ROI ofComplete Compliance AssuranceA comprehensive guide showing how financial communication compliance assurance automation and reporting delivers exceptional return on investment

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Lack of Centralized Reporting & Administration

• No single auditable search and replay portal to search regionally or centrally

• No single auditable service portal for the business to conduct Moves-Adds-Changes (MAC)

No Proactive Capability to Identify Potential Issues

• Requires daily manual checks to ensure end-points are recorded

• No real-time system health status

• No audio file health-check

Complex Retrieval of Audio & Data Files

• Access to critical compliance recording data is slow eDiscovery and Communication Surveillance

• Lack bulk download capability to meet significant discovery requirements of regulators and surveillance

• Lack download capability that does not impact the production Compliance Recording system

Missing Auditability

• Lack clear understanding of who is doing what with critical data

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Top Challenges in the Recording Environment

Need for Reporting to Meet MiFID II Requirements

• Lack compliance reporting capability to ensure visibility to critical compliance requirements including data reconciliation, legal hold, archive, and archive deletion

No Automation to Reduce Manual Activities & Errors

• No automated end-user provisioning

• No automated end-user policy rules provisioning

• No automated MAC according to golden source

• No automated download capability

• No single portal to support system administration

• No single portal to support playback & retrieval capabilities

• No single portal (API) to support surveillance capabilities

• No single portal or automation available to perform mass provisioning of litigation holds

Siloed, Closed Systems

• Unable to export data captured in the recording system into an open archive independent of the recording system

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project for additional insights

Solutions Needed in 6 Key Areas

Regulation

Monitoring

Investigation

Operations Open System

Automation

1. Adhere to current and future regulatoryand policy demands

2. Operational simplification through centralisation

3. Advanced monitoring and daily health check capabilities

4. Automation to lower costs and avoid human errors

5. Enable centralized data for eDiscovery & Communication Surveillance

6. Open system approach to allow access to recording data

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Offers Complete Compliance Assurance

Automation

Retrieve Calls

Centralized Portal

Reports Dashboard

NICE Trading Recording (NTR)

Turrets PBX Mobile devicesUnified Communications

Media Extraction System Assurance

Retention Management Recording Check & System HealthBulk Download

NICE COMPASS is a holistic solution that facilitates rigorous monitoring of capturing all trading conversations, meet the stringent regulatory demands and achieve an operating

NICE COMPASS adds a comprehensive monitoring and compliance reporting layer to NICE Trading Recording (NTR), that captures all trader and back-office communications at all stages of transactions. All monitoring and retrieval of recordings is now unified and centralized, which enables reconciliation of the full evidence lifecycle. Consistent, automated compliance reporting dramatically reduces liability and financial risk.

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Centralized Portal

Recording Check & System Health

Media Extraction

Reporting & Auditability

Automation

Open System

NICE COMPASScan help to solve the challenges and reduce ROI in these key areas

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One centralized portal to retrieve all calls and maintain all systems and users

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1 Centralized Portal

• How to ensure all systems are correctly configured

• How to quickly access all content

• How to prove the correct systems are in place

• How to know everything is working correctly

The Solution

NICE COMPASS enables central system and user management allowing customers to manage there recorders and user population globally from one portal:

• Central Reporting

• Central Recording and User Management

• Central Search and Replay

• Central Retention Management

• Central Downloads

• User detail exporting and re-certification, and more.

ROI

Save time by:

• Centralizing all search and replay of voice calls

• Centralized configuration management of your entire recording estate

Centralized

Downloads

Centralized

Reporting

Centralized User Admin for Entire

Regional Recording EstateSimplified Management

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Check to ensure all regulated employees and their devices are being recorded

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2 Recording Check & System Health

• How to ensure the recording system is operating correctly and is ready to record

• Complex interop between the communications platform, network, recorder and archive infrastructure

• How to replace the manually recording system checks performed today

The Solution

NICE COMPASS offers:

• Test clients strategically placed in the infrastructure that can make test calls to each other

• Check successful recording and archiving after test call is finished

• Trigger alarms in case of arising problems

• Show status of automated test runs

• Display widgets to easily understand status

ROI

Save time and money with the proactive capability to identify potential issues before they happen.

Traffic Light Indicator

Click for Test Detail AnalysisLast Tests Summary

Endpoint Result Summary

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•

Export all relevant conversations for a compliance investigation

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3 Media Extraction / Bulk Download

How to quickly and easily export relevant conversations for a compliance investigation, eDiscovery and Communication Surveillance.

The Solution

The NICE COMPASS Bulk Download provides a secure, auditable solution with:

• Extraction of voice calls - can be performed with a simple job creation directly from the COMPASS portal

• Up to 1.7 Million calls downloadable per day on a single extraction server

• Queries batched and queued to ensure there is no impact on operational systems (1% CPU load)

• Technology-neutral .xml and .wav output enables easy interoperability

• Selectable range of time and users

• Downloads in the background to allow continued operation

ROI

Save valuable time with extracting calls quickly and prevent downtime of the recording system while downloading

Historic Downloads

Audit

Current Downloads

Progress

Select Users and/or Groups, create Start

and End Date and trigger operation

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Prove that all regulated employees are recorded

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4 Reporting & Auditability

• Prove that all of regulated users are being recorded

• Prove that the records are correctly retained

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• Check who has accessed critical compliance data and for what purpose

The Solution

NICE COMPASS offers centralized capture of interactions and events, providing understanding of the compliance recording status:

• Every activity captured for auditing

• Simplified automated delivery options

• Central dashboards that highlight trends and exceptions

• Open API and Excel /CSV output to support other BI needs

ROI

Prevent fines and reputational damage by proving all regulated employees and the devices they use are being recorded.

Default templates

available

Build reporting

schedules

Customizable reports via API

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Automate the administration and maintenance of the recording system data and users

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5 Automation

Need to reduce manual errors and prove the correct people are being recorded.

The Solution

The API of NICE COMPASS enables:

• Correct configurations by programmatically managing who should be recorded, their retention and permissions from 3rd party data source

• Introduction of a

• Centralized provisioning solution

• Auditing of API actions

• Reconciliation of recorded users against source data

ROI

Enabling automation using an API ensures correct user and recording configurations without manual labor and the risk of errors.

REST API

COMPASS API calls

all require basic HTTP

authorization and

return JSON dataset Secure API link based

on HTTPS certificate

All Actions Added to

Centralized Audit Reporting

READ & WRITE Functions for

Updates and Validation

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Access to all underlying recording data for other IT systems

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6 Open System

• How to get recording system data into an indexing system for additional investigations and analysis

• How to ensure the recording data is open for all future application and regulation requirements

• How to square openness with security

The Solution

The Index API of NICE COMPASS enables:

• Secure access to the interaction metadata

• Archive pointers for direct access to media content

• Real-time updates for immediate investigation and analysis

• TLS/SSL and authenticated user access to ensure openness is controlled and audited

ROI

An open system architecture ensures fast and reliable access to the underlying recording metadata by other IT systems that can use this data for further investigations and analysis.

COMPASS Portal

Extraction Server

Recording Check Elastic Index

3rd Party SystemCOMPASS

API

System X

NICE COMPASS

Retrieve

information

Store

information

REST API Calls Require Basic HTTP

Authorization and Return Dataset e.g. GET

/ic*/_count?q=int_core_hostname:NTR_London

Count calls for NTR Core Host NTR_London

Secure API link

based on HTTPS

Certificate

READ functions for access to all

interaction data and content locations

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In Summary

Assure Complete Compliance and Future-Proof Your InvestmentYou need a robust data collection model and comprehensive reporting capabilities to deliver a single transparent, holistic view of Compliance Recording across the enterprise. This helps you tackle today's tactical risk and compliance problems while future-proofing compliance spending across regulatory mandates. With NICE COMPASS, now you can rapidly respond to changing regulatory conditions while leveraging your technology investment, thereby improving the consistency and effectiveness of your data, and strengthening your competitive advantage all while controlling your overall compliance costs.

Reduce Your Total Cost of Compliance

Reduce your investment risk and operational complexity with NICE

COMPASS it is the only flexible, adaptable platform to deliver unified

recording of all current and future communication modalities, mixing

Trading, Front-office, Back-office and Unified Communications

recording in the same platform.

Reduce Expenses Resulting from Investigations

NICE COMPASS speeds up repetitive, time-consuming tasks

involved in system administration and responses to compliance

investigation requests.

Centralized Portal Recording Check Media Extraction Reporting Automation Open System

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Contents of this document are Copyright © 2017 NICE, Ltd. Information is believe to be true at the time of publishing. All trademarks and logos are the property of their respective owners.

fmc@nice.com

contact us at:

About NICENICE (NASDAQ: NICE) is the worldwide leader of software solutions that deliver strategic insights by capturing and analysing mass quantities of structured and unstructured data in real time from multiple sources, including phone calls, mobile apps, emails, chat, social media, and video. NICE solutions enable organizations to take the Next-Best-Action to improve customer experience and business results, ensure compliance, fight financial crime, and safeguard people and assets. NICE solutions are used by over 25,000 organizations in more than 150 countries, including over 80 of the Fortune 100 companies.

NICE Financial Communication Compliance

compliance assurance and holistic surveillance solutions help banks reliably capture and analyze omnichannel communications to ensure compliance with increasing regulatory requirements including MiFID II, MAR, Dodd-Frank and future directives.

www.HolisticSurveillance.com Attend our complimentary Webinars:

www.HolisticSurveillance.com/webinars

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