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Nxtera and Citycom Team Up to Help Financial Firms Tackle Compliance and Conduct Risk (Integrated Automated Tooling Improves Regulatory and Business Trust)

Posted 06/07/16

Nxtera, a global RegTech company delivering agile software solutions to protect trading firms from risk and penalties associated with regulatory compliance, and Citycom, delivering services and solutions to help financial firms reduce exposure to conduct risk, today announced a partnership to offer a comprehensive automation suite that will enable firms to address multiple challenges faced in complying with mandates from different regulatory regimes.

The offering combines Nxtera’s automated assurance testing to manage the workflow of voice transactions incorporating policy validation through retention oversight and trade reconstruction with Citycom’s voice quality and content assurance solution to manage conduct risk.  The partnership will deliver end-to-end protection against common concerns companies face in today’s regulation rich environment, including:

Assurance all calls are being recorded if policy defines

Fully operational communications and recording services

Readily available usable voice recordings

Reporting of potential behavioral risks

Evidence and audit trails demonstrating compliance adherence

Firms implementing a governance framework to manage regulatory compliance risk and market integrity now have a single source for an integrated automation suite.  Nxtera provides the automation to reduce technology and procedural compliance risk and feeds voice recordings into Citycom’s automated voice quality and content assurance solution to manage conduct risk.

“Nxtera continues to drive innovation through both internal development and strategic partnerships, stated Andrew Lamb, founder and Managing Director of Nxtera.  “We are committed to delivering automation that empirically measures the quality of experience and protects the business.  Our partnership with Citycom extends our value to help firms proactively address behavioral risks.”

Mark Whiteman, Chief Executive Officer of Citycom adds, “The financial industry has multiple legal and regulatory obligations that require specialist tools and expertise.  Our partnership with Nxtera delivers a unified solution to address challenges associated with conduct and compliance risk efficiently and effectively.”

About Nxtera

Nxtera specializes in the development and delivery of agile software solutions to safeguard financial firms against compliance risk.  In its 10 year history the company has built a leading reputation of delivering quality automated compliance solutions based on extensive industry knowledge and understanding of customer challenges, and the underlying business and operational support systems.  Nxtera core products Proof, Parity, Reflect and Retrieve are used by financial, call center and media customers globally to provide governance over tens of millions of recorded transactions annually.  Nxtera is headquartered in Hampshire, UK with direct presence in London and New York and a network of strategic partnerships worldwide.  For more information, visit www.nxtera.com.

About Citycom

Servicing the major global financial markets, Citycom has developed answers to some of the challenges facing financial institutions understanding and interrogating their structured and unstructured data pools. A term becoming widely referred to as Conduct Risk Monitoring. Through learning gained over years of working within financial markets Citycom fully understand and respect the issues surrounding Conduct Risk financial institutions face in today’s ever increasing regulatory landscape and offers a set of services and solutions to help manage the challenges.   Founded in London, UK, Citycom has offices in New York, Sydney, Hong Kong, Singapore and Dubai and a network of strategic partners. For more information, visit www.citycomsolutions.com.

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