The entry of micro-investors into the stock market has been highlighted and the stock market is facing a significant increase in demand for entry; An event that is normally welcomed by all stock market participants, but in recent months, the growth in demand for investment in the stock market has been accompanied by a relative growth in the number of coronary heart disease.
According to the Gold Cafe , quoted by Eqtesadnews, field observations show that these days, the insistence on the need for face-to-face authentication has faced applicants for investing in the stock market with unforeseen difficulties.
Classification; This time for authentication
Simultaneously with the emphasis on social distancing, there has been a significant increase in referrals to authentication centers for identification and issuance of stock codes. Although it has been said that the number of authentication centers will be increased and the possibility of in-person authentication will be provided, despite all these promises, the applicants are still involved in the tedious process of authentication and issuance of share codes in these offices for hours.
Sitting in crowded counter offices is not the only problem for clients, as many clients complain about the constant interruption of the SJAM system in counter offices.
What do counter offices do?
According to the spokesman of the Justice Shares Liberation Steering Committee, 100,000 people entered the stock exchange annually until 1995, but this number has reached 1.6 million since the beginning of this year. Therefore, in order to expedite and improve the access of their customers to enter the brokerages, the brokerage agencies, under a contract with 300 government counter centers across the country, entrusted all the authentication and code-sharing services to these offices.
According to the Technology and Innovation Advisor of the Central Securities Depository, 1,500 brokerage branches and selected banks are also taking action. Although these measures have been taken due to the increase in shareholders' access speed, due to the current situation and limited traffic of citizens, as well as the executive capacity of government counter offices, many challenges have been created for clients and because these offices have other responsibilities in their job descriptions, sometimes The shareholder spends hours engaged in the process of authentication and issuance of the share code in these offices.
Sajam; Awaiting approval
It has been said that Sajam's in-person authentication will be done based on artificial intelligence technology and with the cooperation of the Vice President for Science and Technology and knowledge-based teams. This technology is currently available to operators, but its use is subject to final approval by the relevant authorities. One month ago, Farhad Dejpsand, Minister of Economy on the sidelines of the Exchange Council, announced that due to overcrowding in the government counter offices, it was approved that all those who want to receive the exchange code be identified in absentia and electronically.
It was also announced in mid-May that the launch of a shareholder authentication system would be unveiled early next week in a ceremony attended by the Minister of Economic Affairs and Finance and some state officials to take another important step in entering the capital market.
With this news, there are still many challenges for in-person actions and shareholders are forced to come in person.
Shahin Cheraghi, a capital market expert, said: "Electronic authentication requires the approval of the Cabinet, which Dr. Dejpsand has made many efforts to ensure that all operations - whether for justice shareholders or other shareholders - are carried out in absentia. »
Once the identification is verified
Shahin Cheraghi, a capital market expert, explained about the exemption for the shareholders of justice: Deposited, no need for authentication. This means that they have a Sheba account and their identity has been verified in the bank. "According to the decision of the Supreme Leader and the approval of the council, the mobile phone number of the people and the active account number of the Central Bank are sufficient for their identification and they do not need to go to the brokerage and counter offices." According to Cheraghi, the requirement for authentication is for shareholders who do not have equity shares but need to receive a stock exchange code. For these people, according to money laundering laws, authentication is essential.
Regarding the mechanism of authentication and receiving the stock exchange code, he said: "Performing authentication to identify customers is the basis of all actions and activities in the market and can not be eliminated. Therefore, measures have been devised to improve and accelerate this activity. "SJAM's face-to-face authentication is based on artificial intelligence technology and is carried out in collaboration with the Vice President for Science and Technology and knowledge-based teams.
"Many companies have already announced their readiness, and if they receive the approval of the cabinet, they will start their activities," Cheraghi said, confirming the reason for the delay in using face-to-face authentication.
Acceptance of shareholders requires a fundamental change
As mentioned above, with a significant number of applicants entering the capital market, it seems that in-person actions and visits to brokerages can not be responsive and the forecasts made for in-person activities need to be implemented as soon as possible.
In this regard, Mohammad Mehdi Bahr al-Ulum, Vice Chairman of the Board of Directors of Maskan Bank Brokerage, said: "In any developed company, digital services and virtual facilities are the best alternative to bureaucracy. Based on the activities that have been done to replace online services, and according to the license of the Exchange Organization and the enforcement of authorizations to brokerages to use digital services, many of them provide their services in absentia for a maximum of another month. "This may be a revolution in the initial acceptance of shareholders in brokerages."
Regarding digital authentication, the official explained: "The issue of digital authentication removes many limitations, such as the need for face-to-face consultation, time consuming, creating well-known intermediaries, and other destructive and erosive factors, and seems to facilitate and "Accelerating the client's work will play a significant role."
Brokers move towards absenteeism
Bahr al-Ulum, regarding the mechanism of implementation of capital market absenteeism activities, said: . "Not all brokerages will move towards digitalization within the next month, but it seems that at least 30.40% of brokerages will move towards offline services."
Explaining that this is not a time-consuming process in general, he explained: "Some brokers may not be interested in digitization for reasons such as operating costs, which brokers do not seem to have a problem with developing development costs. "On the other hand, the market dictates the issue of digitalization to brokerages, so it seems unlikely that brokerages will not be burdened with providing in-person services."
Farshid Jahani, CEO of Jahan-e-Saham Brokerage, explained that the authentication process was already done by brokerages: “The entry of the counter offices was to facilitate the receipt of the stock exchange code for the clients. It should be noted, however, that this authentication does not apply to individuals who previously received equity dividends. "Only shareholders who need to receive a stock exchange code must authenticate."
According to him, people who do not have access to the online system make their purchases and sales by visiting brokerages in person or by entrusting stock management to brokers.
In recent years, the Exchange Organization has operationalized and updated the customer authentication system, but still no significant impact has been seen in the offline sector. "Companies that offer these services to the stock exchange have slowed down due to the current situation and the reduction in manpower due to the spread of the coronavirus," Jahani said. On the other hand, due to the lack of initial capital, restrictions are created for companies. "Therefore, these companies should be given the opportunity to improve their financial and quality conditions."
According to the CEO of Jahan Share, if the number of banks that do authentication increases and more accurate information is provided, many problems will be solved, because many people go to the counter offices because they are unaware that the banking network is also active in authentication. They refer.
