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:-
Project Quality – Monthly Health Check:
Data Migration Activity:
User Acceptance Testing:
End-User Training and CBS Rollout:
Riskpro can assist you with any of the above components. For more details, please email email@example.com so that the risk is identified and mitigated ensuring successful migration/ up-gradation of the CBS System.