Financial institutions of all sizes are looking to migrate their business into the cloud due to the many advantages to this strategy. However, migration is a momentous task, particularly for business banking applications, not least because a tremendous amount of data is involved. These challenges are amplified for larger institutions. In fact, a great test of a migration tool is to test it on one of our nation’s largest banks.
That’s exactly what happened recently when one of Xtensifi’s clients, a top 20 US bank, experienced our tool’s benefits first-hand.
An excellent test case
This client first came to Xtensifi in late 2015 to request assistance with migration from their existing corporate banking platform to a new vendor. Like many banks, they planned to migrate platforms over a weekend, so their processing window was limited. Hence, the processing cycle had to be tuned as much as possible to support the migration of thousands of businesses, their associated entitlement schemes, history, ACH templates, wire templates, etc. per hour.
The project involved:
- A fast, accurate, and repeatable data extraction phase, pulling data from the current platform so that it can be transferred to the new one
- Meticulous data mapping of every element for a perfect match between the two systems
- An accurate process for retrieving customer entitlements saved in the database in a complex and highly granular manner
- A seasoned testing team to ensure that the extracted data files matched what was in the database exactly
Using Xtensifi’s migration tool, that was designed to assist in identifying and creating migration waves as well as mapping data from the existing platform to the new one, ensured that all necessary entitlements and data elements were moved over to the new system—thus protecting one of the banks’ most valuable assets, customer data.
As this client can attest, an online banking migration is never easy, but it can be greatly simplified with careful planning, a predetermined process, and the right tools. Get the full case study on our website.