Building on its existing cloud-enabled and software-as-a-service (SaaS) solutions, this latest development comes at a time when banks are increasingly considering cloud-based and SaaS solutions as a way to reduce costs, improve speed of operations, and extract more value from back-office and middle-office systems.
Solutions now available on the cloud include the Moody’s Analytics RiskAuthority™ platform, RiskConfidence™ ALM and Impairment system, Regulatory Reporting Module, RiskFoundation™ Discovery solution, and Scenario Analyzer. The cloud-enabled solutions can be deployed in public, private, or hybrid cloud environments, and cover various regulatory requirements and accounting standards, such as IFRS 9, CECL, ALM/IRRBB, and Basel I, II, and III. These solutions also address stress testing under the Dodd-Frank Act Stress Testing (DFAST) rules, Comprehensive Capital Analysis and Review (CCAR), and the European Banking Authority’s (EBA) rules.
“As banks look for ways to conduct business faster and more cost effectively, they seek a cloud-first approach to regulatory technology that enables them to have all of their solutions on a single platform,” said Andrew Bockelman, Managing Director at Moody’s Analytics. “Our objective is to empower banks that are implementing regulatory technology with a world-class cloud platform powered by our award-winning regulatory solutions.”
For clients that want a fully cloud-native technology stack, Moody’s Analytics is also launching the first of several new cloud-optimized SaaS offerings on Amazon Web Services (AWS). The first regulatory reporting SaaS solution will address the ECB’s AnaCredit regulatory reporting requirements. It will offer a hosted, flexible, and scalable regulatory solution to help financial institutions in the eurozone produce the required ECB AnaCredit reports.
“In moving forward with our cloud strategy, we are launching a new generation of products that are fully optimized for the cloud,” added Bockelman. “These solutions feature enhanced business intelligence, data management, and industry-leading reporting tools.”
Source: Moody’s Press Release