Overview
Sirma stands as a leader in delivering innovative technology solutions that empower financial institutions to modernize their legacy infrastructure efficiently. Core banking system migration, a complex and critical process for banks, involves transferring vast volumes of sensitive data while minimizing downtime and operational disruptions. Leveraging AI-powered agents, Sirma automates the mapping and migration of data between legacy banking platforms, such as upgrades from Oracle FLEXCUBE 12 to FLEXCUBE 14. This advanced AI-driven approach accelerates migration timelines dramatically, saving months of manual effort and enabling clients to realize faster digital transformation.
The Challenge
Core banking system migrations face challenges, including the complexity of legacy data architectures, risk of data loss or corruption, extensive manual labour, and prolonged downtimes impacting customer service. Traditional migration processes rely heavily on manual mapping of data fields and rules across disparate systems, which is time-consuming, error-prone, and costly. Additionally, banks require strict compliance with regulatory requirements and robust data security during transitions. The challenge for Sirma was to deliver a fast, reliable, and secure migration approach to help banks upgrade their systems seamlessly while preserving daily operations and customer experience.
The Project Scope
The project scope encompassed:
- Automating end-to-end mapping and migration of data from legacy core banking systems (FLEXCUBE - old versions) to newer versions or other platforms;
- Utilizing AI agents trained to understand system architectures, data models, and business logic to perform complex data transformations and validations autonomously;
- Ensuring compliance, data integrity, and security throughout the migration lifecycle;
- Minimizing system downtime and operational impact by enabling accelerated migration schedules;
- Providing full audit trails, rollback capabilities, and post-migration validation tools;
- Supporting integration with ancillary banking systems such as payment portals, loan management, and digital banking modules.
The Solution
Sirma developed AI-driven migration agents that automate the detailed and intricate task of mapping legacy data structures to target system formats. These agents employ machine learning algorithms and rule-based engines to:
- Analyse legacy data schemas and catalogue data elements automatically;
- Identify data transformation rules and dependencies without manual intervention;
- Execute bulk data migration with continuous validation to prevent errors and ensure consistency;
- Adapt migration workflows dynamically based on real-time feedback and exception handling;
- Generate comprehensive reports and logs to ensure regulatory compliance and facilitate audits. The solution was designed for scalability and flexibility, enabling remote execution, which proved critical during the COVID-19 pandemic (demonstrated in the Bank of the Bahamas Remote upgrade).
Results
The AI-powered migration solution yielded significant business benefits:
- Migration timelines reduced from several months to weeks, accelerating digital transformation programs;
- Drastically lowered manual effort and human errors in data mapping and migration;
- Enhanced data quality and integrity with continuous automated validation;
- Minimized downtime and service disruption, preserving customer experience;
- Enabled remote migration capabilities, supporting flexibility amid travel restrictions and other constraints;
- Delivered full compliance and reporting adherence, providing confidence to stakeholders and regulators.
Technologies
Key technologies and tools applied included:
- Machine learning algorithms for intelligent data mapping and pattern recognition;
- Rule-based engines combined with AI for complex data transformation logic;
- Automated validation and exception handling workflows;
- Secure cloud and hybrid infrastructure for scalable and remote operations;
- Integration APIs supporting interaction with core banking and peripheral systems;
- Audit and compliance frameworks embedded for end-to-end traceability.
Sirma’s Relationship with Client
Sirma forges strong, collaborative partnerships with financial institutions to comprehend their unique legacy challenges and modernization goals. We work closely with both client IT and business teams throughout the entire migration process, from initial consulting and planning to execution and post-migration support. Our customer-centric approach emphasizes knowledge transfer, transparency, and continuous improvement to ensure smooth transitions and sustainable outcomes. Sirma has seamlessly migrated the core banking system remotely, a signature project that provides our teams with a solid foundation to replicate this model for future projects in various geographic and operational contexts.
Sirma’s AI-driven expertise in legacy banking system migration highlights how advanced technologies meet critical operational and regulatory needs.
