Q&A With Bikram Singh, CEO and Co-Founder of EZOPS

Bikram Singh
  1. Describe what your company does in 256 characters (a Tweet’s length)

Bikram Singh: “EZOPS is AI-powered software that uses machine learning and intelligent process automation to revolutionize data control across the entire lifecycle and to drive efficiency gains at some of the world’s largest financial services institutions.”

 

  1. How did you get involved in this industry?

Bikram Singh: “Prior to founding EZOPS, I had over 20 years of experience building and managing operational services and technology solutions for banks, hedge funds, asset managers, fund administrators and custodians, including McKinsey & Company, Lehman Brothers, Lava Trading, Goldman Sachs, and Citi.”

“From my experience in the financial industry, I know firsthand the challenges data management teams face, so I made it my mission to develop an end-to-end platform across the entire lifecycle of data.”

 

What made you think of the idea/what inspired you to create your technology?

Bikram Singh: “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 realized that machine learning and AI could streamline most of the frustrating and tedious parts of the industry—validation, compliance, and reconciliation.”

 

  1. How is this going to benefit people/society?

Bikram Singh: “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, and 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 and control for post-trade operations.”

“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, which helps drive efficiencies and cost savings.”

 

  1. What’s innovative about your company and technology?

Bikram Singh: “The EZOPS platform combines machine-learning with smart workflow management functionality for comprehensive end-to-end automation for the full data lifecycle.”

“EZOPS offers the industry’s only self-service platform that enables end users to resolve simple and complex reconciliations with no IT help and is deployed on a flexible on-premise and hosted basis.”

“The EZOPS low code framework eliminates the need for manual workarounds and automates repeatable tasks throughout the data lifecycle to reduce inefficiencies. ”

“From a regulation standpoint, EZOPS provides a front-to-back view of all transactions with integrated compliance rules, workflow, reconciliation, and reporting capabilities to help institutions remain compliant.”

 

  1. How, in your opinion, has your industry changed in the past 5 years?

Bikram Singh: “The institutional financial industry has gone through a lot of evolution. Weaknesses have been brought to light, and financial institutions have been forced to reevaluate how they were managing data. This has uncovered the need for digital transformation. It is clear that banks must constantly innovate and capitalize on technological expertise in order to keep from being disrupted out of existence.”

“Data has become the new oil. With up to 80% of a bank’s back-office employees spending all their time and energy trying to figure out data discrepancies, there’s a huge amount of value locked up in those labor-intensive tasks, which, if unleashed, can ignite tremendous productivity and client value.”

 

  1. What has COVID done to your company/industry? Has it been affected? Does your solution assist with the pandemic?

Bikram Singh: “The global pandemic has accelerated the need for digital transformation. 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 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.”

“EZOPS is revolutionizing the industry with software that offers comprehensive functionality and that businesses of large scale and complexity need in order to manage the four pillars of operational data control: reconciliation, research, remediation, and reporting. These are all powered by machine learning and smart workflow management.”

 

  1. Describe the future of your industry. What does the future hold? What is society going to look like?

Bikram Singh: “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, and re-alignment takes place, it will present an opportunity for a variety of players. Many of these will likely be unregulated, technologically savvier, and much more nimble than the institutions of the past. The future is smart software that is modular, adaptable, and tailor-fit for financial services.”

  1. What plans do you have coming up?

Bikram Singh: “We recently announced a new, first of its kind solution that helps financial institutions eliminate the hidden risk and inefficiencies of end-user-defined technologies (EUDT). EZOPS offers a friction-free transition off of manual workarounds and delivers data control and automation, making spreadsheet-based data management and workflows obsolete. We will continue to develop solutions for pain points that we see our clients experiencing.”

“In addition, we plan to further develop our strategic partner ecosystem, which consists of technology providers, consulting organizations, and financial software firms. Our partners complement our software solution and support our clients globally. Current solutions partners include: BNY Mellon, Riskfocus, Orchestrade, and Access Fintech; and current technology partners include: Snowflake, Oracle, and AWS.”

 

 

Bikram Singh

Bikram Singh is the CEO and Co-Founder of EZOPS. He has built and managed operational services and technology solutions for banks, hedge funds, asset managers, fund administrators, and custodians. He has over 20+ years of experience working at McKinsey, Lehman, Lava, Goldman & Citi before founding EZOPS. Bikram has a BS in Political Science from Illinois Institute of Technology. Through his years of experience in financial services, Bikram, along with co-founders Sarva Srinivasan and Dutt Chintalapati, realized that they could develop and implement automated workflows to solve for many of the challenges their clients faced every day. Combining their industry experience with their knowledge of machine learning and automation, they developed EZOPS  to eliminate the longstanding redundancies and inefficiencies that have plagued the industry for decades and to help transform how data is controlled at large financial institutions today.