9725
  • RECONCILIATIONS

Digitalizing core alternative
asset servicing operations using AI

CHALLENGE

Our client was inundated with multiple data systems many of which involved manual, redundant processes, globally spread out teams, shrinking budgets to run and innovate, and a frustrated workforce that was constantly under pressure to deliver more with less. They had to process millions of daily transactions on a mish mash of systems that included a home-grown system, excel, and a legacy industry reconciliation platform that couldn’t handle complex products like OTCs, Futures, or CFDs and offered no integrated workflow or mechanism for reporting. The client had hundreds of reconciliations specialists spread across 3 continents and could not onboard clients without incurring significant delays or costs.

SOLUTION

The client deployed and went live on the EZOPS platform for thousands of accounts with hundreds of users--in 16 weeks from start to finish. Business users were able to map and configure data for simple and complex products with minimal IT help.
The solution leveraged the entire gamut of EZOPS solutions from data mapping, reconciliation, exception manager, predictive analytics, and reporting. The client deployed the platform on their in-house cloud and EZOPS maintained and supported the predictive analytics AI engine externally in our secure cloud.

“A key to the value proposition of the EZOPS recon module is it’s ability to feed our the machine Learning enabled exception management and process automation module. The most important factor to keep in mind here is that, based directly on our own research, the spend on the management of exceptions post the recon process can be five times the cost and headcount of the actual running and building of the underlying reconciliation processes.

Considering this, our ability to drive significant efficiency gains in the post-recon workflows is one of EZOPS’s most powerful advantages. We have achieved these gains- in some cases in excess of 50% reduction in headcount/gain in efficiency- using a combination of EZOPS tools”.

Executive at a top tier global bank

IMPACT TO GLOBAL BANK’S BOTTOM LINE
JUST MONTHS AFTER IMPLEMENTING EZOPS

65% reduction in staff dedicated to reconciling complex product breaks

100% productivity increase.
Nearly doubled the productivity of complex reconciliations/FTE.

Expeditious client onboarding
with zero IT involvement

Integrated auditable workflow and dashboards provided management with
real-time insight and greater risk control

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