---
title: Modernizing Payments | Matera Javelin Whitepaper
description: This report focuses on a novel approach to helping financial institutions navigate the vexing problem of updating outdated, legacy core banking systems.
image: https://insight.matera.com/hubfs/Matera-Modernizing-Payments-Whitepaper-Social.jpg
---

Whitepaper

# Modernizing Payments:

### The Digital Twin Approach

![graphic](https://insight.matera.com/hs-fs/hubfs/graphic.png?width=468&height=371&name=graphic.png)

The rapid pace of change in financial services and payments has created a challenge for financial institutions, one that must be met quickly if they are to remain competitive; FIs must modernize their systems to meet the rising consumer demands for instant payments and mobile transactions.

In this whitepaper, Javelin looks at Matera’s promising solution – the digital twin approach to payments.

Digital Twin offers banks the opportunity to satisfy user demands immediately without replacing aging core banking platforms and also puts those FIs on a path toward modernizing their critical systems.

### In this whitepaper, you'll learn:

- How a digital twin approach involves abstracting balances from the Core to an “always-on” system to respond 24X7 to credit & debit requests
- How better customer experiences are enabled with digital twins - including access to real-time payments as well as more control over finances, balances, and accounts
- How API and event driven architecture leveraged by digital twins allows for efficient communication with critical systems that need to act on specific changes
- How digital twins can be deployed in the cloud to scale as demand requires reducing operational risks and costs

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