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NICE Actimize Launches Compliancentral, Industry’s First End-to-End Communications and Trade Compliance Platform

The new cloud-based platform empowers firms to know more and risk less by capturing and surveilling complete communication, trade and behavioral data to reveal hidden conduct risk

NICE Actimize, announced the launch of Compliancentral, a cloud-based, end-to-end communications monitoring and trade compliance platform for financial services firms. NICE Actimize’s Compliancentral helps buy-side, sell-side, online trading platforms, as well as insurance and wealth management firms, capture and holistically analyze all types of employee communications, along with trade and behavioral data, to uncover hidden conduct risk.

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“Introducing Compliancentral: The First End-to-End Communications & Trade Compliance Platform”

Whether through traditional telephony channels, or over Microsoft Teams, Cisco Webex, Zoom, WhatsApp and more, NICE Actimize’s Compliancentral platform captures, retains and monitors all employee communications. Leveraging NICE Actimize’s industry-leading compliance solutions, NTR-X Compliance Recording and SURVEIL-X Holistic Conduct Surveillance, Compliancentral unifies communications capture, archiving and surveillance into a single, robust cloud compliance platform, thereby eliminating costly integrations and ensuring interoperability.

Chris Wooten, Executive Vice President, NICE, said, “With Compliancentral, firms can build a culture of good behavior, comply with global regulations, and ensure that regulated employees are playing by the rules. Our complete solution and unmatched capabilities in compliance recording and trade and communications surveillance empowers firms to shine the brightest light on employee misconduct, by capturing and holistically analyzing every type of regulated communication, along with trades and a treasure trove of other data. With the introduction of Compliancentral, we’re excited to continue to drive our mission forward of helping firms know more and risk less.”

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Eliminates Costly Integration

According to a NICE Actimize survey of financial institutions, 60% of firms are not monitoring newer communication channels, including Microsoft Teams, Bloomberg Chat, Zoom and WhatsApp. As a result, many firms are being levied fines as large as $200 million due to record keeping and surveillance lapses.

Aligned with that trend, regulators and financial services firms around the world are placing a greater focus on misconduct, as evidenced by growing fines and personal liability for senior managers. And with the proliferation of data, growing misconduct has become harder to find.

Addressing these challenges, the Compliancentral platform also eliminates costly integration issues while bringing communications capture and surveillance closer together. Communications can be analyzed in near-real-time to detect and address conduct issues faster. Additionally, the Compliancentral platform uncovers hidden conduct risks by using AI and advanced analytics to correlate employees’ actions (trades and behavioral data) with their communications patterns and activities by merging trade, communications, and behavioral data into a single case management solution for more accurate and effective conduct risk monitoring and investigation.

NICE Actimize’s Compliancentral provides APIs and out of the box connectors to make integration to new data sources seamless and easy, ensuring an open and future-proof solution. Firms can also buy what they need today and add new capabilities as they go. This approach ensures ease of deployment and lowers total cost of ownership through a cloud-based platform.

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[To share your insights with us, please write to sghosh@martechseries.com]

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