Matera, a primary bank technology supplier, has unveiled Matera Workspace, a product aimed to support banks and credit unions in extending their businesses to incorporate both fiat and digital assets. The latest software platform allows banks and credit unions to tap into cryptocurrencies along with the stablecoins and other forms of digital assets available today without compromising their current banking infrastructure.
The platform combines Matera’s real-time ledger, X9.150 Secure Payment QR, and custody integrations. Moreover, it provides a lightweight extension that connects digital asset services with existing banking infrastructure.
“Banks aren’t short on interest in digital assets – they’re short on a way to start that doesn’t begin with a core replacement and an eighteen-month business case. Workspace removes the first step as an obstacle: there’s nothing to rip out, nothing to migrate, and nothing to unwind if a pilot doesn’t earn its place. That changes the question from ‘can we afford to try this?’ to ‘what do we launch first?’” said Carlos Netto, co-founder and CEO North America of Matera.
Matera Workspace Simplifies Digital Asset Adoption
Banks exploring digital assets often face challenges beyond choosing a token. They must determine how balances operate, how transactions involve counterparties, and how their ledgers remain balanced. Matera Workspace addresses these operational requirements through an integrated application platform. At the center of the platform is Digital Twin, Matera’s real-time ledger. The technology already supports instant payments in production environments. Furthermore, Digital Twin records different assets as balances with equal standing.
Such assets include US dollars, euros, stablecoins, cryptocurrencies and tokenized instruments. This means banks can show USDC next to US dollars in the same account view. Both balances are available to users without having to switch to a different section of the cryptocurrency. This helps institutions to embed digital resources into the familiar banking experience. It also provides a practical way to explore new financial products while maintaining existing core banking infrastructure.
Integrated Banking Technology Reduces Implementation Complexity
Matera Workspace combines Digital Twin with the company’s X9.150 Secure Payment QR and ready-made custody integrations. These integrations include leading custody providers in the market. In addition, the platform connects to a bank’s existing core through a single, lightweight integration. As a result, financial institutions can evaluate one integrated vendor relationship. They do not need to coordinate separate providers for the ledger, custody, payment QR, and trading engine.
This unified approach can make implementation easier and lower the complexity of integration. Matera says institutions can kick off a working pilot in roughly an hour. There is no core migration in the process. Also if a project does not go ahead, banks do not need to rip out existing systems. This flexibility allows institutions to experiment with digital asset services without needing to invest in a complete infrastructure replacement.
Matera highlights a working path to digital assets
His statement highlights the challenges banks face in exploring opportunities in digital and standard assets. Institutions traditionally may need to make major planning and infrastructure changes before they can launch new services. Matera Workspace, however, wants to make it easier to do some initial experimenting.
The platform also provides banks with an alternative way to evaluate potential offerings by removing the need to replace the core. Institutions can therefore focus on identifying appropriate products and testing demand for them before making broader commitments.
Built-In Trading and Customization Capabilities
Matera Workspace also includes a trade engine that allows customers to transact directly with their bank. Instead of routing transactions through a marketplace, customers conduct trades within the institution’s banking environment. This arrangement keeps transactions within the bank’s existing regulatory posture. It also supports institutions seeking to introduce digital asset services through established banking relationships.
Matera also architected Workspace to support extensions built by banks themselves. The platform features a declarative screen builder and AI authored workflows. These capabilities enable institutions to further develop products and tailor applications. Banks can develop new services using Workspace without starting from scratch. So they can experiment with different digital banking experiences using the capabilities already built into the platform.
Building Digital Asset Opportunities for Financial Institutions
The launch of Matera Workspace is a sign of the growing convergence of traditional banking and online assets. Financial institutions are exploring avenues to support stablecoins, cryptocurrencies and tokenized instruments as well as traditional currencies. But combining these services requires more than access to digital resources. Banks also need good ledger administration, custody arrangements, transaction processing and compatible technology.
All these components are contained within the Matera Workspace in a single application platform. It also offers an alternative to replacing extensive infrastructure by tying in with existing core banking systems.
Its integrated architecture is also a platform for pilot projects and future product developments. Banks and credit unions can consider digital asset offerings in relation to their current banking environments. Matera Workspace aims to provide financial institutions with a more direct route to adopting electronic assets. The platform combines real time ledger technology, payment QR capabilities, custody integrations and trading functionality. This allows banks to experiment with digital financial services without replacing their core systems.
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News Source: Businesswire.com
