NICE Introduces First Integrated Voice and Transaction Analytics Solution

Speech analytics and customer intelligence solutions provider NICE Systems today introduced the financial industry’s first cross-channel trading compliance solution, called the Actimize Trading Interaction Surveillance Solution.

The new solution combines insight from transactional data with voice analytics, all under one unified view, to meet growing regulatory requirements for monitoring market abuse, insider trading, and other regulatory issues.

Today, regulators around the world 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. 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 for submission. The new solution enables tying together the transactional data with the data provided by the contents of the call.

“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. “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.”