CDSL adopts scalable and omnichannel APIs to process large volumes
Delivers regulatory communication to its customers with Karix SMS & Email solutions
Overview
Central Depository Services Ltd. is the first listed central securities depository based in Mumbai.
Challenge
CDSL was exploring alternate channels to notify their customers regarding Regulatory mandated
communication. They were looking at high volumes but the timelines were tight.
Central Depository Services Limited (“CDSL”) was founded in 1999 to fulfill one goal: Convenient, Dependable, and secured depository services. Over two decades later, everything they have done – the values they have built on, dematerialization of various asset classes, e-services – have all been in support of that singular goal, at an affordable.
They are a Market Infrastructure Institution (MII) and a crucial part of the Capital market structure, providing services to all Market participants – Exchanges, Clearing Corporations, Depository Participants (DPs), Issuers, and Investors.
Central Depository Services Limited (“CDSL”) was founded in 1999 to fulfill one goal: Convenient, Dependable, and secured depository services. Over two decades later, everything they have done – the values they have built on, dematerialization of various asset classes, e-services – have all been in support of that singular goal, at an affordable.
They are a Market Infrastructure Institution (MII) and a crucial part of the Capital market structure, providing services to all Market participants – Exchanges, Clearing Corporations, Depository Participants (DPs), Issuers, and Investors.
Challenge of sending regulatory mandated communication
Being one of the two authorized depositories in India to hold financial securities like shares, bonds, and mutual funds in electronic form for customers, sending communication within stringent timelines was crucial to CDSL.
They wanted to use communication channels to seamlessly get the word out regarding mandatory regulatory communication to customers. The expectation was that the platform they were looking at would be able to handle extremely high volumes and that the setup would be made available to them within tight deadlines. CDSL also wanted the reporting system to be customized to their internal mapping and tracking logic.
Enabling faster and high-volume communication
To meet the desired goal of sending massive volumes of traffic in short timelines, Karix entended the SMS & Email platform with scalable and quick processing capabilities to CDSL. These smart solutions have a high delivery rate and a retry mechanism, expanding their possibilities further still. The smart solution Karix also assisted in integrating and delivering the bespoke reporting panel in order to meet the regulatory deadlines that CDSL was bound to. Using an advanced throttling mechanism, Karix was able to aid CDSL in processing high-volume communication.
Challenge of sending regulatory mandated communication
Being one of the two authorized depositories in India to hold financial securities like shares, bonds, and mutual funds in electronic form for customers, sending communication within stringent timelines was crucial to CDSL.
They wanted to use communication channels to seamlessly get the word out regarding mandatory regulatory communication to customers. The expectation was that the platform they were looking at would be able to handle extremely high volumes and that the setup would be made available to them within tight deadlines. CDSL also wanted the reporting system to be customized to their internal mapping and tracking logic.
Enabling faster and high-volume communication
To meet the desired goal of sending massive volumes of traffic in short timelines, Karix entended the SMS & Email platform with scalable and quick processing capabilities to CDSL. These smart solutions have a high delivery rate and a retry mechanism, expanding their possibilities further still. The smart solution Karix also assisted in integrating and delivering the bespoke reporting panel in order to meet the regulatory deadlines that CDSL was bound to. Using an advanced throttling mechanism, Karix was able to aid CDSL in processing high-volume communication.
Overview
Central Depository Services Ltd. is the first listed central securities depository based in Mumbai.
Challenge
CDSL was exploring alternate channels to notify their customers regarding Regulatory mandated
communication. They were looking at high volumes but the timelines were tight.
“In our field of work, meeting regulatory deadlines is vital. Karix not only helped us fulfill these deadlines but also assured us that they could manage these massive volumes without compromising the customer experience.”
– Central Depository Services Limited (CDSL)
“In our field of work, meeting regulatory deadlines is vital. Karix not only helped us fulfill these deadlines but also assured us that they could manage these massive volumes without compromising the customer experience.”
– Central Depository Services Limited (CDSL)
Reporting has never been easier
Due to the streamlined process, CDSL could quickly integrate with the Karix SMS & Email platform and meet the regulatory deadline. Even for very high volumes of SMS and emails, seamless processing could be achieved. Karix also introduced a customized reporting panel that simplified tracking and analytics. With this, they were able to deliver real-time and detailed statistics which made reporting a breeze.
Results
Processing of high volumes of SMS & Email was achieved