To help financial service organizations (FSOs) adhere to new strict requirements, NICE (Nasdaq: NICE), a provider of financial communication compliance and trade reconstruction solutions, has added an Automated Call Extraction capability to its NICE COMPASS solution suite, the company said.
New regulations will add to the workload for FSO compliance managers in the United Kingdom, Europe, and the US. Compounding this, regulators can demand that FSOs turn over tens or even hundreds of thousands of calls, spanning many months or years, on a moment´s notice. FSOs must respond to these requests within mandated time periods, or risk punitive fines and reputational damage.
NICE COMPASS´ Automated Call Extraction, which can be easily layered on top of the NICE Trading Recorder (NTR), provides a secure, auditable solution for responding to complex regulator requests, especially those involving large volumes of voice trading communications.
Compliance managers can quickly and easily find, retrieve and export all relevant conversations for a compliance investigation, by submitting one query, even if the communications were captured on different recorders at different locations, over extended periods of time. Voice recordings can be extracted in a fraction of the time, giving compliance managers ample time to review and verify data before responding to the regulator.
NICE is the worldwide provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions.