19 Jul

Moody’s Analytics launches its Cloud Credit Risk solution

Moody’s Analytics launches its Cloud Credit Risk solution
Source: IBS Intelligence

Moody’s Analytics, provider of financial information, is launching its Banking Cloud Credit Risk solution , a computational engine and regulatory reporting tool available on the cloud. This software solution will be available as Software-as-a-Service (SaaS), this software will enable banks to comply with the latest regulations while eliminating the need for deployment and maintenance of an onsite installation.

The solution comes with preconfigured calculation rules and regulatory reports, which speeds up projects to comply with new regulations. It meets the latest requirements of the Basel Committee as well as the European Banking Authority (EBA) Solvency and Liquidity Guidelines and Regulations and local reporting requirements. Moody’s Analytics also provides regulatory monitoring and software updates which will be allowing financial institutions to adapt quickly to regulatory changes.

Andy Frepp, Managing Director at Moody’s Analytics comments “As with all of our cloud-based regulatory solutions, we have designed Banking Cloud Credit Risk to help financial institutions adapt more quickly to an ever-evolving regulatory environment while controlling their costs and gaining efficiencies, Technologies that offer flexible and scalable solutions are essential to achieve these goals.”

This SaaS provided by Moody’s lets banks to easily identify and understand earnings gaps between two reporting dates and assess the impact of future regulations on the profitability of their business enabling them to take informed decisions. By using this tool, banks can quickly load, transform and reconcile their data while benefiting from better data-logging and benefit from a unique and reliable source of data for their regulatory requirements. Banking Cloud Credit Risk joins Moody’s Analytics’ suite of cloud-based accounting and accounting solutions, which includes the Transactional Reporting Tool for AnaCredit reports in EU for accounting provisions in the United States.

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