Data migration is one of the most consequential processes financial institutions undertake when transitioning to a new platform.
At Pismo, we understand the importance of ensuring that this process is not only smooth but also maintains the integrity and accuracy of your data. It’s why organisations from Tier 1 banks to greenfield fintechs trust us to migrate them with care and efficiency.
Want to know where to start with a migration? Read the first part of this series on the importance of planning.
When it comes to data migration, one size doesn’t fit all. Each client has needs based on their existing systems, data structures, and other specific requirements. At Pismo, the first step in the migration process is understanding those needs.
We work closely with our clients to determine the best strategy for data extraction and transformation. This could involve receiving data via APIs or files, depending on what suits the client best.
An important part of the migration process is ensuring that the data sent to Pismo is clean and ready for transformation. Clients should undertake a thorough data cleanup on their end before any migration can occur. This preparation is vital, as it ensures that the data is in the best possible state for migration, minimising errors and delays.
If a client has additional information—that may not be necessary for the migration but could be crucial for their own records—Pismo provides a “metadata” field. This flexibility ensures that all relevant data is captured without overwhelming the migration process.
Ensuring integrity
Even with the best preparation, there can be instances where the data a client deems clean does not align perfectly with our systems. To manage this, Pismo employs a real-time events system during migration. For every record or entity migrated, an event is sent back to the client. This transparency allows clients to validate the data as it is being migrated, ensuring that what they send matches what we receive.
This real-time validation process is a key feature of Pismo’s migration strategy. It not only ensures data integrity but also allows for immediate correction of any discrepancies, reducing the risk of cumulative errors.
Tailored to your needs
We are sometimes asked whether Pismo supports parallel migration—running old and new systems concurrently—or whether data is migrated in tranches. The strategy chosen depends entirely on the client’s needs. Some may opt to migrate millions of accounts at once, taking advantage of our asynchronous processing capabilities. Others may prefer a phased approach, migrating in smaller waves to ensure everything runs smoothly before moving to larger datasets.
Pismo’s ability to adapt to these varying strategies is a game changer. For example, we often conduct migrations based on Bank Identification Numbers (BINs). By migrating smaller BINs first, clients can conduct pilot migrations to ensure everything is working perfectly before scaling up.
Throughout the migration process, Pismo works closely with clients to validate data and functionalities continuously. This is done on a per-entity basis, ensuring that each piece of data—from accounts to cards to PCI numbers—is checked and verified as it is migrated. By respecting the dependencies between different types of data, we create a streamlined process where errors can be quickly identified and corrected.
In cases where errors do occur, Pismo’s real-time event system comes into play again. Clients are quickly notified of any issues, allowing them to address problems as they arise. This proactive approach reduces the time and resources needed for post-migration cleanups.
The migration checklist
From our experience, the success of a migration often begins with thorough preparation from both client and provider. We recommend that clients:
- Understand their products
Before migration begins, it’s essential for clients to have a comprehensive understanding of their products and how they will map to Pismo’s migration services. - Clean and prepare data
Ensuring that the data is clean and ready for migration is crucial. This includes understanding any transformations that might need to occur during the process. - Set upa validation process
Clients should be ready to validate data in real time, using dashboards or other tools to monitor the migration process closely. - Be ready to collaborate
Open communication between the client and Pismo’s migration team is key to quickly resolving any issues that arise during the migration.
Data migration is a complex process, but with the right strategies and preparation, it can be executed smoothly and efficiently. At Pismo, our focus on client collaboration, real-time validation, and tailored migration strategies ensures that our clients can transition to our platform with confidence.
Want to know more? Get in touch with us today!
Read the rest of the migration series:
- What makes a cloud migration successful? Planning
- Go-live and beyond: key criteria for a winning cloud migration
