Asia Awards 2023: Best regulatory reporting platform—Moody’s Analytics

Product: Reporting Studio

Overview

Changing regulatory requirements, large numbers of reports to be submitted, tight submission deadlines, data issues, and increasing costs are some of the challenges facing banks with respect to them meeting their regulatory reporting obligations. Moody’s Analytics offers an end-to-end regulatory reporting platform, Reporting Studio, part of Banking Cloud—an eco-system of cloud-native banking solutions—that combines the regulatory methods, calculation, and reporting, and by so doing streamlines the entire regulatory reporting process.

“As technology is driving innovation in banking, we are combining that technology with our deep regulatory expertise to create effective, scalable and fully integrated solutions that can grow with our clients. Our Banking Cloud and Reporting Studio solutions enhance and transform regulatory compliance, enable a consistent view of risk and go beyond the regulatory to provide banks with confidence to act on their plans.”
Karina Beeckmans, director of marketing, Moody’s Analytics

The solution

Reporting Studio is designed to combine the benefits of cloud-native technology and Moody’s Analytics’ regulatory expertise. It features regulatory compliance, data management, business intelligence, and reporting capabilities to help financial institutions reduce their regulatory burden and the total cost of compliance. With Reporting Studio, users can produce, review, adjust, and validate the regulatory reports they submit to regulators.

Secret sauce

To ensure that its clients are always up to date, Moody’s Analytics delivers out-of-the-box configurations for managing their specific reporting requirements. The firm’s solutions cover over 50 jurisdictions, more than 150 stacks, and over 3,000 built-in report templates. Clients benefit from Moody’s Analytics’ datasets integrated with its various solutions/platforms—for example, the Orbis database of more than 450 million companies worldwide and the firm’s data assets collected from over 130 institutions globally.

Recent milestones

  • Continuous investment in software-as-a-service (SaaS) infrastructure—moving its reporting engine to Apache Spark, ensuring stable and quick processes whatever the volume of data ingested
  • Partnership with EY to develop local reports 
  • Global regulatory expertise with local coverage to answer the market’s needs 
  • Banking Cloud calculation engine now allows users to populate their regulatory reports in Reporting Studio 

Future objectives

  • Data reconciliation: Allows users to compare source data with final reports to ensure no data is/was lost 
  • Streaming mode: Processes reports not only in batch mode but on a streaming/incremental mode, allowing reports to be produced in real time 
  • Continued development of API and microservices to facilitate integration 

Why they won

Moody’s Analytics maintains its track record in these and other WatersTechnology awards by winning the best regulatory reporting platform category, one of the most hotly contested of all 29 categories on offer this year, thanks to its Reporting Studio offering. The platform combines cloud-native technology, the firm’s regulatory expertise and a range of functions including regulatory compliance, data management, business intelligence, and reporting to help users reduce their total cost of compliance. 

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