NICE and Microsoft Partner for the First Certified Teams Recording Solution

  

Across the globe, the financial sector receives the highest level of regulatory scrutiny and monitoring from governments and private stakeholders, with endless technology and process safeguards in place to protect data and ensure best practices remain intact. 

 

The massive shift to remote work, as a result of the COVID-19 public safety protocols, created decentralized work environments which led to significant challenges in financial services organizations adhering to financial regulations. Remote work structures came with the requirement to ensure that the same level of market integrity is preserved. Without face to face or traditional tools readily available to monitor remote, regulated employees, advanced communication and surveillance methods became a necessity.

 

NICE’s advanced trade and communications recording and surveillance solutions help to fill these compliance gaps. With NICE’s surveillance and the market’s first certified Microsoft Teams recording solutions, remote employees at regulated financial organizations are now able to more effectively communicate and maintain sufficient monitoring and supervision while satisfying compliance obligations.

 

“The adoption of Microsoft Teams has enabled financial services companies to allow their employees to collaborate better, share ideas, and improve communication while working from anywhere,” explains Lee Garf, General Manager, Financial Markets Compliance. “Traditionally, regulated financial services employees related to trades, equities, stocks, and bonds would need to be in a controlled room within an office, but with the onset of COVID-19 that is no longer feasible”.

 

Regulatory bodies globally often rely on voice recording, so it’s critical that voice communications are captured across diverse platform such as turrets, desk phones, audio/visual collaboration tools like Teams, and mobile devices. As firms adopt methods of communication which provide greater value to remote employees, like Microsoft Teams which combines voice with video, chat and screenshare capabilities in a single, omni-channel platform, it’s essential that all types of messages are reliably captured and analyzed – failure to do so can result in millions of dollars of fines and regulatory action.

 

When switching to remote structures, it becomes critical that a financial institution’s solution for managing all these different channels remains available and compliant. By partnering with Microsoft, NICE’s newly certified recording solution gives assurance to customers that they are getting a thoroughly-tested solution that they know will work with Microsoft Teams. The certification means that the solution has gone through scale, security, performance, and functional testing to ensure that this investment will meet compliance needs and expectations.

 

“We’ve seen more organizations switch to Microsoft Teams, which has shown an eight times increase in volume between January and June, accelerated during the beginning of the pandemic. For firms with regulated employees, they realize the risk of being outside of compliance, and are quick to put a recording solution in place. With our newly certified Teams recording solution, we’ve successfully worked with key customers to deploy a solution which matches their expectations,” added Garf.

 

Regulatory bodies in the U.S., Europe, and Singapore all require the capture of voice and digital communications, which has created a demand for this approach. With the pandemic dictating new work styles, according to Garf, there has been increased interest in deploying the NICE Microsoft Teams certified recording solution globally. NICE’s cloud deployment capabilities allow it to fulfil the needs of mandated regulations worldwide, quickly. Additionally, NICE’s ability to tailor recording solutions to its customers means they are positioned to deliver recording solutions across the enterprise, including to contact centers where omni-channel recording and surveillance is also necessary. With the backing of Microsoft, NICE is situated to bring standardized monitoring to the UC world.

 

 

 

Source: UC Today