The Barclays POINT to Bloomberg PORT ‘assimilation’ timeline does not support a ‘wait and see’ approach, said Citisoft Principal David Bates in a recent webinar sponsored by SimCorp. (“Transitioning Away From POINT – Understand Your Options”)
Several dependencies were outlined including:
Further, according to Bates, firms using full POINT functionality have the longest replacement task; the more functions used increases the likelihood that multiple solutions are required.
Net Net: Bates said the Bloomberg path (see below) does not leave room to pivot should functionality fall short.
While Citisoft has several recommendations for the path forward, IKINDI has a 5-step operational plan and process in action for any number of transition/migration scenarios:
The IKINDI approach involves its innovative, new KTier™ Data Integration Adaptors for Bloomberg PORT and other PRA (Performance Risk & Attribution) platforms. KTier™ Data Integration Adaptors provide streamlined, scalable operational automation in the cloud reducing operational risk and costs. (See recent announcement: “1st Data Integration Product ‘Adaptor’ for Bloomberg PORT.”)
1) SANDBOX PILOT to evaluate and stress test alternatives with real client data
2) VALIDATION of chosen platform(s)
3) MIGRATION of historical data
4) AUTOMATED DATA MAPPING Old<->New
5) DATA HUB for pre and post transition data
Expert IKINDI support through transition empowers the Middle Office in the process leaving asset management clients with an integrated reconciliation capability and a global enterprise reporting framework to further increased operational streamlining post migration. We’ve productized PRA data integration adaptors so you don’t have to build – freeing up skilled asset management resources to focus on revenue producing business initiatives.
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