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Post-Merger Wealth Management System Integration & Data Migration

sombrainc.com

Financial services

Data Integration & System Synchronization Challenges Post Acquisition

Following the acquisition of a North American financial organization, GlobalTrust Bank faces significant challenges in integrating wealth management systems, migrating client and employee data (over 500,000 clients and 5,000 employees), and harmonizing investment fund data from both entities. The need for a robust, scalable, and secure solution within a 3-month timeframe is critical to realizing anticipated synergies and maintaining operational continuity. Daily data changes on the acquired company's side further complicate the integration process.

About the Client

A multinational banking corporation with a significant wealth management division and a global presence, providing financial services to high-net-worth individuals and institutional clients.

Project Goals

Successfully migrate client and employee data from the acquired organization to GlobalTrust Bank's existing technology stack.
Synchronize investment fund data from both organizations.
Establish a reliable, automated data migration pipeline to handle daily data changes.
Ensure data security and compliance with regulatory requirements.
Achieve 30% of expected synergies within 6 months post-integration.

Functional Requirements

Data extraction, transformation, and loading (ETL) from legacy systems.
Data cleansing and validation.
Secure data transfer mechanisms (SFTP).
Investment fund data mapping and synchronization.
Automated data migration pipeline with scheduling capabilities.
Comprehensive data reconciliation and error handling.
Reporting and monitoring of data migration progress.

Preferred Technologies

Java

Spring Boot

Spring Cloud Task

Quartz

MSSQL Server

AWS S3

Required Integrations

Legacy client database systems of the acquired organization.
GlobalTrust Bank's existing technology stack (Java/Spring ecosystem).
Potential integration with third-party data providers for investment fund information.

Non-Functional Requirements

Scalability to accommodate future data growth.
High availability and reliability.
Data security and compliance with industry regulations (e.g., GDPR, CCPA).
Performance optimization for large data volumes.
Robust error handling and monitoring capabilities.

Expected Business Impact

Successful completion of this project is expected to deliver significant business value, including achieving 30% of the targeted synergies within 6 months post-acquisition, resulting in annualized run-rate savings of 55% of the stated target. This will enhance GlobalTrust Bank’s financial performance, improve operational efficiency, and strengthen its position in the global financial market, increasing confidence for future acquisitions.