WebRTC in the Financial Services Industry

by | Feb 4, 2016 | News, Thought Leadership

One of the most defining aspects of Cloud9 is the unconventional way that we have adapted Web Real Time Communication (WebRTC). Perceived by many as a technology that allows for in-browser, zero-download, voice and video communication, Cloud9 twists this technology to support a downloadable application for use in the B2B market – specifically the financial services sector.

Click here to see the orginal interview with our CTO and Co-Founder, Leo Papadopoulos, on The New Dial Tone.

Financial services firms have very unique requirements. They need a communications solution that provides reliability, security, compliance and superior customer support, as well as something that allows them to not only connect within their organization, but also facilitate communication with other companies.

In a conversation with our CTO and Co-Founder Leo Papadopoulos, The New Dial Tone asked the million-dollar question: What was your main reason for selecting WebRTC technology to support your product?

Why Cloud9 Uses WebRTC

“We looked at traditional stacks like SIP, but they were way too stringent, required expensive and inflexible application servers, forced us to use signaling that simply did not meet our needs, and did not include the actual voice engine itself. We quickly realized that all the existing protocols were really just variants of old telephony protocols. Quite simply, you cannot develop modern communications services using protocols made to simulate phone lines,” says Leo in his interview.

It was clear that we needed to create something not only new, but supported by a modern, adaptable infrastructure.  That magic solution was WebRTC.

It seemed like it was almost designed for us. Benefits built into WebRTC included:

  • Voice and video connections
  • Methods for facilitating peer-to-peer communication, even when involving private networks
  • Ways to secure voice communication
  • Low-delay, high fidelity audio that allows for natural conversation
  • It did not force us to use a predefined signaling protocol

Why WebRTC works for Financial Services

On top of these features we were able to add our own intellectual property that allows us to deliver the unique needs of our customers in the financial services industry:

  • A user interface that matches the functions needed for trader voice communication
  • Reliability and automatic recovery which prevents interruption and keeps communication continuous
  • Instrumentation that allows us to deliver proactive support
  • A design that works for groups and teams as well as individuals
  • Compliance features that regulatory agencies require from financial services firms

The fact that Cloud9 runs on an application is also key to the financial services industry customers we serve. This allows us to deliver the performance, service levels, and support that is expected by Fortune 100 companies.

With support from Amazon Web Services, which we use for our servers, storage, and databases, we have been able to build a high performance global communication solution without ever resorting to a carrier or telecommunications provider.

“We see a very broad opportunity for WebRTC,” says Leo. “In fact we think it’s transformational and will ultimately change the way you think about communications, messaging, and everything from browsers and call centers to the very way you make a call or message with your cell phone.”

Learn more about how WebRTC is killing the legacy turret system in the financial services industry.

To learn more about the Cloud9 application, check out this video.