Matrix-IFS Named “Top 10 Risk & Compliance Solution Providers 2018”

Strengthening Business and IT Compliance

Since 2006, Matrix International Financial Services (Matrix-IFS) has been helping financial institutions strengthen business compliance and address financial crimes and fraud issues, with a goal to satisfy both regulators and clients with effective, efficient and cost-effective solutions.

Company CEO Renan Levy notes that Matrix-IFS offers an entire spectrum of solutions and services, ranging from
advisory to consulting, system integration and implementation, to operational improvements and automation,
addressing anti money laundering (AML), Trade Surveillance, fraud and compliance. Its strong business acumen
and deep knowledge of global regulations coupled with technological expertise have made Matrix-IFS the go-to firm for risk and compliance solutions.

Matrix-IFS fills the market’s tactical and strategic gaps with respect to compliance using an end-to-end approach that leverages market-leading software solutions with advanced technologies like visual analytics, machine learning, and AI.

“Our end-to-end approach breaks the silos between advisory, implementation, and validation processes to combat pecuniary crimes such as AML”


Varatharaj Sankararaj, senior director of financial crime practice, Matrix-IFS.

With current market surveillance tools producing high false positives which increase risks within banking ecosystems, Matrix-IFS deploys a multi-pronged strategy. Utilizing visual analytics dashboards, the firm enables users to ascertain whether outcomes of client-framed rules are in sync with intended purposes, failing which, new protocols are recommended. Secondly, data clusters and alert distribution patterns are thoroughly scanned to detect anomalies in data. Finally, technologies such as robotic process automation are employed to automate detection of false positives, which provides controls using visual analytics to simplify system validation with a limited workforce.

“Visual analytics also provide visibility into incoming newsfeeds and crucial regulations”


David Grinholz, senior director of capital market practice.

Matrix-IFS is both vendor- and technology-agnostic with regard to implementing solutions. The company’s in-house technical skills assist clients in end-to-end assessment, implementation, customization and tuning their solutions. Matrix-IFS constantly works on acquainting itself with the latest technologies and enhancing its solutions and services. “Our sole focus is on delivering the best system and services to ensure on-time completion and to maximize our client’s ROI,” says Mr. Levy. Post-deployment, the company supports its customers with ongoing maintenance, optimization, calibration, tuning and support.

Having successfully implemented over 300 projects for many of the world’s top Tier One and Tier Two financial institutions Matrix-IFS has valuable knowledge on industry best practices and practical experience to serve banks and financial services firms under pressing timelines and regulatory demands. In one instance, a global bank sought assistance from Matrix-IFS to assess a particular risk from a market surveillance perspective. Matrix-IFS analyzed the situation and proposed a hybrid approach to monitoring the risk, which demonstrated the convergence of AML and market surveillance by redesigning the workflow to enable closed-loop operations within the business. The new workflow effected a sea change in the environment by allowing the money laundering reporting officer to track the accuracy of regulatory documents, thereby minimizing risk of financial malpractice.

Looking to the future, Matrix-IFS intends to focus on global expansion, automation and advanced technology and offering additional advisory and compliance services to their customers. Matrix-IFS is well positioned to address new trends in the AML and Fraud prevention space including new reporting requirements both in the US and Europe (MiFID II), deal management systems in European capital markets and to leverage blockchain and cryptocurrency technologies to enrich its service offerings.

“Increasing use of advanced analytics calls for a revamp of data quality at our clients’
locations. We see ourselves at the forefront of using advanced technology & helping clients effectively address compliance and fraud while reaping the benefits
of better ROI.”


Renan Levy, CEO, Matrix IFS

Matrix-IFS’ strategy behind data quality and governance revamp is to use AI and machine learning to push the envelope of innovation.

About Banking CIO Outlook

Published from Fremont, California, Banking CIO Outlook is a print magazine that features CIOs, ITVPs, CTOs and other decision makers’ opinions and suggestions that helps clients to address the issues in the banking industry. A panel of experts and professionals including board members of Banking CIO Outlook magazine finalized the list of “Top 10 Risk & Compliance Solution Providers 2016” and shortlisted the best consultants and vendors.

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