Rackspace Technology Works with Moody's Analytics to Analyze Data from 400 million Firms and Deliver Improved Risk Profile Offerings and Products
02/27/2023 - 12:05 PM
SINGAPORE, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT)
Moody's Analytics is a globally integrated risk assessment firm that empowers business leaders to make better and faster data-driven decisions through insights and analytical solutions. The firm acquired one of the largest providers of private financial statements with data from over 400 million firms with more than 20 years of credit history. Thus, Moody's sought a solution to improve their data management system and provide their clients with a rating or probability of defaulting score, enabling better risk assessment and better investment decisions.
Limited by their traditional data platform, Moody's Analytics realized that they needed to do more with their data. These ranged from enhancing existing operational processes, to deriving insights for a competitive advantage and improving products and services for existing clients.
The Rackspace Elastic Engineering (REE) team was deployed to deliver ongoing innovation, modernization, and transformation on a 24/7 basis and worked with Moody's Analytics to understand the key data sources, challenges, and the opportunities to extract actionable insights and metrics from Moody's database. Subsequently, Rackspace Technology designed a cloud-native solution with ETL processes for Moody's Analytics. This migration to AWS enabled Moody's Analytics to categorize each of the 400 million firms and define their probability of default on a daily basis within four hours.
“Rackspace Technology is proud to have made a difference with Moody's Analytics in solving their data management challenge and helping the company meet their IT objective in setting a new standard in financial scoring. Through our Rackspace Elastic Engineering (REE) offering, we are providing Moody's Analytics on-demand access to a dedicated team of cloud engineers, enabling a cloud-native and agile operating model to deliver the desired outcome for their clients," said Sandeep Bhargava, Global Head of Solutions and Services, Rackspace Technology.
According to Louis Chapman, Senior Director, Product Operations, Moody's Analytics, "We were on a mission to take our firm's massive database and Rackspace has enabled us to streamline and optimize our data streaming and aggregation processes to provide our clients with actionable insights. The Rackspace Elastic Engineering team was instrumental in this process, and they helped reorganize our data management system and rationalize it in a consumable and easily understood format for our clients to buy this data."
Moody's Analytics required such scalability to empower their clients to identify the best-in-class entities and portfolios to partner and invest in. The financial firm was also able to soft launch the Peer Aggregation Engine, an amplified version of their backend analytics system to enable Moody's clients to receive actionable insights and metrics on a regular basis.
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About Rackspace Technology Rackspace Technology is a leading end-to-end multicloud technology services company. We can design, build and operate our customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products and adopt innovative technologies.
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