Optimising Migration from Legacy Treasury System to Calypso for a Leading UAE Bank – Quality Assurance Provider
Industry & Segment
Capital Markets
Objective
One of the leading banks in the UAE wanted to ensure a seamless treasury transformation. The project involved replacing the bank’s legacy integrated treasury and risk management application system with application Calypso V 17 by Nasdaq system integration testing (SIT), performance testing (PT), user acceptance testing (UAT), and regression testing. We were able to deliver a defect-free experience post-go-live, unlocking the full potential of the new treasury management system.
Client Overview
The client is one of the largest private banks in the UAE, recognized for its innovative retail and commercial banking services. With a focus on digital transformation, the bank embarked on a treasury modernization journey to improve operational efficiency, reduce costs, and enable real-time risk monitoring. The transformation was aimed to support seven highly traded products (Fixed Income, Repo, Money Markets, FX, FX Options, Interest Rate Swaps and Collateral Management) with higher degree of straight through processing and near real-time risk management.
Business Challenges
Legacy application limitations
The outdated system blocked business growth, restricted client offerings, high-volume processing, and near real-time risk assessment.
Complex requirement mapping
The bank received documentation from diverse user communities and needed to map them to business processes with the target treasury application.
External dependency
The bank relied heavily on 3rd party service partners, requiring seamless coordination to execute end-to-end processes in a timely manner.
Solution Overview
QKTech implemented a comprehensive transformation assurance program to support the bank’s migration from the legacy treasury platform to Calypso v17, ensuring a seamless transition across functional, integration, and performance layers.
The approach combined deep domain expertise, strong stakeholder collaboration, and a structured testing framework to unlock the full potential of the new treasury management system.
Stakeholder Alignment
QKTech conducted detailed walkthrough sessions with business teams to align application functionalities with test cases, ensuring clarity and shared understanding across all parties.
Comprehensive Test Case Development
The team developed 5,000+ test cases for each testing cycle, achieving 100% coverage for BAU scenarios and ensuring thorough validation across all treasury products.
Automation-first Approach
An automation-first strategy was adopted early in the project. Automation scripts for critical functionalities enabled smooth execution during multiple UAT rounds and regression cycles.
Integration Testing Across Systems
Close coordination with upstream and downstream application owners and third-party providers like Clearstream and Euroclear enabled robust end-to-end integration validation.
Structured Progress Tracking
Day-wise execution plans were created and shared with stakeholders. Daily defect triage ensured timely prioritization and closure of issues.
End-to-End Performance Testing
A detailed performance testing strategy validated system behavior across Calypso, EOD batches and EPH, BPS, Swift, and other connected applications. Simulated real-world user concurrency ensured reliable performance for end users.
Multi-Layered Monitoring
A combination of tools such as AppDynamics, database logs, and Perfmon provided real-time visibility into application and system performance, enabling quick issue identification.
Performance Benchmarking & Tool Innovation
Because Calypso is a thick-client application, traditional PT tools were insufficient. The team innovatively repurposed automation scripts and executed them using LoadRunner, supported by 20 terminals running LoadRunner and UFT for accurate load simulation.
Validation Strategy for Treasury Transformation (Legacy Treasury System to Calypso V17)
- System Integration Testing (SIT): Validated end‑to‑end workflows across Calypso and interfacing applications, identifying system defects early in the lifecycle.
- User Acceptance Testing (UAT): Enabled business teams to validate real‑world workflows, ensuring functional alignment with operational needs and confirming readiness for production use.
- Regression Testing: Regression cycles were powered by the extensive automated test suite (5,000+ cases), ensuring that repeated changes did not break existing functionality.
- Performance Testing Strategy: A tailored performance testing strategy validated Calypso V17 and all integrated systems by simulating real‑world workloads using LoadRunner, UFT, and JMeter, ensuring seamless end‑to‑end performance across Calypso, EOD batches, EPH, BPS, and Swift. A multi‑layered monitoring setup with AppDynamics, database logs, and Perfmon enabled precise issue detection and confirmed the platform’s readiness for high‑volume treasury operations.
- Multi‑Layer Monitoring & Analysis: Real-time and backend monitoring tools helped validate resource usage, latency, transaction behavior, and integration health under stress.
Results Achieved
5,000+
automated regression test cases delivered as reusable assets covering all 7 products
1,700
functional defects identified during SIT, UAT, and Regression phases
20+
performance test scripts handed over for future scalability and enhancements
10
performance defects identified during PT for benchmarking in the bank’s environment
Reusable Assets and Business Impact
- Enabled higher transaction volumes at reduced cost per transaction through enhanced Straight‑Through Processing (STP), eliminating manual steps and improving operational efficiency.
- Improved real‑time visibility and decision‑making by providing real‑time position monitoring, risk management, and enhanced monitoring capabilities across treasury operations.
- Modernized the treasury ecosystem, allowing the bank to handle high‑volume transactions efficiently and operate with greater accuracy and agility.
- Enabled faster and more reliable business operations by replacing a legacy system with a modern, scalable, and integrated treasury platform.
- Straight-through processing (STP): Automated trade booking to payment without manual intervention.
- Real-time Monitoring: Dashboards for proactive alerts and threshold-based notifications.
At QKTech, transformation assurance sits under Digital Reliability, one of the six pillars of our Reliability OS for Enterprises, which helps enterprises ship AI agents and modern platforms without the risk.
Planning a core banking or treasury system migration? Schedule a free consultation with our quality engineering team.
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