Migration and Financial Reconciliation

Data migration may sound simple, but it isn’t. In fact, it is the one of the most risky, complex, and time-consuming IT projects. Whatever the specific nature of any project which requires data migration and modernisation, the ultimate aim is to deliver a new environment to improve corporate performance and deliver competitive advantage.
The main challenges that most of the organizations face during their core banking transformation projects are:
  • Lack of quality of source data and lack of data knowledge
  • Mapping multiple core banking legacy systems into a single platform
  • Large volumes of data and data redundancy
  • No formal migration methodology or methodology
  • Migration is usually seen as one-off activity leading to a scripted approach with limited reusability, high risks, longer implementation plans
  • Engagement from Legacy & Digital banking system , Business & IT subject matter experts (SMEs), impact time & cost to engage related resources
  • Unscheduled downtime to Legacy Services and semi- automated procedures
  • Maintenance of delta logs (data) while conducting multiple mocks
  • Financial loss in the accounting books due to inaccurate data mapping and extract specifications
Simplify and De-risk your Data Migration project
ConnectIQ is a dynamic Data Platform, that enables you to efficiently design and execute your core banking data migration projects offering consistency and quality throughout the process.

It is a no-code platform to support data migration, data integration and financial reconciliation, both for the Temenos core banking environment and any other application with:


A fast storage/staging area,
Extract, Transform, Load, Validation, Reconciliation of data
Data Profiling and Data Cleansing
Generic and specialized connectors to integrate with any system
A centralized data repository and advanced features such as Archiving and Searching
Inbuilt scheduling and sequencing capabilities
A pre-packaged Banking Model is included within the solution to significantly accelerate the data migration process for your implementation and upgrade


Deliver true end-to-end Financial Reconciliation
By choosing Validata for true end-to-end reconciliation you get:


Support for the full range of financial instruments (wires, checks, cards, ACH, Swift, cash) as well as securities, inter-company transactions and trades – all in a single platform
Full automated end-to-end reconciliation process from loading and enhancing data to solving exceptions
Integration of both balance-level and transaction-level data to increase visibility of what has caused exceptions
Standardized processes for transparency and visibility across all asset types and scenarios
Enterprise-wide governance and control

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