Workforce Management Featured Article
NICE's NTR-X Compliance Recording Platform Offers Security in the Work-from-Home Era
When much of the nation retreated into their homes in March of 2020 to try and flatten the curve of COVID-19 infections, businesses hurried to transition to a work-from-home model to ensure that business continuity remained in place. In June, a study by Stanford University estimated that 42 percent of the U.S. labor force was working from their homes full-time. Half a year later, much of the country is still working from home.
While the work-from-home model has solved many problems for companies, it has also created a few headaches. Stringent regulations and complexities arising from new communication modalities and remote, distributed workforces are widening compliance gaps, putting some companies -- particularly financial and energy trading firms – at increased risk for fines and reputational damage. Even when employees are working from home, the same needs for call recording and storage are present, and they become harder to meet with a widely distributed workforce.
To address these challenges, communications compliance solutions provider NICE recently introduced its NTR-X product, a fully integrated, cloud-ready omnichannel compliance recording and assurance solution. Building on NICE Trading Recording, the most widely deployed trading compliance recording platform in the financial services industry, NTR-X captures all modalities of regulated employee communications – traditional, unified, and mobile – in a single platform.
Offering a consolidated, centralized approach to managing recording estates and footprints, NICE’s NTR-X can be deployed globally while still enabling firms to adhere to local capture and storage requirements. Offering financial services firms the benefit of a central vantage point into all global regulated users and communications, NICE’s NTR-X reduces regulatory risk, removing maintenance hurdles and reducing the need for costly, dedicated, local IT resources, according to the company.
“As the environments in which financial services and energy trading firms operate become inherently more risky, costly and complex, NICE’s passion for innovation has led us to create a one-of-a-kind compliance recording and assurance solution, offering simplified compliance for a complex world,” said Chris Wooten, Executive Vice President of NICE, in a statement. “Regardless of the communication modalities regulated employees use or where they work from, firms can cost-effectively manage their entire global recording footprint to increase compliance with key regulations. NTR-X also provides a seamless upgrade path for current NICE Trading Recording (NTR) customers and a proven cloud-ready platform that speeds future migration.”
Edited by Maurice Nagle
