NICE unveils cloud-based compliance solution for trade recording management

NICE has announced its new cloud-based compliance solution for omnichannel trade recording management called NTR-X.

Built on the NICE trading recording (NTR) platform for secure and reliable voice recording, NTR-X captures all regulated employee communications modalities, including traditional, unified, and mobile, through a centralized platform.

A consolidated and centralized approach for managing trade recording estates and footprints would mean that financial services firms can finally eliminate the need for costly and dedicated local IT resources. Furthermore, organizations can deploy NICE’s NTR-X globally with support for local data capture and storage requirements.

"Although the rest of the world has changed, trade-related recording obligations have not,” said Anna Griem, senior analyst at Opimas, LLC.

Griem continued, “Firms are adjusting to monitor their workforces, which are now often remote. 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.”

NICE NTR-X’s also helps reduce compliance and regulatory risks with automated recording checks and provisioning of users/resources. This tool’s other interesting features include transcription, bulk call extraction, system management and administration, and compliance assurance reporting.

Finally, NTR-X’s open application programming interfaces (APIs) enable integration with upstream and downstream applications for real-time alerting and actionable intelligence so firms can make informed decisions.

NICE executive vice president Chris Wooten adds, “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.”