Written by Chartis Research
Winning a game of chess requires strategy and tactics, seeing where the game will go next and making deft, skilful moves accordingly. The winners in the RiskTech100 ® awards are vendors thinking like grand masters, succeeding with decision-making and looking into the future to unlock opportunities.
One of the most successful in the results and rankings this year is Moody’s Analytics – crowned the winner of the Model Validation, International Financial Reporting Standard (IFRS) 9, Current Expected Credit Loss (CECL), Balance Sheet Risk Management and Credit Risk for the Banking Book categories. It not surprisingly also landed the RiskTech100 ® Strategy award, which celebrates leadership, execution, and financial performance.
Moody’s Analytics – which became a separate entity from Moody’s Investors Service in 2008 – is a global provider of financial intelligence and analytical tools used for empowering decision-makers in the financial services industry. “Moody’s Analytics continues to help its clients across the globe to satisfy their risk technology needs,” says Rob Stubbs, Head of Research at Chartis: “The breadth of its offerings is reflected in another top-five finish and five solution category wins.”
Steve Tulenko, Executive Director at Moody’s Analytics, says: “We are continually pushing ourselves to help customers become more agile and make better decisions faster.”
Regulators now expect the different departments within a bank to work well together, and new accounting standards such as CECL and IFRS 17 encourage the convergence of the traditional risk and finance functions. Moody’s Analytics is making it easier for these different groups to collaborate and speak the same language. Tulenko refers to the holistic orientation of Moody’s Analytics, crafting digitized solutions that support multiple constituencies. “We want the lender to see the same information as the credit portfolio manager, and the chief risk officer to have the same holistic view as the chief financial officer,” says Tulenko.
Another big theme for Moody’s Analytics is modularity. The company’s solutions are being built on next-generation technology, and these modular solutions can be packaged together to meet a firm’s unique needs, lowering the cost of ownership and increasing the potential for cross-functional work within the firm.
“We’ve been very intentional about architecting our solutions in a modular fashion,” Tulenko says. “Constructing solutions this way makes them more responsive to our customers’ needs, out of the box – delivering greater flexibility, more control, and much faster performance. Using our solutions, there’s no need to involve the IT department to run a new set of analytics,” explains Tulenko. “A customer can now ask ‘what if?’ and get an answer within seconds.”