matrix (בנקאות)

Matrix IT was founded in 2001 and has been led by CEO Moti Gutman since its inception. Headquartered in Herzliya, the company is publicly traded on the Tel Aviv Stock Exchange under the ticker MTRX. Matrix employs over 10,000 people, with the vast majority located in Israel. The financial services and banking division operates as a core pillar of its business, providing system integration, digital transformation, and core banking IT services for Israeli financial institutions. Matrix operates as a subsidiary of Formula Systems, which holds a controlling stake in the company.

In the banking sector, Matrix does not sell a single off-the-shelf SaaS product; rather, it focuses on IT integration and technology consulting. The company implements core banking systems, builds Open Banking APIs, and integrates third-party risk management, anti-money laundering (AML), and customer relationship management (CRM) platforms. The primary buyers are CIOs and IT departments within Israeli banks, credit card companies, and insurance firms. Engagements are typically structured as large-scale enterprise contracts involving dedicated development, QA, and deployment teams.