Dubai Financial Market secures communications

Avaya IP network provides Dubai Financial Market with advanced productivity features such as a virtual contact centre and call recording and monitoring applications.

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By  Sarah Gain Published  May 22, 2005

Dubai Financial Market (DFM) will deploy a new Avaya internet protocol (IP) telephony solution. Some 20 broker firms, located in DFM, will be connected to the new network, providing IP telephony, unified messaging, call recording and a virtual contact centre solution. The Avaya IP solution replaces DFM’s existing traditional telephone system bringing a wide range of benefits and robust security features to its employees and stockbroker clients, such as end-to-end encryption to protect calls and Avaya call recording to meet UAE regulatory requirements. All telephone conversations conducted over DFM telephone lines are recorded to ensure that DFM can retrieve these calls in the event of any disputes between investors and brokers or other parties. As the Avaya solution uses digital recordings, the storage and monitoring of calls becomes much easier. This means that DFM can easily create multiple sets of recordings and store them in different locations to facilitate any disaster recovery incidents. “The solution cuts down on the amount of cabling and server space we need, and also allows us to service our off-site clients more efficiently by seamlessly connecting remote office locations to the central network. The new IP technology also gives us much better facilities for call monitoring to meet compliancy requirements,” explains Hassan Al Serkal, information technology and compliance manager at DFM. The Avaya solution includes IP phones and an infrastructure to connect the different broker firms that operate at DFM, as well as DFM staff. The flexibility of the new IP-based network also allows DFM to connect new users to the network in a matter of minutes, and to expand the solution easily, even to remote sites. According to Essa Abdulfattah Kazim, director general of DFM, “Dubai Financial Market is committed to providing the highest standard of services and tools to its brokers, helping them stay up to date with global financial markets and in permanent touch with their customers. Reliable communications are critical in the fast-moving financial world. [The new system] will help brokers to keep in touch with clients even when they are away from their offices, and also provide a better all-round service to DFM investors.” In the second phase of the project, DFM will deploy an Avaya contact centre solution that will be used as a self-service information system for customers, and also create a dedicated virtual contact centre for each of the broker firms. DFM is also exploring other innovative solutions for brokers, including the extension of telephony services to PDAs and laptops using Avaya IP Softphones. This would enable brokers to securely access their networks and stay in touch even on the move.

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