Legacy Data Migration for SAP Banking
Supporting the business needs of financial institutions isn't an easy task.
Withstanding the impact of whipsaw volatility, ever-changing competitive forces, waves of technical advancements, regulation and merger activity requires a technology leader with a strong stomach and a steady hand at the wheel.
But even seasoned IT executives pale at the mention of one key aspect -- the data migration and integration challenge. Their concern is understandable, drawn no doubt from past experiences. Migrating legacy data into a new platform can be fraught with risk. Delays are almost inevitable, and there is a resigned acceptance of long-term, large-scale change freezes and budget overruns that can have an impact on the effectiveness of the organization. In fact, many projects are postponed before they even get off the ground.
However, legacy systems have reached the point at which something simply has to be done. Outdated code costs a fortune to maintain and prevents banks from benefiting from important advances. Data can't be used to detect risks. Regulatory compliance is more difficult and more expensive. And clinging to legacy systems closes off avenues to reach customers through new channels with an integrated, compelling experience. But the business benefits of large-scale IT projects are often tempered by the realization that those projects routinely require data migration. A survey of UK-based financial services firms by Bloor Research found that 72 percent of organizations delayed moving applications because of risks in the data-migration process.
The good news is, if you haven't looked at data migration lately, things have changed. For the better.
New Tools and Technologies Reduce Data Migration Risks
It turns out that the vast majority of data-handling activity goes smoothly and according to plan in any legacy system migration. It's that last 10 to 20 percent that creates chaos. Delays and overruns caused by problematic data usually result from:
- A "one size fits all" approach to migration that has to be used because the only available resources have limited skills, or because the project relies on a single software vendor that is partnered with the managing systems integrator; and,
- No access to an advanced data handling methodology that can recognize and handle variation in complexity and associated risk.
The approach now favored by many CIOs allows them to identify and tackle the lower-risk areas of migration quickly, reserving scarce resources and expertise to focus on the less predictable and riskier data. This gives specialists the time needed to employ a combination of approaches that tames troublesome data, preserves time frames and keeps costs in check. At the same time, the deployment of integrated management and control tools enables change impact to be understood, bounded and permitted. The risk of ongoing operations is also therefore significantly reduced.
As the banking sector continues to recover from the last few years, institutions will face new pressures to address long-standing issues. A recent survey revealed that banks are getting the message and beginning to act. Sixty percent of banks surveyed around the globe have a transformation project under way, or are about to start one.
In some regions less affected by the global financial crisis, such as Australia and Canada, market leaders are updating core banking systems to achieve tantalizing new benefits: the ability to segment customers more effectively and to drive down product-development cycles. In other regions where mergers and acquisitions have reset the competitive landscape, many banks have taken advantage of the post-merger process to undertake sweeping new changes.
How to Get There
With momentum clearly building, that means it's only a matter of time before the next migration project lands on your desk. How will you ensure that the plan you offer clearly addresses your institution's need to compete with new entrants or meet escalating customer expectations for information and engagement across many different channels? And how will you assure your leadership that your project will be completed on time and on budget?
Today, successful data migration depends on fresh thinking and the introduction of specific approaches to migration tasks, especially those that are most challenging.
It begins with a thorough, honest assessment of your institution's true requirements and constraints. To get that, you should work with a vendor that knows migration, methodologies and the banking industry -- inside and out. It continues with the deployment of a fully integrated control toolset, where appropriate, the highly structured "factory"-based methodologies that enable one-to-one moves, simple lookups and joins to be executed quickly and safely, while also ensuring that change can be assessed and accommodated without adverse impact on operations, budgets and timelines.
CSC Knows Migration -- and Banking
CSC Data Migration and Integration for SAP Banking is designed for this new, practical approach to data migration. Our service combines a proven methodology, toolset and data repository that improves control and risk management in a data migration project, regardless of the scale or duration. We apply our proprietary, innovative metadata-driven approach to addresses common patterns and use a proven methodology to migrate structured historical data from a variety of legacy banking systems.
Our approach incorporates accelerators specifically built through our close partnership with SAP and our in-depth knowledge of CSC Hogan, Celeriti and other legacy banking platforms. These assets help to ensure platform integrity for SAP Banking Suite transaction processing, Bank Analyzer, HANA analytics and reporting -- all while reducing migration duration and project costs up to 30 percent.
CSC Data Migration and Integration for SAP Banking provides the means for fully managed, low-risk, cost-effective, on-time and on-budget data transformations to the SAP Banking platform.
Whatever needs to be done -- implementing a new system or managing an upgrade, consolidation or disaggregation -- CSC can help you tackle the most complex to-do item that remains on your list.
Contact us today, and consider it done.