NICE Launches New Cloud-Based Compliance Solution

NICE has announced the launch of NTR-X, a next-generation cloud-based compliance solution for omnichannel trade recording management.

Stringent regulations and complexities arising from new communication modalities and remote, distributed workforces are widening compliance gaps, placing financial and energy trading firms at further risk of fines and reputational damage.

To address these challenges, NICE  has introduced NTR-X, a fully integrated, cloud-ready omnichannel compliance recording and assurance solution.

Building on NICE Trading Recording, the most widely deployed trading compliance recording platform in the financial services industry, NTR-X captures all modalities of regulated employee communications – traditional, unified and mobile – in a single platform.

Offering a consolidated, centralized approach to managing recording estates and footprints, NICE’s NTR-X can be deployed globally while still enabling firms to adhere to local capture and storage requirements.

The solution also gives financial services firms the benefit of a central vantage point into all global regulated users and communications, NICE’s NTR-X reduces regulatory risk, removing maintenance hurdles and reducing the need for costly, dedicated, local IT resources.

Two top-ten global investment financial institutions that have already selected NICE’s NTR-X cited its higher performance, lower total cost of ownership (TCO), smaller footprint, and its ability to simplify and centralize management of their global recording requirements.

“Although the rest of the world has changed, trade-related recording obligations have not. Firms are adjusting to monitor their workforces, which are now often remote,” noted Anna Griem, Senior Analyst, Opimas, LLC, a leading capital markets consulting firm.

“Now more than ever, firms are demanding a lot from their communications recording solutions, especially in terms of the channels they are able to cover, the flexibility of deployment options, and the option to roll out improvements and new services easily across their user base.”

Chris Wooten, Executive Vice President, NICE, said: “As the environments in which financial services and energy trading firms operate become inherently more risky, costly and complex, NICE’s passion for innovation has led us to create a one-of-a-kind compliance recording and assurance solution, offering simplified compliance for a complex world.”

“Regardless of the communication modalities regulated employees use or where they work from, firms can cost-effectively manage their entire global recording footprint to increase compliance with key regulations.”

“NTR-X also provides a seamless upgrade path for current NICE Trading Recording (NTR) customers and a proven cloud-ready platform that speeds future migration.”

NICE NTR-X’s Capabilities Also Include:

• Automated compliance assurance and complete lifecycle management of data: NTR-X’s built-in compliance assurance capabilities help firms reduce compliance risk and improve responsiveness to regulators by automating the complete life-cycle management of data. NTR-X automates recording checks and provisioning of users (moves, adds and changes); transcription (offered as a cloud-based service); bulk call extraction; system management and administration; compliance assurance reporting; tracking and managing legal holds; and the requirement to provide evidence of compliance to regulators.
• Cloud-ready, microservice architecture: NTR-X can be deployed as an on-premise, hybrid cloud, private cloud, or pure cloud solution for added versatility and lower total cost of ownership.
• Open, modern design to enable firms to take control of data: NTR-X’s open standards design gives firms the highest degree of flexibility for storing, securing and managing data. Open APIs also make data more accessible and enable integration with upstream and downstream applications for real-time alerting and actionable intelligence.

To learn more about NICE NTR-X, visit: www.niceactimize.com

Author: Robyn Coppell