1. Data Migration User Guide
  2. Data Migration Process

2 Data Migration Process

Oracle Banking Cloud Services data migration is a 4-step process with the following stages:

Figure 2-1 Data Migration - Process


Description of Figure 2-1 follows
Description of "Figure 2-1 Data Migration - Process"

Party Data Migration is the process of migrating customer information from an external systems to the Oracle Banking Party Management. The details on the mandatory/optional data segments are as below:

Table 2-1 Data Segment Category

Data Segment Mandatory/Optional
Party Information Mandatory
Party Relationship Information Optional
Party Information

Party information encompasses a comprehensive set of data and details pertaining to individuals as well as small and medium-sized businesses. Financial institutions actively collect and store this information as part of their efforts to effectively manage relationships with customers, deliver enhanced services, and make well-informed business decisions. This compilation of data plays a pivotal role in understanding and interacting with clients in a more personalized and efficient manner.

The following data segments are supported for migration through the party information:

Table 2-2 Party Information - Supported Migration

Data Segment Mandatory/Optional/Conditional Retail Party SMB Party
Basic Info and Citizenship Mandatory Yes Yes
Business Details Mandatory No Yes
Current Address Conditional Yes Yes
Previous Address Conditional Yes Yes
ID Details Mandatory Yes No
Contact Details Optional Yes No
Tax Declaration Mandatory Yes No
Visa Details Optional Yes No
Dates Optional Yes No
Educational Qualification Optional Yes No
Salaried Optional Yes No
Self Employed Optional Yes No
E-Sign Optional Yes No
Marketing Communication Optional Yes No
Privacy Information Optional Yes No
Minor Consent Optional Yes No
Insider Optional Yes No
Special Needs Optional Yes No
Politically Exposed Person (PEP) Optional Yes No
Armed Forces Optional Yes No
FIDM Optional Yes No
Membership and Association Optional Yes No
Total Income & Net-worth Optional Yes Yes
Assets & Liabilities Optional Yes Yes
Income & Expense Optional Yes Yes
Other Relationship Optional Yes Yes
Beneficially Owned Company Optional Yes Yes
Profit and Financial Ratios Optional No Yes
Party Memo Optional Yes No
Party Relationship Information

Party Relationship Information refers to the details and connections that exist between two distinct individuals or entities, often denoting specific types of relationships such as household relationships or guardian relationships. This type of information is crucial for understanding and managing the associations and dependencies between different parties. Examples of party relationships include connections within a household, where individuals may share familial ties, or guardian relationships, where one party assumes responsibility for the well-being of another.

This information provides a comprehensive view of how various parties are interlinked, facilitating a more nuanced understanding of social or organizational structures. For instance, household relationship.

Effectively managing party relationship information enables financial institutions to enhance decision-making processes, tailor services to specific needs, and foster more personalized and efficient interactions within the context of these relationships. The following data segments are supported for migration through the party relationship information.

Table 2-3 Party Relationship Information - Supported Migration

Data Segment Mandatory/Optional/Conditional Party Type
Household Relationship Optional Retail
Power or Attorney Relationship Optional Retail
Service Member Relationship Optional Retail
Related to Insider Relationship Optional Retail
Guardian Conditional Retail
Custodian Conditional Retail
Solicitor Optional Retail
Authorized Signatory Optional SMB
Owner Optional SMB
Supplier Optional SMB
Guarantor Optional SMB
  • File Upload
    The file upload process facilitates users in submitting flat files containing pre-filled data to initiate the migration process. Flat files are specific to domain and migration event, such as Party (OBPY) and Party Information, or Party Relationship Information. This streamlined approach ensures a seamless and accurate transfer of information during the data migration.
  • Initiate Migration
    Initiate Migration allows the data migration process by moving data from object store to staging tables.
  • Monitor Migration
    Upon successful data migration initiation, the migration process can be monitored and managed using Monitor Migration user interface. The monitor migration feature serves as a centralized place, offering a single point of access to track and manage all in-progress and completed data migrations.
  • Migration Cleanup
    Migration Cleanup provides an ability to cleanup history of migrated data from the database tables. The data migration cleanup feature can permanently delete the previously migrated data from staging, domain, and history tables.