NICE, the worldwide leader of intent-based solutions that capture and analyze interactions and transactions, realize intent, and extract and leverage insights to deliver impact in real time, has established a practice dedicated to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).
The company said that it is working with a number of leading financial institutions in the United States as part of their preparation to be compliant with the new recordkeeping and risk management requirements.
Officials with NICE said that the focus of these efforts is on leveraging the company’s extensive experience and solutions for trading floors, contact centers, back offices and branches that are relevant to two critical elements of Dodd-Frank, which are increased transparency in financial transactions and strengthening consumer protections.
Dodd-Frank requirements for financial institutions and trading firms are complex and technologically demanding, requiring a wide spectrum of solutions across the enterprise.
According to company officials, NICE has a dedicated team of experts who assist institutions of all sizes in understanding and assessing the anticipated requirements of the act, as well as leveraging NICE's solutions and technologies in order to be in compliance.
"Financial institutions must already take action to be compliant with the evolving requirements of Dodd-Frank," said Benny Einhorn, chief marketing officer at NICE, in a statement.
"In partnership with top U.S. institutions, we are leveraging our industry domain expertise, and our unique position of offering a broad range of compliance technologies and solutions across channels to help shape the approach organizations will need to take to comply with this act," said Einhorn.
Recently, NICE announced that the Denver Regional Transportation District (RTD), the public transit system for greater metro Denver (CO), is expanding its implementation of NICE video security solutions to the West Rail Line, Union Station, and the Denver Civic Center.
The first two projects stem from Denver RTD’s FasTracks plan, a major program which will extend Metro Denver’s entire mass transit system. In addition, Denver RTD also purchased the NICE IP radio recording solution and NICE Inform, an information management solution designed to capture, consolidate and manage voice, video, and other multimedia, for complete debriefing and investigation.
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