April 30, 2013: Evolvus Solutions has delivered the migration of complete data from Equation 3 core banking system to Finacle Core banking system for two of our customer banks simultaneously.
Core Banking data migration is as complex as it can get in the banking IT space. Data from multiple complex modules of the legacy Core Banking system need to be understood, extracted, transformed and uploaded to the destination system. This process is complicated and spans for even upto several weeks, as it requires careful understanding of the systems and extensive planning. Since the banking operations have to be kept continuing, the switch over from the legacy core banking to the newer system should be seamless with zero tolerance for failures or even delays. As a result of this, multiple iterations of mock drills need to be conducted before the migration exercise can be carried out in the real life confidently. These mocks are done throughout the majority of the timeline of the project cycle.
Evolvus Solutions has completed this usually a year long exercise for two of the leading banks (one in India and one in Dubai) simultaneously, delivering the migration with zero errors.With this acheivement, Evolvus Solutions has upheld the reputation of being a specialist in the data migration space.
Evolvus Solutions has so far completed 4 such core banking data migrations involving Equation3, FNS and Finacle core banking systems. All customers of Evolvus Solutions have had a smooth transition experience.