The transition of core banking systems is often challenging for banks. At Deloitte, we believe it requires a dedicated approach, as standard data migration solutions are rare. Banks work with large volumes of disparate data on a daily basis. After years of expanding infrastructure, extending offers and growing by acquisition, data are often distributed in multiple legacy systems with missing documentation and technical knowledge. Each system stores data in a disparate manner. Often there is no mechanism in place allowing the identification of duplicated information.
Modern systems do not rely on relational databases anymore. Instead, data are stored as objects or even as states. Migrating directly through a database interface is no longer a valid option. Dedicated APIs for migration messages must be used as the data must undergo a system validation process that verifies internal dependencies and data quality, often with the same scrutiny as regular user input.
Today, time-sensitive projects require a fast migration process alongside functional implementation. This approach increases the complexity of the migration development and testing, which cannot wait for the completion of all functional solutions. Migration and functional design teams must tightly cooperate and maintain a constant feedback loop to ensure that the system design includes data migration related challenges. Early execution of migration runs is essential to validate the current solutions with real data and minimise the impact of migration on functional system design, which may be a substantial hidden cost item if detected later during the project.
Common ETL (extract, transform, load) tools are often insufficient to address these challenges and ensure successful migration according to the project plan.
Deloitte Migration Accelerator was built based on our extensive experience in core banking migration projects and used during multiple migrations. Core design principles allow our clients to smoothly transition to new systems. We have focused on the successful execution of migration runs despite imperfect conditions in early project stages when most functional solutions are not yet fully ready and require the flexibility of the migration process adjustment. Owing to our migration accelerator, even first migration runs will be finalised within the schedule, and the migrated data will exist in the target system. Bank’s personnel will be able to start validating the migration and learn the use of the new system and its functional solutions right after the first migration run. Any changes being part of the provided development services can be requested at early project stages when the cost of their implementation is still low. Using Deloitte Migration Accelerator not only minimises costs and reduces time but also helps with the functional transition.
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Deloitte Migration Accelerator offers banks many benefits. It is:
See a simplified architecture of Deloitte Migration Accelerator:
Deloitte Migration Accelerator is much more than just an ETL tool. It’s a highly flexible and proven migration engine dedicated to supporting core banking system migration projects.
Key differentiations of Deloitte’s tool are:
Find out more about our partnership with Deloitte and their Global Thought Machine Centre of Excellence here.