Validata Group, the leading provider of Validata SAS, the first truly integrated Automation Lifecycle Management solution for the Banking and Finance Sector, is pleased to announce that EastWest Banking Corporation (EWB) in Philippines have successfully implemented Temenos T24™ as their new core banking system with V-Conn.
EastWest is one of the country’s fastest growing banks, with a network of 400 branches and a large client base. The bank took the decision to replace their core banking system, Phoenix, with Temenos T24™ and selected V-Conn to effectively and efficiently manage their migration process. Apart from Phoenix, V-Conn was used to migrate data from Tradewind , the bank’s trade finance system as well as from Finstudio used for GL.
V-Conn is a Business Intelligence and Data Integration platform; an Integrated user interface parallel processing tool for EVTL, Data Management and Data Quality Framework.
Unlike traditional migration solutions, V-Conn is able to provide Audit and Process Control ensuring that compliance standards and regulations are met, incorporating financial reconciliation reports at all levels. V-Conn’s tight integration with TEMENOS T24™ was also an important factor that led the bank’s selection process. The TEMENOS T24™ integration, the support for AA, pre-built mapping templates, data consolidation and validation capabilities and specialized adapters results in a data migration, with higher data quality that would have been impossible otherwise.
Vaios Vaitsis, Founder and CEO of Validata Group said, “V-Conn helps customers improve the quality of their core banking systems achieving unprecedented levels of efficiency and effectiveness. V-Conn’s migration/reconciliation technologies, delivering a best-of-breed suite of proven migration modules, help accelerate the migration process at a lower cost to the business.”
Randy A. Evangellista, FVP & Head Information Technology Group, commented “Validata’s solutions were the only to meet all of our requirements surpassing all of its competitors, and provided our team with the confidence needed to move forward with the go-live. They have helped us identify, isolate and resolve issues well before production which allowed us to achieve significant time and cost savings and increased customer satisfaction. The tool’s usability and support were outstanding!”