NICE Announces NEVA for Collection Membership, Enabling Organizations to Meet New Fair Debt Collection Practices Act Requirements


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NEVA’s innovative AI models enable a new offering that proactively identifies events with potential for risk breaches in real time, guides agents, and presents them with compliance-enabling data

HOBOKEN, NJ–(BUSINESS WIRE)–
PLEASANT (Nasdaq: NICE) today announced the availability of NEVER WILL (NICE Employee Virtual Attendant) for Collection Adherence, a specialized offering to help organizations comply with the communication aspects of the new Fair Debt Collection Practices Act in the United States. Based on NEVA’s unique artificial intelligence models, the solution recognizes in real time events with potential behavior that could lead to non-compliance and intervenes proactively by presenting agents with reminders and scripts or sending alerts to supervisors in the event of a risk of violation. For more information, click here.

The U.S. Consumer Financial Protection Bureau issued a final rule effective November 30, 2021, to reaffirm and clarify prohibitions on harassment and abuse, false or misleading representations, and unfair practices by debt collectors when collecting consumer debt. By focusing on debt collection communications, the rule gives consumers more control over how often and by what means debt collectors can communicate with them about their debts. The rule also clarifies how the protections of the Fair Debt Collection Practices Act (FDCPA), which was passed in 1977, apply to new communication technologies, such as email and texting.

NEVA for Collection Adherence supports compliance in several scenarios addressed under the new regulations:

  • Anti-harassment compliance: Residing on the agent’s desktop, NEVA tracks agent activities and interactions. Upon identifying a potential heated exchange or similar event, NEVA proactively reminds agents of the need to comply with new regulations and simultaneously sends an alert of a potential risk of breach. Phone call logs are also kept automatically, providing compliance/non-compliance evidence.

  • Compliance with prescribed debts: NEVA automatically calculates whether the limitation period for a particular debt has expired in real time. If a law is still in effect, NEVA notifies agents of the inability to mention legal action and provides alternate scripts to direct the conversation to safer areas.

  • Voicemail: NEVA recognizes that a call has reached voicemail, can automatically collect data from it and update various internal systems.

“Aligning regulations with the digital age is critically important to the continued fair treatment of consumers,” said Barry Cooper, President, NICE Workforce and Customer Experience Group. “We are excited to be among the first to bring innovative robotic automation to help organizations comply with new regulations.”

About NICE

With NICE (Nasdaq: NICE), it’s never been easier for organizations of all sizes around the world to create extraordinary customer experiences while meeting key business metrics. With CXone, the world’s #1 cloud-native customer experience platform, NICE is a global leader in self-service and AI-powered agent-assisted CX software for the contact center – and beyond. More than 25,000 organizations in more than 150 countries, including more than 85 of the Fortune 100 companies, partner with NICE to transform – and elevate – every customer interaction. www.nice.com

Note on the mark: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other brands are trademarks of their respective owners. For a complete list of NICE brands, please see: www.nice.com/nice-brands.

Forward-looking statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including Mr. Cooper’s statements, are based on management’s current beliefs, expectations and assumptions. . of NICE Ltd. (the society “). In some instances, these forward-looking statements may be identified by words such as “believe”, “expect”, “seek”, “may”, “will”, “intend”, “should”, “plan”, “anticipate”. ”, “plan”, “estimate” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the Company’s actual results or performance to differ materially from those described herein, including, but not limited to, impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competetion; the successful execution of the Company’s growth strategy; the success and growth of the Company’s Cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company’s products; failure to develop and introduce new technologies, products and applications on a timely basis; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution agreements; the Company’s dependence on third-party cloud computing platform providers, hosting facilities and service partners; cybersecurity attacks or other security breaches against the Company; the effect of newly enacted or amended laws, regulations or standards on the Company and our products; and various other factors and uncertainties discussed in our filings with the United States Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the Company, see the Company’s reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

Corporate media contact

Christopher Irwin-Dudek, +1 201 561 4442, ET, chris.irwin-dudek@nice.com

Investors

Marty Cohen, +1 551 256 5354, ET, ir@nice.com

Omri Arens, +972 3 763 0127, CET, ir@nice.com

Source: NICE

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