Imagine an employee who always shows up on time, works nights and weekends, anticipates your needs, and then does the job perfectly every time. Using robotic process automation (RPA) software for your next data migration project, your bank will save time and money while also reducing the headaches associated with data integrity.

Regardless of whether you are migrating data from a single branch, or an entire bank acquisition, RPA software has proven to be a more efficient solution for data migration projects.

Here are the top 6 reasons you should rely on robotic process automation software for your financial institution’s critical data transfer needs instead of the old system-to-system conversion approach:

1) Robotic process automation software automates the manual data entry process, thereby reducing user input errors. RPA software also boosts data transfer quality over system to system data conversions because the original source data goes through all of the data input rules for the bank’s core system as if bank personnel were actually keying the customer data into the core platform.

2) RPA software also shortens the bank’s conversion timeline. Your financial institution will have a greater ability to meet its target ‘go-live’/rollout dates.

3) All bank core data conversion activities are performed in the client’s secure environment. This means no customer/account information is brought into the service provider’s environment, thereby reducing risk of data breeches.

4) Using a specialized data automation tool lowers your migration project costs. Robotic process automation software builds the necessary input files for the target system so that the bank can avoid requesting a costly de-conversion file from the source system vendor. Data is retrieved from report writer applications and/or query tools. Also, your financial institution benefits from lower travel expenses due to the reduced on-site startup time required.

5) With the robotic process automation software, your bank has the ability to reuse scripts for future conversion projects.

6) Unlike a traditional core system to system conversion, your banking systems remain accessible while the data transfer process is executed. The RPA software allows full system access during the file transfer process. With all systems remaining online, there is no down time for branches and no interruptions to existing customers accessing their account information.

With a cost-effective robotic process automation solution covering the above, your bank can overcome the challenges of avoiding manual-entry errors that disrupt core banking data migrations, save time and money, when merging account data across completely disparate bank operating platforms.