Payment and settlement systems require constant modification and modernization. Implementing these changes is often extremely costly due to the known and unknown complexities of the multiple, tangled agents, systems and behaviours involved.
The only way to understand the true complexity is to construct a digital twin of the payment ecosystem and learn through simulation.
For decades, industries like healthcare, engineering, defence, construction and transportation have harnessed the benefits of simulation. FNA’s Digital Twin now makes it possible for financial institutions and FMIs embarking on their own major projects or seeking to design and optimise complex systems through simulation.
A learning-by-doing approach on real-world systems is difficult, costly, and risky. Learning-by-simulating not only avoids these costs and risks but allows for flexible and comprehensive iteration and testing to achieve a reliable plan.
By creating digital twins, Central Banks, FMIs & financial institutions can simulate how their systems would perform under different designs, conditions or scenarios without disrupting the real-world system.
Quantify impacts of changes to the system including: