Data migration in core banking is all about the seamless mapping of entries, balances, P&L/balance sheet data, customer information and all other related data from the source to the target system. The actual value is in the data so effectively migrating as much of this as possible will help to reap the returns on the overall project. Forrester estimates that around 60% of banks around the world are already planning or performing a transformation project, therefore an accurate and timely migration is critical for ensuring effective core banking system deployment and decommissioning of the old legacy systems.
Read more...