About
Matrix International Financial Services (Matrix-IFS) is a leading provider of financial crime and compliance solutions and services for the financial sector, trusted by top-tier institutions worldwide. They advise and implement anti-money laundering (AML), risk management, fraud prevention, and trade surveillance solutions. This enables clients to plan, build, and maintain highly efficient and effective financial crime prevention systems and processes while adhering to strict regulatory and compliance standards.
Matrix-IFS offers a Fraud Prevention Solution powered by the IBM Safer Payments platform on the AWS cloud. The offering combines advisory tools and methodologies to enable enterprise-level financial services for mid-sized customers at a competitive price. It helps them address their business challenges by leveraging the scale and flexibility of the AWS Cloud. Matrix-IFS is a one-stop-shop for Anti-Fraud services hosted on the AWS cloud and powered by IBM. The fast integration process saves on implementation costs and the total cost of ownership.
Challenge
Matrix-IFS needed to modernize their solution and offer it as a Software-as-a-Service (SaaS) in order to unlock co-selling opportunities with AWS. Their goal was to optimize IT costs and reduce the sale cycle length. Furthermore, they sought to transition from a project-based business approach to a recurring revenue model.
Solution
As part of theFraud Prevention Solution transition to a Software-as-a-Service (SaaS) model , CloudZone provided guidance and support to the Matrix-IFS team and conducted various technical sessions to ensure seamless integration. Collaboratively, the teams designed a fraud detection SaaS solution following the AWS SaaS framework.
Matrix’s Fraud Detection solution leveraged AWS Native services to achieve its objectives. This includes utilizing VPC for infrastructure networking, EC2 for application management, Load Balancer to handle traffic, S3 and RDS (Oracle/PostgreSQL) for data storage, AWS Lambda for logic and application handling, API Gateway to manage API calls, and AWS Directory Service for user management with enhanced security. Additionally, we integrated IBM Safer Payments platform as a third-party service.
CloudZone took full ownership of the end-to-end modernization process, transitioning the solution from on-premises to a SaaS model and facilitating its listing in the marketplace. The project encompassed architectural solution design and hands-on professional services delivered by CloudZone’s DevOps engineering team.
Results
The CloudZone team successfully completed Matrix-IFS Fraud Prevention Solution onboarding to AWS, from the initial discovery workshop to the establishment of a fully integrated development environment, all within a remarkable timeline of three weeks. This accelerated process significantly and reduced the time to market by no less than 50%. Once the project was completed, CloudZonewe continued to provide end-to-end management for Matrix IFS’ Cloud environment through our Cloud Master MSP offering, handling ongoing support, maintenance and cost optimization and ensuring best-in-class performance and security.
Tzvika Eliyaho, Matrix IFS CTO said, “CloudZone reduced our time to market by approximately 50% compared to our internal DevOps capabilities. Leveraging our solution to the AWS Marketplace has allowed us to significantly expedite our go-to-market process.”
