Method for migrating financial and indicative plan data between computerized record keeping systems without a blackout period

• US 7,584,131 B1
• Filed: 07/31/2002
• Issued: 09/01/2009
• Est. Priority Date: 07/31/2002
• Status: Expired due to Fees

• Current Assignee: Ameriprise Financial, Inc.
• Original Assignee: Ameriprise Financial, Inc.
• Inventors: Higgins, Pamela Jean, Simonson, Brian Theodore, Dubbs, Timothy J., Newman, Edward, Omtvedt, Karen Ingrid, Kurtz, Thomas Harold, Borgstrom, John William, Berrett, Claire Mary
• Primary Examiner(s): Kyle; Charles R
• Assistant Examiner(s): WEIS, SAMUEL
• Application Number:
  US10/209,558
• Time in Patent Office: 2,589 Days
• Field of Search: 705/36.R, 707/200, 707202-204
• US Class Current: 705/36.00R
• CPC Class Codes: G06Q 10/06 Resources, workflows, human or project management; Enterprise or organisation planning; Enterprise or organisation modelling
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: H04L 69/40 for recovering from a failure of a protocol instance or entity, e.g. service redundancy protocols, protocol state redundancy or protocol service redirection management of faults, events, alarms or notifications in data switching networks H04L41/06
• CPC Class Codes: Y10S 707/99953 Recoverability
• CPC Class Codes: Y10S 707/99955 Archiving or backup

Abstract

There is provided a no-blackout migration process for migrating plans between record keeping systems with continuous and uninterrupted client and participant access to the plans being migrated comprising the steps of: moving a plan to a staging data storage, extracting plan data, converting a financial data subset, converting all extracted plan data to converted plan data having a second format, transmitting the converted plan data to a second system data storage and loading to a second system data storage wherein the majority of the converted plan data loaded into the second system data storage is loaded through execution of a bulk copy program, executing post-import comparisons and auto-reconciliation jobs and executing a correction process if the second plan does not correspond to the selected plan in the first system, activating the second plan and deactivating the original plan, and migrating and loading pending transactions into the second data storage.

Claims

1. A method of migrating a financial plan from a first computerized system to a second computerized system comprising the steps of:

extracting predetermined financial plan data from a selected financial plan in the first computerized system to create extracted financial plan data, wherein said extracted financial plan data is associated with a plurality of plan participants;

converting said extracted financial plan data into converted financial plan data having a second format compatible with the second computerized system;

transmitting and loading said converted financial plan data into a data storage of the second computerized system thereby creating a second financial plan;

verifying that said selected financial plan corresponds to said second financial plan;

activating said second financial plan in the second computerized system and deactivating said selected financial plan in the first computerized system; and

migrating and loading to said data storage in the second computerized system pending transactions that would have affected said predetermined financial plan data in the first computerized system and that were initiated prior to activation of said second financial plan;

providing continuous and uninterrupted access to a user to at least one of said predetermined financial plan data and said converted financial plan data; and

providing continuous and uninterrupted access to financial plan functions associated with said selected financial plan, wherein said financial plan functions comprise initiating financial transactions, canceling financial transactions, modifying financial transactions, initiating financial fund transfers, canceling financial fund transfers, modifying financial fund transfers, purchasing financial securities, selling financial securities, producing financial plan reports, and executing financial analysis.

2. The method of claim 1, wherein said transmitting and loading said converted financial plan data into a data storage of the second computerized system is carried out by transmitting said converted financial plan data to a temporary data storage in the second computerized system and then loading said converted financial plan data from said temporary data storage into a data storage of the second computerized system.

3. The method of claim 2, wherein said loading said converted financial plan data from said temporary data storage into said data storage of the second computerized system is accomplished by executing a bulk copy program that loads all or a majority of said converted financial plan data into said data storage.

4. The method of claim 1, further comprising moving said selected financial plan to a data storage in said first computerized system and designating said selected financial plan a read-only plan.

6. The method of claim 1, further comprising converting a financial data subset of said predetermined financial plan data from a first financial representation to a second financial representation prior to converting said extracted predetermined financial plan data into said converted financial plan data with said second format.

7. The method of claim 1, further comprising moving said selected financial plan from a data storage in said first computerized system to a staging data storage in said first computerized system prior to extracting said predetermined financial plan data from said selected financial plan.

5. A method of migrating a financial plan from a first computerized system to a second computerized system comprising:

extracting predetermined financial plan data from a selected financial plan in the first computerized system to create extracted financial plan data, wherein said selected financial plan is associated with a plurality of plan participants;

converting said extracted financial plan data into converted financial plan data having a second format compatible with the second computerized system;

transmitting said converted financial plan data to a temporary data storage in the second computerized system;

loading said converted financial plan data from said temporary data storage into a data storage of the second computerized system thereby creating a second financial plan;

verifying that said selected financial plan corresponds to said second financial plan;

activating said second financial plan in the second computerized system and deactivating said selected financial plan in the first computerized system; and

migrating and loading to said data storage in the second computerized system pending transactions that would have affected said predetermined financial plan data in the first computerized system and that were initiated prior to activation of said second financial plan;

providing continuous and uninterrupted access to a user to at least one of said predetermined financial plan data and said converted financial plan data; and

providing continuous and uninterrupted access to financial plan functions associated with said selected financial plan, wherein said financial plan functions comprise initiating financial transactions, canceling financial transactions, modifying financial transactions, initiating financial fund transfers, canceling financial fund transfers, modifying financial fund transfers, purchasing financial securities, selling financial securities, producing financial plan reports, and executing financial analysis.

8. The method of claim 5, further comprising verifying that said converted financial plan data loaded into said data storage of the second computerized system corresponds to said extracted financial plan data;

and

correcting said converted financial plan data in response to said converted financial plan data in the second computerized system not correctly corresponding to said extracted predetermined financial plan data in the first computerized system.

9. The method of claim 5, wherein said loading said converted financial plan data from said temporary data storage into said data storage of the second computerized system is accomplished by executing a bulk copy program that loads all or a majority of said converted financial plan data into said data storage.

10. The method of claim 5, further comprising moving said selected financial plan to a data storage in said first computerized system and designating said selected financial plan a read-only plan.

11. The method of claim 5, further comprising the verifying that said converted financial plan data loaded into said data storage of the second computerized system corresponds to said extracted financial plan data;

and

correcting said converted financial plan data in response to said converted financial plan data in the second computerized system not correctly corresponding to said extracted predetermined financial plan data in the first computerized system.

12. The method of claim 5, further comprising the step of converting a financial data subset of said predetermined financial plan data from a first financial representation to a second financial representation prior to converting said extracted predetermined financial plan data into said converted financial plan data with said second format.

13. The method of claim 5, further comprising the step of moving said selected financial plan from a data storage in said first computerized system to a staging data storage in said first computerized system prior to extracting said predetermined financial plan data from said selected financial plan.

14. The method of claim 5, wherein providing continuous and uninterrupted client and participant access further comprises providing access to said pending transactions.

15. The method of claim 14, wherein said extracted financial plan data comprises extracted predetermined financial plan data.

16. The method of claim 15, further comprising converting a financial data subset of said extracted predetermined financial plan data from a first financial representation to a second financial representation.

17. The method of claim 16, further comprising converting said extracted predetermined financial plan data, including said financial data subset with said second financial representation, into said converted financial plan data having said second format compatible with the second computerized system.

18. The method of claim 14, wherein said first computerized system is a first computerized record keeping system and said second computerized system is a second computerized record keeping system.

19. The method of claim 18, further comprising moving a said selected financial plan from a first data storage to a staging data storage in said first computerized record keeping system.

20. The method of claim 19, further comprising extracting said predetermined financial plan data from said selected financial plan in said staging data storage of said first computerized record keeping system.

21. The method of claim 20, further comprising converting a financial data subset of said extracted predetermined financial plan data from a first financial representation to a second financial representation.

22. The method of claim 21, further comprising converting said extracted predetermined financial plan data, including said financial data subset with said second financial representation, into said converted financial plan data having a second format compatible with the second computerized record keeping system.

23. The method of claim 22, further comprising executing post-import comparisons and auto-reconciliation logic to verify that said converted financial plan data loaded into the data storage of the second computerized record keeping system corresponds to said predetermined financial plan data in the selected financial plan in the first computerized record keeping system, and correcting converted financial plan data in response to said converted financial plan data in the second computerized record keeping system not correctly corresponding to the extracted predetermined financial plan data in the first computerized record keeping system, whereby the migration of the selected financial plan from the first computerized record keeping system to the second computerized record keeping system is accomplished without a blackout period.