EYNOD
The operational heavy lifting of legacy technology Before a solution like Eynod was available, the day-to-day experience for fiduciaries was defined by fragmented technology and intense manual labour. Financial leaders had to patch together legacy banking solutions that were never designed to handle complex trust structures at scale.
” When you’ re dealing with the volumes that we deal with, and these clients are dealing with, and the margins are low and the operation is heavy, you end up spending far too much time working on an operational level. you’ re not making money or you can’ t take on more cases,” explains Isaac Itzkowitz, CEO of Eynod.” That’ s what it boils down to.” Paper checks proved particularly problematic, especially when global supply chain disruptions and postal delays emerged.“ Paper checks in general are extremely outdated in my opinion,” Isaac says.“ They are difficult to reconcile – easy to reconcile in theory, but making sure they got to where they had to go, that they were applied to the account, they were posted— all of those different things.
“ And we’ ve seen a much bigger increase in issues since COVID, when we were sending out thousands and thousands of checks a month and people were calling us up and saying,‘ Hey, it’ s been three weeks. The utility company hasn’ t cashed my check. What’ s going on?’”
The resulting reconciliation backlog required a massive allocation of staff and time. At the time, Eynod’ s parent organisation managed 15,000 individuals
“ This kept moving in a worse direction, and we said enough is enough. We have to start building a platform that gives us real insight, real-time money movement... and start moving the needle”
Isaac Itzkowitz Founder & CEO Eynod
day-to-day, moving approximately 25,000 checks every month. The internal ecosystem was severely fragmented, utilising one provider for virtual cards, another for Automated Clearing House( ACH) transactions and a third for physical plastic cards.
This disconnected flow created significant financial exposure. If a beneficiary’ s incoming pension or Social Security payment suffered an ACH rejection after rent checks and grocery cards had already been processed, the account fell into the negative. Operations had to halt, checks had to be manually stopped and the entire disbursement cycle had to be painstakingly reissued.
” This kept moving in a worse direction, and we said enough is enough,” Isaac notes.“ We have to start building a platform that gives us real insight, real-time money movement, all the different payment modalities, and start moving the needle.”
58 August 2026