NICE COMPASS Real-Time Recording Reconciliation Now Supports IPC Unigy Environments
08 Juillet 2019 - 12:30PM
Business Wire
Financial services organizations that use IPC
Unigy can now ensure they are capturing every trader voice
communication in compliance with Dodd Frank, MiFID II and FX Code
of Conduct
NICE (NASDAQ: NICE), the leading provider of financial
communication compliance solutions, today announced that its
NICE COMPASS compliance assurance solution with real-time
recording reconciliation now supports the IPC Unigy trading and
communications platform. Financial services organizations (FSOs)
that rely on the IPC Unigy platform can now have complete
confidence that all regulated employee communications are always
being recorded in compliance with major regulations. The NICE
COMPASS real-time recording reconciliation feature is also
available for Cisco Unified Communications Manager
environments.
Dodd Frank, MiFID II, and FX Code of Conduct all mandate that
trade-related conversations must be recorded. Recording lapses can
expose firms to costly remediation and penalties. FSOs are also
required to report lapses to regulators, including the nature and
extent of problems and actions taken. Today, FSOs predominantly
rely on random, manual recording checks to detect when calls go
unrecorded. The problem with this ‘hit or miss’ approach is that
recording lapses often go undetected until a regulator requests the
recordings and the FSO discovers that they are missing,
NICE COMPASS real-time reconciliation helps insulate
firms from regulatory scrutiny, fines and reputational damage by
using sophisticated algorithms to systematically reconcile metadata
from communications platforms (like the IPC Unigy system) with
actual conversations recorded in the NICE Trading Recording (NTR)
system, to check for missing or partially recorded calls. If
discrepancies are found, stakeholders are automatically notified so
they can immediately troubleshoot underlying issues, and
proactively notify regulators. NICE COMPASS also features
dashboards and reports so that firms can keep tabs on the health of
their entire global recording estate.
“We’re excited to now offer this essential compliance capability
to IPC Unigy customers through our NICE COMPASS solution,” said
Chris Wooten, Executive Vice President, NICE. “By leveraging
NICE COMPASS for compliance assurance, FSOs can ensure compliance
with record-keeping regulations, avoid fines and drawn-out audits,
reduce compliance costs through automation, and improve their
responsiveness to regulators.”
For firms currently using the NICE Trading Recording System
(NTR), NICE COMPASS may be added to the system to take
advantage of real-time recording reconciliation and NICE COMPASS'
other robust compliance assurance capabilities.
NICE COMPASS helps FSOs streamline
compliance assurance processes through automated provisioning,
system health checks (real-time recording reconciliation and
automated daily recording checks), bulk call extraction, compliance
assurance reporting and automated transcription.
- For further information on NICE COMPASS, please click
here.
- For further information on the NICE Trading Recording System,
please click here.
- For more information on NICE Financial Compliance solutions,
email NICE at fmc@nice.com.
About NICE Financial Compliance NICE is the world’s
leading financial compliance solution provider, serving more than
90 percent of the largest investment banks globally. NICE’s
compliance solutions assist customers in the capture of trade
conversations and trades, analyzing them for potential risk, and
correlating trade conversations with trades for trade
reconstruction. The company's compliance solutions make automated
and intelligent holistic trade compliance programs possible and
enable FSOs to more efficiently comply with regulatory
requirements, including MiFID II, MAR, FX Code of Conduct,
Dodd-Frank and future directives. More info at
www.nice.com/compliance.
About NICE NICE (Nasdaq: NICE) is the world's leading
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.
www.nice.com.
Trademark Note: NICE and the NICE logo are trademarks or
registered trademarks of NICE Ltd. All other marks are trademarks
of their respective owners. For a full list of NICE’s marks, please
see: www.nice.com/nice-trademarks.
Forward-Looking Statements This press release contains
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements, including the statements by Mr. Wooten, are based on
the current beliefs, expectations and assumptions of the management
of NICE Ltd. (the Company). In some cases, such forward-looking
statements can be identified by terms such as believe, expect, may,
will, intend, project, plan, estimate or similar words.
Forward-looking statements are subject to a number of risks and
uncertainties that could cause the actual results or performance of
the Company to differ materially from those described herein,
including but not limited to the impact of the global economic
environment on the Company’s customer base (particularly financial
services firms) potentially impacting our business and financial
condition; competition; changes in technology and market
requirements; decline in demand for the Company's products;
inability to timely develop and introduce new technologies,
products and applications; difficulties or delays in absorbing and
integrating acquired operations, products, technologies and
personnel; loss of market share; an inability to maintain certain
marketing and distribution arrangements; and the effect of newly
enacted or modified laws, regulation or standards on the Company
and our products. For a more detailed description of the risk
factors and uncertainties affecting the company, refer to the
Company's reports filed from time to time with the Securities and
Exchange Commission, including the Company’s Annual Report on Form
20-F. The forward-looking statements contained in this press
release are made as of the date of this press release, and the
Company undertakes no obligation to update or revise them, except
as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190708005104/en/
Corporate Media Contact Cindy Morgan-Olson, 201-551-5202,
cindy.morgan-olson@niceactimize.com
Investors Marty Cohen, +1 551 256 5354, ET, ir@nice.com
Yisca Erez +972 9 775 3798, CET, ir@nice.com
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