NICE unites with Microsoft Teams for compliance records

Provider of financial communication compliance solutions, NICE has announced the release of the integration of the NICE Trading Recording System (NTR) and the Microsoft Teams unified communications platform.

It comes as the firm revealed it is working with Microsoft to certify NTR under Microsoft’s new Certified for Microsoft Teams certification program for compliance recording solutions. 

Financial services organizations (FSOs) around the world can now benefit from increased productivity and streamlined communications while also ensuring compliance with key regulations, including MiFID II, MAR, FX Code of Conduct, Dodd-Frank and Regulation Best Interest, even with employees working remotely.

Chris Wooten, Executive Vice President, NICE commented: “Our certified solution with Microsoft Teams – even those covered by the most stringent regulations – helps to speed up their technology adoption of unified communications and digital transformation. Moreover, FSOs are innovatively equipped to fulfill their regulatory obligations even with distributed work-at-home employees around the globe.”

Teams seeks to enhance productivity, creating a unified communication and collaboration platform that enables chat, online meetings, calling, file sharing and provides other tools and applications. 

As FSOs roll out Teams, they must pay special attention to recording, archiving and retaining all modalities of regulated employee communications. Through its certified integration with Teams, NTR will address these requirements and more.

Mike Ammerlaan, Director of Office 365 Ecosystem Marketing at Microsoft Corp. added: “Microsoft Teams empowers financial services firms and accelerates digital transformation through every business-critical area of the enterprise that benefits from streamlined collaboration and meeting experiences. 

“With the integration between NICE and Teams, FSOs can extend the benefits of our innovative Microsoft Teams platform to regulated employees with complete confidence they can continuously meet their regulatory obligations around recordkeeping and retention.”

The collaboration is well-positioned to capitalize on an All-in-One Compliance Recording Solution: Already adopted by most of the world’s leading banks and investment firms, NTR enables unified capture of a variety of communication modalities in a single platform. 

This includes all modalities of Teams’ unified communications (voice, screen sharing, video, chat) and other communication systems (turrets, mobile phones, PBX desk phones, etc.).

FSOs can now confidently add Microsoft Teams recording into their existing NTR infrastructure and easily adhere to regulatory requirements. At the same time, it supports remote employees, allows for a seamless user experience, lowers TCO, improves economies of scale and significantly streamlines administration and the compliance work process.

Complete Compliance Assurance: As an added benefit, NTR’s NICE COMPASS application helps FSOs streamline mandated compliance assurance processes through automated provisioning, system health checks, bulk call extraction, transcription, compliance assurance reporting and monitoring dashboards, real-time recording reconciliation and daily recording checks.

Expert Analysis: This collaboration can evolve the way in which compliance record and regulatory challenges are adhered to, it takes on heightened importance as the landscape changes and grows to adapt to adjusting threats.