WhatsApp, and WeChat via the Teams platform.
Using Leap Work, Teams users can change from messaging channels to voice calling through the Teams Phone application.
Recent LeapXpert Developments
In February this year, LeapXpert and ASC partnered to deliver a compliance recording service for external Teams voice and text communications. The partnership was partly the result of increased regulatory scrutiny on communication channels for regulated industries and entities.
LeapXpert also revealed its new AI-powered ‘Maxen’ solution last month, which aims to revolutionise client communications.
Now generally available, Maxen creates Communication Intelligence by combining data from various external and internal communication channels, such as WhatsApp, iMessage, Slack, and Microsoft Teams. Using this data and enterprise knowledge can produce comprehensive insights.
