“Communication archiving and retention remains a serious challenge. Global regulators have issued massive fines at record levels for failures by financial firms and their employees to maintain and preserve required communication records. ARCHIVE-X can assist in managing this data securely and effectively while protecting both the institution and investors from recordkeeping lapses.”
NICE Actimize has launched ARCHIVE-X, a cloud-based solution designed for financial services firms, offering comprehensive archiving and records management of all communications in one platform.
ARCHIVE-X addresses the needs of buy-side, sell-side, online trading platforms, insurance, and wealth management firms by supporting regulatory requirements for communications archiving and records management.
By securely archiving communications in the NICE Compliance Cloud, firms can enhance records lifecycle management and mitigate compliance risks.
“Communication archiving and retention remains a serious challenge”
Chris Wooten, Executive Vice President, NICE, said: “Communication archiving and retention remains a serious challenge. Global regulators have issued massive fines at record levels for failures by financial firms and their employees to maintain and preserve required communication records. ARCHIVE-X can assist in managing this data securely and effectively while protecting both the institution and investors from recordkeeping lapses.”
ARCHIVE-X stands out for its open and agnostic design, capable of capturing any required communications and related data for regulatory or other purposes.
It can integrate captured communications from NICE’s NTR-X compliance recording solution among other sources, supporting over one hundred types of regulated employee communications. This capability eliminates data silos and is compatible with many existing communication platforms. ARCHIVE-X is designed to work seamlessly with NICE Actimize’s SURVEIL-X surveillance solution or can be integrated with third-party solutions.
The solution archives a wide range of communication types including email, chat, IM, voice, video, screenshare, SMS, social media, document sharing, CRM, and more, from various sources like office phones, unified communications platforms (e.g., Microsoft Teams, Webex), and mobile phones.
Key benefits of ARCHIVE-X include:
- Advanced security features with data encryption, WORM-compliant archiving, and continuous monitoring for threats.
- Cloud-based SaaS offering flexibility, scalability, and cost-effectiveness, with an SLA guaranteeing 99.99% availability.
- Simplified data governance, enabling centralized control over retention limits for various communication types, reducing the complexity of managing data retention across different systems.
