About Matrix Open Banking Hub
Matrix Open Banking Hub (by Matrix FinTech & Digital) is a comprehensive and secure solution designed to empower banks and FinTech companies in the rapidly evolving open banking landscape. With seamless integration capabilities, advanced security measures, and compliance with regulatory standards such as PSD2 Berlin, their Open Banking Hub connects FinTech companies to real-time customers’ financial data, enabling personalized financial services, unlocking exponential growth, simplifying connectivity, and enabling clients to focus on their core business assets.
The Challenge
Initially, the open banking system was operating on-premises. Under this setup, Matrix Open Hub lacked the capability to seamlessly incorporate external entities such as banks and insurance companies. The primary objective was to transform the open banking solution into a Software as a Service (SaaS) model. This transition aimed to enhance security and scalability, enabling the provision of reliable and expandable services. Upon achieving the SaaS model, the organization would be empowered to effectively offer its services to external customers.
The Solution
Leveraging our expertise in AWS cloud technologies, CloudZone provided the necessary support and guidance to help Matrix Open Hub quickly develop and launch new FinTech products or services. By leveraging real-time customer data, CloudZone enabled Matrix Open Hub to stay ahead of the competition.
We worked closely with Matrix Open Hub to deliver personalized experiences that catered to each customer’s financial needs. Our team of experts collaborated to eliminate manual data entry and reconciliation processes, reducing operational costs for Matrix Open Hub. The streamlining of processes and implementation of efficient decision-making, made possible by AWS, significantly contributed to overall cost optimization.
CloudZone assisted Matrix FinTech & Digital in optimizing its SaaS solution and listing it on the AWS Marketplace, allowing it to reach new markets and grow the business in a scalable manner.
The results
Through our collaboration with Matrix Open Hub, CloudZone empowered them to leverage the full potential of AWS cloud technologies, enabling them to drive innovation, enhance customer experiences, and optimize cost. AWS services used included Route53, AWS Amplify, AWS WAF, S3, API Gateway, Lambdas, Event Bridge, DynamoDB, Aurora, System Manager, Security Hub, Certificate Manager, and AWS Config. With our expertise and AWS cloud services, Matrix Open Hub simplified connectivity, unlocked exponential growth, and focused on its core business assets in the open banking landscape. The seamless integration capabilities, advanced security measures, and compliance with regulatory standards such as PSD2 Berlin ensured FinTech companies’ secure and efficient connection to real-time customer financial data.
As a result of listing Matrix FinTech & Digital Open Banking Hub solution on the AWS Marketplace, the company expanded its reach into new markets and lowered upfront costs for its customers.
״CloudZone reduced our time to market by 50%. Their highly professional AWS Certified Solution Architect allowed our Developer to design a state-of-the-art serverless architecture that serves excellent value to our customers “
Ravit Danieli – Integration Solution Wing Manager
