The solution is configured with pre-defined regulatory rules and reporting templates, providing banks with greater flexibility and faster turnaround times on their credit risk calculations and regulatory reports, including the Basel Committee on Banking Supervision (BCBS) standards, the European Banking Authority (EBA) Capital Directive regulations, and various national discretions used by local regulators. In addition, regulatory updates and software maintenance are managed by Moody’s Analytics, allowing financial institutions to scale the number of reports as required.
Banking Cloud Credit Risk enables financial institutions to easily identify and understand the variance between different reporting periods or regulatory requirements, and evaluate the business impact of future regulations to make better-informed business decisions. The calculation engine also allows users to conduct parallel runs of their risk-weighted asset numbers according to the standardized and internal ratings-based approaches, which will be required in 2022 with the introduction of the revised Basel III credit risk rules.
With intuitive data management capabilities, banks can quickly load, transform, and reconcile their data, benefiting from enhanced data lineage, and a single source of truth for their regulatory requirements.
“As with all of our cloud-native regulatory solutions, we designed Banking Cloud Credit Risk to help financial institutions drive bsusiness efficiencies, reduce their IT infrastructure costs, and respond to evolving regulations more quickly,” said Andy Frepp, General Manager at Moody’s Analytics. “Banks need to comply with the new requirements and manage their cost of compliance. Technologies that offer flexibility and scalability are central to achieving these objectives.”
Banking Cloud Credit Risk joins the Moody’s Analytics suite of cloud-native regulatory and accounting solutions, which includes the Transactional Reporting Tool for AnaCredit reports in Europe, and ImpairmentStudio™ for Current Expected Credit Loss (CECL) calculations and reporting in the US.
Last month, Moody’s Analytics won Best Vendor Solution for Transactional Reporting (AnaCredit) at the 2019 RegTech Insight Awards. In addition, Moody’s Analytics won the CECL category award in the 2019 Chartis RiskTech100®. The Chartis Research report evaluated 17 vendors offering CECL solutions.
Click here to learn more about the Moody’s Analytics Banking Cloud Credit Risk solution.
For the latest regulatory reporting insight from Moody’s Analytics, visit the Banking Regulatory Technology Resource Center.
About Moody’s Analytics
Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit our website or connect with us on Twitter or LinkedIn.
Moody's Analytics, Inc. is a subsidiary of Moody's Corporation (NYSE: MCO). Moody’s Corporation reported revenue of $4.4 billion in 2018, employs approximately 13,200 people worldwide and maintains a presence in 42 countries.