With Artificial Intelligence, EZOPS can maximize data confidence, integrity, and control. This machine learning and intelligent process automation platform is one innovation to look out for, the CEO Bikram Singh shares more insights into the platform with us in this interview with TechBullion.
Please tell us a little more about yourself.
I am Bikram Singh and I am the CEO and Co-Founder of EZOPS.
I have built and managed operational services and technology solutions for banks, hedge funds, asset managers, fund administrators, and custodians.
From my experience in the financial industry, I know firsthand the pain points that plague data management teams. As a result, it has become my mission to develop an end to end platform that addresses the challenges teams face across the entire lifecycle of data. Through EZOPS, I am able to obtain my goal of providing financial institutions with a solution that drives operational efficiency and delivers quality data.
What is your background/experience in the industry?
Prior to founding EZOPS, I had over 20 years of experience managing financial services operations and technology while working at McKinsey & Company, Lehman Brothers, Lava Trading, Goldman Sachs, and Citi.
What is EZOPS?
EZOPS is AI-enabled software that harnesses the power of machine learning and intelligent process automation to revolutionize data control and drive transformative efficiency gains at some of the world’s largest financial services institutions.
What prompted the creation of EZOPS?
Through my years of experience in financial services, I, along with Co-Founders Sarva Srinivasan and Dutt Chintalapati, realized that we could develop and implement automated workflows to solve for many of the challenges our clients faced every day. We combined our industry experience with our knowledge of machine learning and automation to develop EZOP in an effort to eliminate the longstanding redundancies and inefficiencies that have plagued the industry for decades to help transform how data is controlled at large financial institutions today.
What industries benefit from EZOPS?
EZOPS is the leader in cutting-edge innovation for the financial services sector, including: Global Banks, Regional Banks, Custodians, Asset Service Providers, Asset Management, Operations Outsourcers, Fintech, Corporate Treasury.
Our solutions help our clients transform their business operations and cover crucial areas such as Operations, Finance, Governance, Regulations, Compliance, and Audit to enhance quality & control for post-trade operations.
What are the main problems EZOPS solves?
EZOPS offers comprehensive functionality that businesses of large scale and complexity need in order to manage the four pillars of operational data control – reconciliation, research, remediation, and reporting – all powered by Machine Learning and smart workflow management.
EZOPS intelligently automates repeatable actions, checks for errors, and offers insights that users might miss on their own. The goal is to streamline parts of the process that software can do better.
Can you elaborate on how EZOPS uses Machine Learning and AI to streamline data control?
EZOPS platform combines machine-learning with smart workflow management functionality for comprehensive end-to-end automation.
It integrates siloed data and processes across the enterprise for cohesive exception management processing EZOPS ARO improves transparency and communication via alerts, notifications, messages, and emails.
It Facilitates source system remediation to OMS, PMS, accounting systems & sources for reference data, corporate actions & market data.
What industry trend(s) sparked the need for financial institutions to automate their data control process? Has the global pandemic played a role?
Since the financial crisis the landscape across the institutional financial sector has changed. This has further accelerated with the global pandemic and the drive for digital transformation.
The business of financial intermediation is entering the post-internet era and the next decade will see business models on the institutional side being disrupted as large financial institutions start taking a hard look at the collection of businesses they have and the associated fit with their respective business model and strategy.
As digitalization, shedding, restructuring, realignment takes place, it will present an opportunity for a variety of players. Many of whom will likely be unregulated, technologically savvier, and much more nimble than the institutions of the past.
Can you comment on the increasing data complexity, data volumes, and regulatory mandates the financial industry is currently seeing? How does EZOPS provide a solution?
Transactional volumes have increased during the pandemic in conjunction with an increased focus on regulatory reporting and compliance. At the same time markets and companies have become more fragmented.
This has led to an increased operational and technical infrastructures that were primarily built to support pre-crisis business complexity, volumes and regulatory reporting are proving to be costly to maintain and yielding less than desired business value.
How do clients integrate EZOPS into their current operating system?
EZOPS can be easily integrated into a client’s current operating systems via cloud or on-premise installations. Clients are up and running in a matter of days depending on the complexity of their ecosystem & tech stack. Amazon Web Services (AWS) users can access EZOPS ARO capabilities via the Amazon Marketplace in a matter of hours. EZOPS multiple partner and channel integrations allow clients to switch on new capabilities seamlessly and in a frictionless manner.
Do you have any industry partners?
Yes, we have a strategic partner ecosystem consisting of technology providers, consulting organizations, and financial software firms. Our partners compliment our software solution and support our clients globally. Solutions partners include: BNY Mellon, Riskfocus, Orchestrade, and Access Fintech. Technology partners include: Snowflake, Oracle, and AWS.