Banking Perspectives: Banking connector – Connecting the dots on the Moody’s Banking SaaS Platform

In the Banking Perspectives blog series, we invite senior leaders from across Moody’s Banking to share their insights on technology at Moody’s and the wider banking industry.

In the last Banking Perspectives blog, Eric Ebel, Managing Director for Banking Product and Technology, spoke to us about how Moody’s Banking SaaS platform is helping banks maintain a competitive advantage.

In this edition, Annie Choi, Senior Director for Product Management at Moody’s Banking, discusses the technology which underpins the Banking SaaS platform.

Q: Thank you for your time, Annie. Let’s start by talking about the Moody’s Banking SaaS platform – what is it, and what are the benefits for our clients?

A: Moody’s cloud-native Banking SaaS platform integrates our ecosystem of solutions with our customer's ecosystem – connecting data, analytics and workflows. This means you can easily access the combined, interoperable benefits of our solutions, as well as make the most out of the insights from commonly shared data.

Through commonly shared data, analytics and workflows, we bring you a meaningful view of risk and opportunities throughout your organization. This helps your bank to be more agile, deploy new capabilities with ease and respond to the rapidly evolving regulatory and financial environment faster and with more confidence. 

Q: Interesting. Can you tell us more about how the Banking SaaS platform works?

A: Yes. We use something called the Banking Connector to well, connect, our solutions within the Banking SaaS Platform to our customer's existing infrastructure or workflows.

The way it works is:

• The Banking Connector simplifies the ingestion and integration of multiple data sources, connecting Moody’s data to customer’s data.
• This forms a layer where the data is connected in a meaningful way, based on your workflow needs. 
• This data can then be consumed by the relevant applications within the Banking Platform.

Previously, a bank would need to repeatedly provision core data essential for various solutions to run, then map and upload it for each solution. This is an inefficient process that causes delays and increases the cost of implementation.

The Banking Connector supports an ‘upload once, use multiple times’ philosophy, through structured and purposeful mapping, ensuring the most efficient use of the data.

This means a bank only needs to upload data once, to achieve systematic, fit for purpose data that can be accessed by several of a client’s solutions within a workflow.

This eliminates the need for multiple uploads and ensures data consistency across relevant applications – reducing a bank’s integration costs with Moody’s and its banking solutions.

This platform innovation therefore simplifies access to our offering, allowing customers to tailor their solution by easily integrating the exact capabilities they need, as well as creating a consistent single source of truth across multiple workflows.

It’s important to note that we do this whilst applying robust data governance protocols, including access controls, audits, lineage, segregation and encryption to meet data-focused regulatory requirements. These controls are in place to ensure data integrity throughout the data lifecycle. This is a fast-evolving space, and we partner with industry leaders to keep innovating in this area.