London, UK 15th December 2022 – Validata Group, announces that it has been selected by a leading European Bank to provide ConnectIQ, its real-time, cloud-native DataOps platform for ‘progressive’ migration and financial reconciliation in their upcoming transformation project.
Following a recent merger, several data migrations between homegrown and legacy systems from TCS and Asseco are planned that will result in creation of one coherent IT platform for the merged bank. Validata ConnectIQ will be used for the data modelling, validation, data transformation with more than 80 data mappings, and loading of normalized data into Temenos Transact R22 as well as the bank’s data warehouses and other downstream systems. It will also be used for migration and financial reconciliation performing checks like field-to-field, check-sums (balances of all loans, …), GL-reconciliation etc.
The selection came after an RFP process and an in-depth, extensive Proof of Concept exercise, where Validata outperformed the competition, and was selected for its ‘build for change’ technology, superior functionality and performance during data extraction, as well as a number of factors such as agility, scalability, deep domain knowledge and expertise.
ConnectIQ is an intelligent, no-code DataOps platform to create and manage your enterprise data pipelines end-to-end, with advanced data integration, data governance, and data democratization capabilities. It can perform full Extraction, Transformation, Loading, Validation and Reconciliation of financial and static data, ideal for both cloud and on-premise environments. It is unique in its ability to merge and match data between different sources and ensure a smooth and efficient approach when migrating and reconciling the data into the new system.
Vaios Vaitsis, Founder and CEO of Validata Group added, “We are pleased to have been selected for this project and we appreciate the trust the bank has placed in us. We are committed to assist the bank in their strategic transformation initiatives, with our technology and expertise, delivering real value and creating an impact on quality, performance and productivity.”