Core Banking Solution Upgradation or Migration

A bank upgrading its Core Banking Solution (CBS) technology to a new version aims to provide significant enhancement in services to its esteemed customers. Data migration in core banking is all about the seamless movement of entries, balances, P&L/balance sheet data, customer information, contracts, products, KYC details, and other forms of financial/nonfinancial data from the source to the target system.

Why CBS project health check-up services are required in Upgradation or Data Migration etc?

The following are the reasons why CBS project health check-up services are required:-

1. To put a check on whether Project deliverables are in conformity to the Bank's needs leading practices and adhere to the time schedule and quality standards.
2. To test whether the integrity of the Bank’s information assets and completeness of the banking functions is maintained, including branch data into the new CBS system.
3. To check whether the Upgraded/ New solution meets business requirements and operates appropriately.
4. To test Input, processing, and output controls that would result in greater comfort and provide reasonable assurance to management.
5. To execute each critical activity as planned and scheduled to ensure that branches get migrated seamlessly so that business and Bank’s reputation are intact and customer service is kept on top priority.

How Riskpro Can Help You

Riskpro can help in CBS Project health Check-up services as follows:-

Requirement understanding:

  • Riskpro understands that the Bank has an in-house Project Management Office (PMO)
  • As part of the implementation life cycle of the project, the Bank wants an independent assessment of the roles and effectiveness of the PMO.

  • Project Quality – Monthly Health Check:

  • We conduct a monthly health check during the program implementation life for X months depending on the requirement.
  • Review the approach, role, and involvement of PMO during the implementation phase i.e. Pre, Intermediate, and Post-implementation.

  • Data Migration Activity:

  • We review the Pre, Intermediate, and Post validation activity of Data migration
  • Data migration process and strategy document
  • Gap analysis, tracking, and resolution process.

  • User Acceptance Testing:

  • We review the Pre, Intermediate, and Post-activity of UAT
  • UAT strategy and approach document
  • Process adopted for parameter change management
  • Template and forms for test cases documentation, monitoring, and tracking.

  • End-User Training and CBS Rollout:

  • Review of the approach adopted for end-user Training
  • Roll out plan document
  • Communications
  • Infrastructure readiness
  • Resource planning
  • Risk Identification
  • Backup and mitigation plan

    Riskpro can assist you with any of the above components. For more details, please email so that the risk is identified and mitigated ensuring successful migration/ up-gradation of the CBS System.