With the compliance and regulatory era upon us, NICE Systems is introducing a software program that digitizes and electronically stores all investor calls to brokers.
Regulatory compliance, maintaining customer service standards and broker training and development are three reasons banks use NICE products to keep such calls on record. Saved calls can be easily searched and sorted by key word, date, customer, stock and so on. Sound files can be e-mailed among parties at banks.
“The big guys have always used us,” says NICE executive. “Now the smaller players are coming on board too.” NICE is better known as a provider of recording systems for customer service call centers. (“This call may be recorded for quality assurance purposes.”) The firm’s technology captures 50 million customer interactions per day worldwide.
NICE technology maintains electronic records of every stock sale, from order to execution — across all technology from telephone to e-mail to proprietary trading floor systems. NICE technology records sales whether in an “open-outcry” or electronic sales system.