At the start of this year, many industry experts in banking predicted that 2020 will be a year of disruption. Three months down and what a disruption it has been. Nobody saw the disruption of Covid-19 coming, impacting not just banking but the entire global economy.
Once the recovery process starts, banking industry must be in the forefront to bring back the economy from the recession that is hitting us. Mergers and acquisitions will gain greater impetus. Banks will be forced to invest on digital platforms that will help them grow faster.
Whether it is M&A or implementing new digital platforms, the critical success factor for these programs will be Data migration. In a large scale banking program, data migration receives the least attention and budget of the program management. However, data migration remains the most complex and most critical aspect of the program that can decide the success or a failure of the program.
We have created this blog series for those who want to a better understanding on Banking Data Migration. We will write on various different related topics that will give a total new perspective on the subject.
Our experts from our data integration practice core team have contributed to this blog series. All these topics comes with wealth of experience the team carries in data migration program and give their perspectives.
We have an introductory article by Balaji Jagannathan our CEO who touches up the top challenges and best practices in Data migration process.
The topics that we will publish in this blog series in the coming weeks are –
- Top Challenges and Best Practices in the Data Migration Process
- Data profiling : Getting insights on your data and how clean the migration will be?
- Reverse Mapping: Address it early to bring in completeness in data migration
- Financial Reconciliation
- Migration heat map: Critical activities to focus for a on budget, on time, 100% accurate data migration
- Data confidence and Data verification: What will keep you comfortable as a business to sign on the dotted line after the completion of data migration?
If you need more about this topic please drop a mail