To make the process fast, we can load the records in some staging table and then use TSQL query to update records(set base query).
There are companies, who create different Tasks/Transformation which are not available in SSIS by default.
Let's consider our above scenario, After searching on internet. I found that there is on Transformation which is created by Task Factory and that can perform Batch updates in Data Flow Task.
Finally our company decided that they are willing to pay for these third party transformation so we don't have to spend time on custom coding in SSIS.
here are the steps , how we can download these Task/Transformations and then add to our project and use it.
Step 1 :Go to http://pragmaticworks.com/
You will see Update Batch Transformation as shown below