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NICE provides the finance industry with its first inclusive regulatory compliance solution, the NICE Perform Compliance Suite. This suite offers restricted liability, fraud detection, business intelligence, centralized storage options, and more in a VoIP environment with inclusive business continuity support.
By using telephony voice files as client records to provide irrefutable evidence of what was said on the phone, trading activity can be supervised and monitored both by reviewing past interactions and in real time. Secure workflows solutions help enforce internal policies for permitting access to sensitive information stored in voice archives. And the NICE Perform Compliance Suite can undertake Interaction Analysis to extract more and better insights from these interactions.
The NICE Perform Compliance Suite provides financial service companies and other organizations with:
- An integrated recording and storage solution for risk management.
- Compliance with all local and international regulatory requirements.
- Secure content capture and clear audit trail for corporate and regulatory compliance.
- A complete range of solutions for any communications technology, including VoIP.
- Compliance with regulations and guidelines using sophisticated monitoring policies.
- Integrated dispute management tools for liability limitation.
- Easy extraction of recordings to meet business needs and assist in investigative processes.
Risk Management Solutions
The NICE Perform Compliance Suite offers a fully-automated IP-based solution with sophisticated storage, password-bound retrieval, and time-restrained management capabilities, utilizing industry-leading search, rapid retrieval and replay of interactions to resolve disputes. The system lets users maintain a strict authorization and authentication process, in line with legal requirements and internal regulations.
Regulatory Compliance and Liability Management
Every financial institution must retain records of all its dealings with customers and other institutions in accordance with the regulations current in the country in which it is doing business.
The NICE Perform Compliance Suite does more, and assures institutions that, on reaching the time limits set by the regulatory authority, they can delete these interactions completely and irrevocably.
Voice Surveillance
The NICE Compliance Suite offers a voice surveillance procedure that uses word spotting to provide an efficient and effective solution. This involves:
- Setting the word spotting engine to analyze all calls where certain words are mentioned.
- Analyzing the calls and flagging those calls containing specific words.
- Notifying supervisors of the existence of flagged calls awaiting their review.
- Allowing staff to continue working undisturbed while the system performs the above analysis.
Dispute Management
The NICE Compliance Suite provides essential dispute management tools, including a sophisticated search capability that can query both the content and environment of the interaction. The information derived from these queries, together with Suite's immediate search capabilities and rapid retrieval and replay of interactions, provide a complete dispute management solution.
Retention Management
Records can be retained (archived) for a pre-defined retention period. The NICE Compliance Suite ensures that once the retention period has elapsed, the interaction is completely deleted and cannot be reconstituted using electronic means.
Business Intelligence Solutions
NICE provides the query, analytics and reporting capabilities to help financial institutions make better strategic use of the vast amounts of data hidden in their interactions. The NICE Perform Compliance Suite deliver accurate, timely insights to the right people in the format that they prefer, and helps solve key business issues.
Platform Scalability and Mobility
NICE Perform provides a highly scalable and extremely flexible solution, which can grow seamlessly with changes being totally transparent to the user. By providing centralized recording and storage, NICE reduces the cost of branch expansion in terms of installation, running, and of management. And as the organization moves to hybrid and pure IP infrastructures, the NICE solution remains unchanged and highly effective.
NICE's central storage and management solution is designed to operate in environments such as branch recording, and is based on bi-directional data replication. This means that data, programs and other definitions are sent from the central server to the branch locations, and replicated interaction and recording data are sent back to the central server. All processes and reporting take place in a unified manner allowing cross-site analysis.
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