NICE Revolutionizes Trading Surveillance with First Integrated Voice and Transaction Analytics Solution
Cross-channel compliance solution from NICE and subsidiary Actimize extracts insights from trading calls and transactions to boost trading surveillance and investigation, reduce risk and operational costs
Ra’anana, Israel - NICE Systems Ltd. (NASDAQ: NICE), the global provider of advanced solutions that enable organizations to extract Insight from Interactions to drive performance, today introduced the financial industry’s first cross-channel Trading Compliance Solution, the Actimize Trading Interaction Surveillance Solution. The new solution combines, for the first time, insight from transactional data with voice analytics to meet growing regulatory requirements for monitoring of market abuse, insider trading and other regulatory issues. The Trading Interaction Surveillance Solution, under one unified view, automates and enhances trading surveillance and the effectiveness of regulatory investigations, thus reducing risk and operational costs, and delivering a fast ROI.
Today, regulators around the world demand more from financial institutions when monitoring and investigating insider trading and market abuse. They increasingly require identification of relevant phone calls, in addition to the existing transactional surveillance requirements, such as the Market Abuse Directive (MAD), MiFID and upcoming new requirements from the UK ’s FSA. The solution monitors, for the first time, not only the trading transactions but also related voice conversations. Using the new Trading Interaction Surveillance Solution, compliance officers will be able to improve processes and achieve broader and more effective cross-channel surveillance and investigations.
To achieve more effective cross-channel surveillance, they will be able to monitor market abuse or other activities such as conflict of interest, by automatically receiving alerts on the contents of calls relating to a specific trade, which can now be integrated with the transactional alerts that are already provided today by the Actimize Market Abuse Surveillance Solution.
To improve investigation processes, compliance officers will be able to identify suspicious trades and immediately locate those calls relating to specific trades or incidents. Once the required call is identified, they can automatically listen to the relevant part and look for certain key words and phrases as part of the investigation process. Prior to this new solution, analysts had to invest up to hundreds of hours per investigation in listening to and transcribing calls to be able to prepare a draft case which is ready for submission. The new solution enables tying together the transactional data with the data provided by the contents of the call.
The benefits of this innovative, solution are reduced risk, more effective use of labor and other resources, cost savings, and significant reduction in the time needed to respond to regulatory inquiries. As regulations demand greater oversight of multi-channel trading activities – phone calls and trades – this new solution offers a more elegant, comprehensive, and effective answer to those needs.
“The need to meet regulatory requirements and fight financial crime continues to be relevant and even critical in these volatile times" said David Sosna, CEO of Actimize, a NICE Company. “Clients have been telling us that this unique offering can help them improve research and surveillance processes, enhance operational efficiency, and reduce costs. The product received positive feedback at our recent Client Forums in New York and London where we showcased this integrated solution for the first time.”
About NICE Systems
NICE Systems (NASDAQ: NICE) is the leading provider of Insight from Interactions™ solutions and value-added services, powered by the convergence of advanced analytics of unstructured multimedia content and transactional data – from telephony, web, email, radio, video, and other data sources. NICE’s solutions address the needs of the enterprise and security markets, enabling organizations to operate in an insightful and proactive manner, and take immediate action to improve business and operational performance and ensure safety and security. NICE has over 24,000 customers in more than 135 countries, including over 85 of the Fortune 100 companies. More information is available at http://www.nice.com .
Mitigating transactional risk across enterprise silos, Actimize is a leading provider of software solutions for anti-money laundering, brokerage compliance and fraud prevention. Built on a patented, scalable and extensible analytics platform, Actimize solutions enable financial institutions to increase their insight into real-time customer behavior and improve risk and compliance performance. Actimize technology processes billions of transactions a day for many of the world’s top banks and brokerages. Actimize has offices in New York, Israel, London and Tokyo. For more information, go to www.actimize.com .
Trademark Note: 360° View, Alpha, ACTIMIZE, Actimize logo, Customer Feedback, Dispatcher Assessment, Encorder, eNiceLink, Executive Connect, Executive Insight, FAST, FAST alpha Blue, FAST alpha Silver, FAST Video Security, Freedom, Freedom Connect, IEX, Interaction Capture Unit, Insight from Interactions, Investigator, Last Message Replay, Mirra, My Universe, NICE, NICE logo, NICE Analyzer, NiceCall, NiceCall Focus, NiceCLS, NICE Inform, NICE Learning, NiceLog, NICE Perform, NiceScreen, NICE SmartCenter, NICE Storage Center, NiceTrack, NiceUniverse, NiceUniverse Compact, NiceVision, NiceVision Alto, NiceVision Analytics, NiceVision ControlCenter, NiceVision Digital, NiceVision Harmony, NiceVision Mobile, NiceVision Net, NiceVision NVSAT, NiceVision Pro, Performix, Playback Organizer, Renaissance, Scenario Replay, ScreenSense, Tienna, TotalNet, TotalView, Universe, Wordnet are trademarks and/or registered trademarks of NICE Systems Ltd. All other trademarks are the property of their respective owners.
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on the current expectations of the management of NICE Systems Ltd. (the Company) only, and are subject to a number of risk factors and uncertainties, including but not limited to 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, pressure on pricing resulting from competition, and inability to maintain certain marketing and distribution arrangements, which could cause the actual results or performance of the Company to differ materially from those described therein. We undertake no obligation to update these forward-looking statements. 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.
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