Core Banking & Ledger · Use case
Migrate off a legacy core
Short answer
Most modern migrations do not switch everything at once. A new core runs alongside the old one; new products launch on it, then existing portfolios move in waves. The provider's migration method and references matter as much as the platform itself.
What this use case is
Most modern migrations do not switch everything at once. A new core runs alongside the old one; new products launch on it, then existing portfolios move in waves. The provider's migration method and references matter as much as the platform itself.
Who builds this
What your customer sees
- 1Ideally nothing, apart from new features arriving faster
How Core Banking & Ledger solves it
Target architecture and sequence agreed
Target architecture and sequence agreed
New core deployed alongside legacy
New core deployed alongside legacy
New products launched on the new core
New products launched on the new core
Data mapped, cleansed and test-migrated
Data mapped, cleansed and test-migrated
Portfolios migrated in waves with reconciliation
Portfolios migrated in waves with reconciliation
Legacy decommissioned step by step
Legacy decommissioned step by step
Want to have
- Migration methodology
- Data mapping and reconciliation tools
- Coexistence with legacy
- Rollback plans
- References at similar scope
Optional
- Accelerators for your legacy system
- Parallel-run tooling
Design decisions
Approach
speed versus risk.
Partner
accountability versus independence.
What to put in your RFP
Method
- phases
- coexistence
Data
- mapping
- reconciliation
Risk
- rollback
- parallel running
References
- References
Commercials
- platform and services
How to evaluate providers for this use case
- 1Comparable references
- 2Coexistence approach
- 3Data tooling
- 4Realistic plan
Pitfalls
- Underestimating data quality problems
- A single cut-over with no rollback
- Integrator and vendor pointing at each other
What providers will ask you
- Current systems and products
- Data volumes
- Governance and budget
- Regulatory notifications required
Other Finlane categories that cover parts of this
This use case is solved mainly with Core Banking & Ledger. These categories cover specific parts of it and can be tendered alongside it.
Frequently asked questions
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