Asset Wealth Management

Platform roll-out

Asset Wealth Management – Platform roll-out
Asset Wealth Management – Platform roll-out
09/08/2018 MHC

CLIENT PROBLEM

A Tier 1 Canadian bank needed to replace their legacy asset wealth management systems in the UK with a single platform. The client requirement was for the MHC team to carry out the testing and implementation of the new platform, managing the roll-out programme from end to end and advising management on vendor selection.

MHC APPROACH

A team of MHC consultants advised the client on vendor selection. A larger MHC team comprised of highly experienced analysts, SME’s and managers then implemented the system and the data migration, split over two locations. The implementation team augmented the client teams following a staged methodology of:

Scoping

We identified the data types required such as clients, accounts and transactions. The source and target were identified for each data type, as well as any restrictions.

Planning

We made a decision on how to define how each data type was to be migrated, involving mapping fields between the source data structure and the target data structure as well as defining rules and identifying alternative sources for data required by the target system where equivalent data was not provided by the source system.

Creating

We built and configured the tools and processes that performed the migration (e.g. ETL tools, Extract, Transform and Load).

Mitigating

We assessed account interdependencies between data types which could impact the order of the migration. We created plans for contingency/back-out and reconciliation activities.

Testing

We assessed account interdependencies between data types which could impact the order of the migration. We created plans for contingency/back-out and reconciliation activities.

Implementation

We executed the migration.

Result

A highly acclaimed project that was completed on time and with great success.

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