Simplify data migration when onboarding clients to proprietary wealth management platform.
Deploy Lumada Data Integration to automatically migrate data with a single, re-usable script.
Simplifies migration of client data and decreases risk of data loss or errors.
Reduces development time by up to 80%, freeing up the team for platform improvements.
Enhances the client experience and boosts competitive advantage.
Simplifying the Migration to Digital Wealth Management
When building a platform to support business processes, its features and functionality are likely to be the most important factor. But as any digital solution is only as good as the data it holds, ensuring the seamless migration of existing data is also a key consideration.
CGI is a global business and technology consulting company with 77,000 consultants and other professionals across the globe. The company delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. The Global Wealth & Capital Markets team sells proprietary software to large financial services clients.
CGI’s Wealth360 solutions are designed to simplify and automate portfolio management, fund accounting and fund allocation. “Our platform helps wealth managers increase efficiency and make better decisions,” explains Joe Marchese, Director of Consulting Services, Global Wealth & Capital Markets at CGI in Canada. “Migrating client data to the platform is one of the first and most important steps in the onboarding process, so it’s key to our ongoing relationships and must go smoothly.”
CGI’s Data Migration and Conversion team used to have to develop new code for every data source. As the client’s data could include up to 200-plus data files in various formats, it was often a time-consuming and complex process.
The team had a vision to create an automated ETL (extract, transform, load) data migration process that was based on a single, flexible and re-usable script. “We wanted a single component so we could load all the client source data in a simple, automated process,” confirms Karthic Kumar, Lead Data Migration ETL/Integration at CGI.
Scalable, Flexible and Reusable Data Migration Tools
CGI has been using Lumada Data Integration, delivered by Pentaho, to support its Wealth360 solution since 2016. The company had used the Pentaho Community Edition prior to this, then as data volumes increased, it migrated to the Enterprise Edition.
Using Lumada Data Integration, CGI can migrate client data to its digital wealth platforms seamlessly. In 2020, CGI enhanced its ETL capabilities with the solution’s MetaData Injection (MDI). “We worked with the Hitachi Vantara Professional Services team to roll out MDI. Now, we have a re-usable script in our framework that can process multiple source files at the same time,” explains Anil Prakash, ETL Technical Manager at CGI. “The end-to-end automated process is highly scalable and can cope with XML, CSV, or Oracle tables up to 100 GB.”
The Data Conversion and Migration team use the Lumada MDI feature around once a week. This can be to onboard new clients or to update existing clients to the latest version of its wealth management platform. The solution provides reports so the team can reconcile source and target systems at a glance. “With Lumada data Integration, we can identify anomalies sooner, which helps prevent deployment delays,” explains Kumar.
Next, CGI is looking to improve its data migration capabilities with additional Lumada Data Integration features. This will include using its reporting capabilities to create real-time dashboards that deliver continuous status updates.
Boosting the Client Experience with More Efficient Onboarding
Using Lumada Data Integration, CGI has maximized efficiency, reducing development time by up to 80%. “We no longer have to develop and run code for every source file,” explains Prakash. “With the re-usable script within our data migration framework, we’ve also reduced run time by up to 30%. This has freed up development teams to spend more time enhancing the platform.”
The solution also ensures CGI experiences zero data loss during migrations, and has decreased complexity while increasing agility as the team can react more quickly to change. “The ability to process data faster and more accurately means we can start every client engagement on the right foot,” confirms Marchese. “More cost-effective data migration and a better client experience adds up to greater competitive advantage.”
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