For many banks, migration represents one of the most challenging and complex elements of cloud transformation and implementation of the bank's strategy. We detailed our collective view on this in a joint thought-leadership blog with Thought Machine: Core banking transformed: accelerating migrations with cloud-native cores
Accenture Data Migration Platform (ADMP) is a tried-and-tested migration tool that has been used for more than 150 migrations across many industries, including financial services, all over Europe for over 20 years. The tool has a proven methodology and is highly adjustable, scalable and compatible.
Accenture and Thought Machine have been working together to configure ADMP to assist banks with Vault Core migration
ADMP can support Vault Core migrations through;
(i) data transformation tooling that aligns with Vault Core’s data structure,
(ii) a bespoke data messenger that communicates directly with Vault Core’s APIs, and
(iii) enhanced reconciliation reporting to show the results of the transform and load elements of a Vault Core migration.
These efficiencies can enable a faster route-to-live by minimising ETL tooling build.
Together we have proven these capabilities through a series of test-and-learn MVPs, on different product types and at different volumes.
How does the customised ADMP tool help?
Pre-defining Vault Core’s target structures across key resources (Customer, Account and Postings data) is integral to our tailored transformation tool. This reduces the effort required in data mapping to allow us to focus on the source’s target state only.
Potential to save up to 3 weeks of dedicated FTE effort on target mapping. As part of this tool, unique product-specific fields (e.g. length of term for a specific mortgage type) will be identified from the Vault Core smart contract and factored into mapping. Both elements of this mapping and transformation process have been tested across key product types: Current Accounts, Loans and Mortgages
Our Data Messenger leverages custom-built APIs to call Vault Core’s migration APIs. The sending of transformed data is automated for optimum efficiency, removing 8+ weeks of custom development and integration of client APIs to Vault’s Data Loader.
The Data Messenger has also been tested across Current Accounts, Loans and Mortgages and numerous customer and account scenarios.
Custom write-back functionality enables field-level Operational Reconciliation. This ensures data accuracy via configuration to Vault Core’s in-built quality thresholds and a significant reduction in the processing effort of individual Vault messages.
Reports are generated (see Figure 1) to show the output of reconciliation and quality checks clearly. This helps banks understand quickly why and where any issues have occurred in the migration process. Error messaging and individual account level information for the user are provided to allow for further analysis if required.