NICE Systems has reportedly announced introduction of its Proactive Compliance Solution for Trading Floors, which offers financial institutions an advanced compliance management system to help them address requirements under the Dodd Frank Act. The solution uses analytics technology to identify infractions, detect and mitigate risk, and effectively manage day-to-day compliance.
Yochai Rozenblat, President of the NICE Customer Interactions Group, said, “The Dodd-Frank Act is generating a storm of new regulations globally that forces trading floors to look for advanced solutions for proactive compliance. NICE’s innovative technology offers valuable cross-channel insights that enable financial organizations to make sense of the vast amount of information exchanged during trade communications in order to more effectively manage compliance.”
The compliance solution combines NICE’s speech analytics technology with Attivio’s Active Intelligence Engine, to deliver real-time insights on all interactions occurring across trade communications. If an interaction takes place, the system automatically generates an alert.
With the new compliance solution, organizations can easily filter and search through every type of interaction in order to reconstruct investigation trades. The solution also includes the indexing of all interactions, including calls, emails, and chats, as well as an intelligent investigation processes that automatically highlights compliance risks within these multi-channel communications.
