ATLANTA--()--Matera, a global leader in instant payments, QR code, and digital ledger technology, has released a new whitepaper titled "Unlocking Innovation in Financial Services: The Digital Twin Approach." The paper explores how digital twin technology can help financial institutions meet growing consumer expectations for real-time, always-on banking services without overhauling their existing core banking infrastructure.

The whitepaper highlights the limitations of traditional core banking systems, many of which were designed in the 1980s and struggle to support 24/7 digital transactions. As consumers expect instant payments, on-demand services, and uninterrupted access to their finances, banks and credit unions must find ways to modernize without the costly and risky process of a full core replacement. Digital twin technology provides a scalable solution by enabling real-time transaction authorization and balance updates, even when the core system is down.

Matera’s whitepaper reveals compelling use cases for digital twins, including:

  • Real-Time Capabilities to Support Instant Payments: Implementing a digital twin allows banks to authorize transactions and update balances in real-time, ensuring uninterrupted service even during core system downtimes.
  • Cost-Effective Modernization: By integrating a digital twin, financial institutions can avoid the high costs and risks associated with a full core system replacement, achieving modernization with minimal disruption. This equips institutions for future innovations such as open banking and generative AI.
  • Simplified Integration for Mergers & Acquisitions: Digital twin technology facilitates seamless integration during mergers and acquisitions. The digital twin can be implemented well in advance of the core switchover, providing ample time to test and ensure a smooth migration.

“The need for real-time banking experiences is growing rapidly, and financial institutions can no longer afford to operate on outdated infrastructure,” said Carlos Netto, CEO of Matera. “Our latest whitepaper provides a roadmap for banks and credit unions looking to modernize without the disruption of replacing their core systems. Digital twin technology offers a practical way to enhance legacy core banking systems and meet modern demands.”

As the U.S. sees increased adoption of instant payments through FedNow and RTP, financial institutions must prepare for the inevitable rise in transaction volumes and consumer expectations. Digital twin technology offers a scalable, cost-effective solution to bridge the gap between legacy core systems and the demands of modern banking.

Download the full whitepaper here. For more information about Matera and its digital twin technology, visit https://www.matera.com/en/.

About Matera

Matera is a pioneer in modern technology powering banks and credit unions with cutting-edge solutions for Core Banking, Instant Payments, and QR Code Payments. With over 30 years of expertise and a team of 1,000+ professionals, Matera is the trusted partner behind some of the world’s largest financial institutions. Two of the top three global banks, three of the top 10 U.S. banks, and one-third of all banks in Brazil rely on Matera’s technology. Operating across Brazil and North America, Matera is redefining the future of digital finance. To learn more, visit: www.matera.com.