POINT to PORT Migration: A POC Success Story

January 22, 2017 – IKINDI is pleased to announce it has successfully completed a proof-of-concept (POC) for a client  ($200 billion in fixed income assets and a large presence on POINT), demonstrating the product automation capabilities for Barclays POINT historical migration. Data was drawn from eleven client portfolios with over 3,000 securities spread across a wide range of asset classes.

The scope of the POC was for automated migration from Barclays POINT to Bloomberg PORT including holdings, performance and analytical data. Client time commitment was minimal as IKINDI’s client support team executed all aspects of data extracts, transformations, imports and reconciliations between the two systems.

In the exercise the IKINDI KTier™ product demonstrated its power and flexibility by:

• Quickly extracting data from the Barclays POINT (source system) and transforming and sending the transformed data to the Bloomberg PORT (target system).
• Identifying target system kick-outs.
• Remediating system-to-system security identifier differences in order to permit full reconciliation reporting.
• Identifying mismatches between source and target system data including:
  • Quantity differences
  • Market Value differences
  • Accrued Interest differences
  • Market Price differences
  • Analytical/other differences (OAD, OAC, OAS, etc.)

The POC demonstrated the powerful integrated reconciliation capabilities that allows setting of user tolerances to filter out acceptable and unacceptable differences and a robust reporting tool that permits creation and archiving of reconciliation reports that meets the needs of diverse user requirements.

We are excited to have concluded this successful POC at a time when the pressure to begin with historical data migration off Barclays POINT is becoming acute. The ability to bring KTier™’s full suite of tools to bear in getting historical data off Barclays’ POINT decompresses the timeline for historical migration and allows companies to quickly get to work on this vital piece of the transition to another platform. Having demonstrated the ease and efficiency of the KTier™ platform in this recent POC, the industry now has a powerful out-of-the-box tool it can use to help protect and secure Barclays POINT history and stay on track for a clean transition to a new system.

Clients using IKINDI’s industry leading KTier™ product can:

• Hit the ground running with a first to market out-of-the-box product.
• Leverage IKINDI’s familiarity with the Point and Port analytical systems.
• Avail themselves of KTier™’s well developed user interface and suite of reconciliation and validation tools.
• Lower conversion project time duration.
• Lower operational risk.
• Reduce costs.

The successful completion is a significant and timely accomplishment given the fast approaching retirement of the Barclays Point system and, as KTier™ is system agnostic, it can be effectively deployed when alternative systems/sources are in the mix. Given the speed and flexibility of the KTier™ platform, clients can also use it as a tool to evaluate multiple systems as part of their system selection/system evaluation initiatives.

For more information: Register for a Briefing and Demo.