When we started this journey with our client, data reconciliation was a completely manual effort that resulted in sub-optimal performance. Today, our client reconciles over 13 million records with 100% accuracy, completeness, and zero manual intervention, in less than an hour. Let’s look at this transformation journey in detail.
Ensuring regular market operations, preserving completeness and accuracy of transactional data while managing business continuity during a high systemic risk event.
In the case of a high-systemic risk event, many times, there’s a need to activate out-of-region recovery. Several post-trade applications go through a transition phase switching from one data center to another. This switchover has the potential to cause data loss that can go into millions of records. During this transition, the depository must ensure two requirements with 100% precision:
- Completeness of data: no loss of data between the target and source, post-transition
- Accuracy of data: no mismatch of data between the target and source, post-transition
Any delta between the before/after phase of data processing is not permissible. Moreover, there were severe compliance issues if there’s any loss of data.