Transaction Summary – Data Archival Journey

INTRODUCTION :

Bajaj Finserv AMC was experiencing a significant system load due to the vast volume of historical transactions, which was impacting overall performance. To address this, the organization sought to implement a strategic data archival solution. The goal was to archive historical account transactions while ensuring that critical transactional data remains readily available at multiple levels, including distributor, investor, and BIC (Business In Charge).

BUSINESS CHALLENGE :

1. A large volume of historical account transactions needed to be archived to improve database performance and reduce storage costs.
2. Key transaction summaries were required at distributor, investor, and BIC levels ensuring continued reporting capabilities even after the archival.
3. Archived data should remain accessible for reporting, especially for regulatory and audit purposes, while maintaining data integrity.
4. Handling various transaction types (Lumpsum, SIP, Switch-in, Switch-out) added complexity to the summarization and archival process.

SOLUTION :

1. Implemented Salesforce Financial Services Cloud to calculate transaction summaries. The system processes data based on filters (e.g., transaction type, account type) to generate aggregated data such as min./max. amounts, number of transactions, inflows, and outflows.
2. Leveraged Salesforce’s external ID and upsert function to ensure efficient and reliable insertion or updation of summary data records.

Fig.1 : End to end transaction summary flow

IMPACT :

1. Improved System Performance : By archiving historic data and retaining only essential summaries, the system's performance and response time improved, providing a better user experience for both administrators and end-users.
2. Post-Archival Data Access : Bajaj Finserv AMC can now access high-level transaction summaries even after detailed data has been archived. This ensures business users and stakeholders have the critical information they need for reporting and compliance.
3. Efficient Data Summarization : The implemented batch jobs summarized large datasets efficiently, ensuring minimal disruption to ongoing business operations during the archival process.
4. Consistency and Accuracy : The automated process ensured that transaction summaries remain consistent across multiple entities (distributors, investors, BIC), improving reporting accuracy.
5. Compliance and Reporting : Summarized data remained available for regulatory reporting and internal audits, ensuring compliance with financial regulations.
6. Optimized System Resources : Reduced system load, allowed Bajaj Finserv AMC to focus on current and future data without performance bottlenecks.