One of the most vital − and delicate − tasks undertaken in a new system implementation is the migration of data from a bank´s legacy system(s) to the new core banking system. Keeping accurate data, from customer account information to granular transaction details, is the lifeblood of the banking business.
SOFGEN undertakes a comprehensive review of existing data, studying the many challenges involved in reconciling the old and new systems. Once the studies are complete, we deliver a Data Conversion and Reconciliation Strategy Report that describes the data migration approach (manual vs. automated, for instance), the automated data conversion and reconciliation routines required, and the reconciliation approach to be used.
We work with the customer to refine the migration approach, conducting dress rehearsals and mock migrations until such time as we can confirm that we are able to migrate the data in the timeframes required by the bank.
Our technical consultants have the requisite experience to conduct this task with the vendor tools provided and where necessary they create customized data migration tools.