UBS is making progress in integrating the IT systems of Credit Suisse.

The bank plans to have 85% of its IT teams in-house, with the CEO emphasizing the importance of data management during the consolidation process.

UBS will begin migrating registered customers in Hong Kong and Luxembourg after successful tests.

The goal is to transfer 1.3 million customers and 110 petabytes of data, which could be the largest data migration in the financial services sector.

So far, UBS has decommissioned around 560 applications, 13 petabytes of data, and 40,000 servers.

The bank is on schedule for applications and ahead of schedule for server decommissioning.

UBS intends to internalize IT positions, retaining most specialists from Credit Suisse and reducing reliance on subcontractors.

This will increase the proportion of in-house IT and operations teams from 60% to 85%.