KPMG Powered Data Migration

At a glance

KPMG is a global organisation of independent professional services firms providing audit, tax, and advisory services. The fim operates in 146 countries and territories and in FY20 had close to 227,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

Solution category

Migration accelerator

Geography

Global

Built by

KPMG

The challenge

Established banks are facing challenging market dynamics, including intensifying competition, evolving customer expectations, decreasing profitability, and ageing legacy technology infrastructure.

In the face of these challenges, banks are contemplating tech modernization and digital transformation initiatives; however, a key component, the core platform, is perceived as being too difficult and complex to migrate because banks often lack the internal expertise and tools needed to successfully migrate from a legacy to modern core platform.

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The solution

The Powered Data Migration service brings together KPMG's deep expertise in data migration with Thought Machine’s Vault Core to enable banks to confidently accelerate and de-risk their end-to-end core migration journey. The solution includes powerful and proven IP features to enable data quality and readiness, transformation, and reconciliation, all supported by business-centric dashboards.

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Benefits

Reduce project risk and complexity

Pre-built workflows and transformation rules provide a tried and tested approach for migrating to Vault Core
Time series testing enables banks to stress test data upfront, mitigating issues from critical day, month, or quarter end activities
Vault Core’s data loader automatically orchestrates data load sequences, allowing the user to queue all migrated data at once

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Accelerate migrations and improve data quality

Automated legacy data collection and consolidation accelerates and de-risks the migration
Built-in automated testing significantly reduces migration time, risk, and improves overall data quality
Automated data loads using Thought Machine’s Migration API remove manual steps and pauses from the process to accelerate the migration event

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Build business confidence in migrations

Business-centric dashboards allow stakeholders to measure and track KPIs easily
Auditable views of the migration progress provide stakeholders the visibility needed to monitor and build trust in the process

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How the solution works

The Powered Data Migration service contains all the automation needed to deliver an end-to-end migration of account data from legacy cores to Vault Core.

The fundamental building blocks of the service are embedded in the Powered Data Migration method. This includes KPMG's tried and tested data quality checking as well as transformation and reconciliation logic.

Business centric dashboards applied on top of this framework provide not only clear reporting for stakeholders, but also enhanced drill down capabilities to easily identify and rectify any identified data quality issues.

All of these features are taken a step further and pre-configured for Vault Core. This includes not only the underlying data logic, but also Thought Machine’s full suite of migration tools such as the time series testing to validate product behaviour before migration and Vault’s migration APIs to support the automated staging and loading of data.

To demonstrate how efficiently an end-to-end migration can be achieved, a team of KPMG engineers built a complex loan product in 3 days on Vault Core, and then used the Powered Data Migration service to complete the migration of legacy loan accounts to Vault Core in 10 weeks

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