When we talk about the economic crisis, the market crisis of 2007 is always underlined. The crisis exposed the world to the urgency of managing challenges to financial risk. Wealth management is not a new concept but the increase in breaches is highlighting the urgency of a better approach. If things go wrong, the consequences can be brutal—worst comes to worst it may result in another financial crisis. While digitalization and automation are being integrated into business processes, they are still exposed to greater model risk and misuse. Not only tech advancements but the COVID-19 is also partaking in the risk management industry’s challenges.
So, will these challenges change how risk professionals work or give rise to new, more strategic roles?
Basavaraj Puttappa established Zeva Astras, to simplify the wealth management services for the clients and save them from entangling in the complex process of understanding cryptic rules and regulations. He is a proven visionary and strategist with the expertise to assess the strengt Preview (opens in a new window) hs of resources through realistic optimism. As a true leader, he is leveraging his experience to lead the risk management industry with Zeva Astras.
Robust Wealth Management
In 2017, Zeva Astras was founded to build a robust wealth management ecosystem with a mantra to make investments simple. A platform that mitigated the risks while also providing centralized, transparent, and accessible Financial and Risk Management Solutions for people from all walks of life.
The journey has been a roller coaster but Zeva Astras is successfully listed among the leading risk management providers. Recently, the company won the Economic Times-Excellence Business Award-2020. Moreover, Basavaraj was honored with the “Times 40 under 40” recognition. He has been the cornerstone of the company and till date ensures to keep track of all six verticals of services offered by Zeva Astras.
Making Investments Simple
As the pioneer of wealth management organizations, the team of Zeva Astras keenly plan and structure the clients’ portfolio by considering the long and short-term goals. “We have a time-tested approach that thoroughly evaluates your risk appetite and goals before offering our products,” explains Basavaraj. Additionally, Zeva Astras also acts as the financial advisor of the client and assists them throughout their term with the company. Clients are advised with long or short-term saving schemes and investment plans.
The wide-ranging service portfolio distinguishes it from the other wealth management companies. Zeva Astras’ portfolio of services includes Portfolio Management Services (PMS), Portfolio Advisory Services (PAS), Trading Platforms, Private Wealth, Financial Planning, and Alternative Investment Fund management.
The backbone of these value-enhancing services is the Technology-steered mechanism. The technology enablement helps to integrate the services in seamless manner; the offerings become unbiased with minimal human intervention experience to clients. Basavaraj opines, “The technology-backbone was designed to mitigate risks involved in all financial transactions the clients are involved in.”
Overcoming Mammoth Challenges
Zeva Astras has never limited its Financial Risk Assessment services to a particular sector or vertical. However, convincing clients for the inclusion of these services is a mammoth challenge. The rise in hardening markets is surging the challenges for every sector. “Initially hard-hit segments were entertainment, health care, and hospitality but now it is not about generic risk all those who are insured and brokers are made to understand the nature of every individual company and product segments. This alone can ensure better risk management,” he explains.
The inclusion of advanced tech is the reality of today’s business landscape. Adhering to this, Zeva Astras relies on Technology-Driven Solutions to accurately predict the behavior of various segments.
Concerning the current scenario, risk management becomes the key requirement for almost all sectors. Being an expert, Basavaraj has gained his knowledge through his experience and understands the importance of risk management. Sharing his perspective on why today’s industry needs Risk Management he has listed down the reasons,
- It enhances operational efficiency
- Provides avenues to deal with company finances effectively
- Enhances the Customer Satisfaction factor
- Companies Health, integrity, and resilience are improved
- Reveal operational inefficiencies, opportunities to save money, and opportunities to avoid or deal with risks that could compromise the company’s finances
Need of the Hour
Basavaraj stresses the fact that the modern Risk Management System is the need of the hour. With the unprecedented outbreak of COVID-19, the urgency has magnified. Indeed, the world was not prepared for the virtual shift, but many businesses managed to pivot towards digital platforms—with underlying risks. The much-awaited digital transformation dawned upon the globe with no prior preparation.
Zeva Astras’ approach also pivoted with the advent of the global health emergency. The team created a dashboard for insurance managers to monitor the Insurance Renewals. As risk analytic tools are vital for Risk Appetite identification, the company leveraged them to derive meaningful insights, and also offered optimized and automate reporting.
The pandemic has created greater opportunities for cloud-based cyber security-enabled tools in every segment of the business. In the post-COVID era, the businesses will have to be ready with a plan-B of operating online. More virtual platforms mean higher protection and resilience are vital. A modern Risk Management System will not only mitigate the risks but also offer enhanced accuracy in analytical data.
Recurring Change and Challenges
Observing the changing landscape and transformation, Basavaraj is focused on building a trading platform Zeva Trade and Alternative Investment Funds using Artificial Intelligence technology. These AI-based tools are the tech-steered platforms designed to minimize the risks clients go through while trading or creating portfolios.
Last year has been challenging for many entrepreneurs but Zeva Astras stood to affirm amidst the economic storm. Basavaraj has played a key role in keeping the company afloat. He has always accepted the changes and challenges as they come, he adds, “Challenges are aplenty and it is not new in my journey so far.”
He concludes by quoting a Sanskrit saying, “KALAYA TASMAI NAMAHA”—meaning everything is enslaved by Time and nothing is eternal in this universe.
Read full issue: The 10 Risk Management Solutions Providers 2021
