Data conversion is one of the under-estimated, non-standardized but highly critical component of any implementation projects. It is usually a critical path workstream in most implementations and is the longest pole in the tent. In Banking world, most of implementation projects have a very long cycle time leading to SME time drain to support the vendor. More often than not, multiple iterations of data conversion in terms of development and mock runs is the single most time consuming workstream.

What is Data Migration and Data Conversion?

Data migration is the process of transferring data from one system or database to another, or from one format or structure to another. This process can involve extracting data from the source system, transforming it to fit the target system, and then loading it into the target system. Data migration is often necessary when organizations upgrade their systems, merge with other companies, or change their data storage or processing methods. It is a complex task that requires careful planning and execution to ensure that data is accurately and completely transferred and that the integrity of the data is maintained throughout the process.

Data conversion refers to the process of changing the format, structure, or type of a set of data from one form to another. There are variety of incoming data sources from different vendors with varying data quality for each Financial Institution. Data conversion can include converting data from one file type to another, such as from a packed EBCDIC format to a structured database format. Data conversion and Data Migration are often interchangeably used and is an important task in data management.

Bankintelli team has experience of over 5000 data migration/conversion product implementations including Bank and CU cores, Online Banking products, Cards, Risk products, Billing products and many other banking products. We have best practices, pre-built accelerators and SMEs to help you navigate through the anxiety of a data conversion project.

• Core Solutions – Customer, Account, Transaction, Messages, Configurations
• Online Banking – User, Transfer, Alert, Bill Pay, Entitlement, Wire, ACH
• Risk: AML, Fraud – Customer, Account, Transaction, Relationship, Event, Employee, Watchlist, Case, CTR, STR
• Cards – Card Holder, Institution, BIN, ATM, Terminal, Settlement, Network Configuration
• Print – Unstructured Letters, Statements, Notices