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Matera Builds on Pix Success With Digital Twins and QR Codes in US Expansion

July 24, 2024

The eternal debate in financial services technology boils down to build vs. buy, and whether to rip and replace core banking operations.

By matera

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The eternal debate in financial services technology boils down to build vs. buy, and whether to rip and replace core banking operations. Banks have invested a lot of time and money in those core systems — they have a lot of data there too — and so they are loath to give up legacy tech. 

There’s a major problem though, especially as U.S. financial institutions (FIs) gear up for instant payments across FedNow® Service and The Clearing House’s RTP® rails: Their back-end systems simply were not designed to handle the rigors of faster fund flows, real-time balance updates and demands of operating ledgers 24/7/365. It has become an imperative to create a more modern infrastructure to help these FIs make the digital leap into instant payments, and to connect to one another across new payment rails. 

Read the full article on PYMNTS.com here.