Moody’s Analytics has partnered with Rackspace Technology which is aimed at helping the global financial intelligence services company manage datasets that involve 400 million firms, helping improve their existing risk profile offering and bring new competitive services to their clients.
An integrated risk assessment firm that enables business leaders to make better and faster data-driven decisions through insights and analytical solutions, Moody’s Analytics acquired one of the largest providers of private financial statements with data from over 400 million firms that have more than 20 years of credit history.
Thus, Moody’s sought a solution to improve their data management system and provide their clients with a rating or probability of defaulting score, enabling better risk assessment and better investment decisions.
Limited by their traditional data platform, Moody’s Analytics realised that they needed to do more with their data. These ranged from enhancing existing operational processes, to deriving insights for a competitive advantage and improving products and services for existing clients.
The Rackspace Elastic Engineering (REE) team was deployed to deliver ongoing innovation, modernisation and transformation on a 24/7 basis and worked with Moody’s Analytics to understand the key data sources, challenges and the opportunities to extract actionable insights and metrics from Moody’s database.
Thus, Rackspace Technology designed a cloud-native solution with ETL processes for Moody’s Analytics. This migration to AWS enabled Moody’s Analytics to categorise each of the 400 million firms and define their probability of default on a daily basis within four hours.
“Through our REE offering, we are providing Moody’s Analytics on-demand access to a dedicated team of cloud engineers, enabling a cloud-native and agile operating model to deliver the desired outcome for their clients,” said Sandeep Bhargava, global head of solutions and services at Rackspace Technology.
Louis Chapman, senior director of product operations at Moody’s Analytics, said Rackspace has enabled them to streamline and optimise their data streaming and aggregation processes to provide clients with actionable insights.
“The REE team was instrumental in this process, and they helped reorganise our data management system and rationalise it in a consumable and easily understood format for our clients to buy this data,” said Chapman.
Moody’s Analytics required such scalability to empower their clients to identify the best in class entities and portfolios to partner and invest in.
The financial firm was also able to soft launch the Peer Aggregation Engine, an amplified version of their backend analytics system to enable Moody’s clients to receive actionable insights and metrics on a regular basis.