Success story
Moody’s modernizes platform and processes, speeds delivery
Overview
Moody’s Corporation provides credit ratings, research, tools, and analysis for global capital markets. Its credit rating agency business needed to transform its platforms to become more automated and efficient. With help from Red Hat, Moody’s modernized its operations, adopting DevOps principles and containerizing applications. The company reduced application development lead time from 4-6 weeks to 1 hour and quadrupled releases from 8-10 per year to 8-10 per quarter, greatly speeding time to market.
The entire 8-month engagement was built, designed, and implemented virtually. It was a fantastic example of collaboration. We gained speed and flexibility when we needed it most.
Challenge
Modernize aging technology to reduce risk
Moody’s Investors Services needed to modernize its aging business platforms—and its business processes, which were manual and inefficient. Moody’s needed help moving quickly to transform its IT environment with open source solutions, change its development processes, speed time to market, and ultimately reduce its risk.
Solution
Use open source solutions to speed technology changes
Moody’s partnered with Red Hat to create a business platform based on DevOps principles, containerized applications, and 12-factor application design methodology. Moody’s wanted to deliver code to production in 3 days, versus quarterly and monthly releases that required months of prior planning. Using Red Hat OpenShift, and with help from Red Hat Consulting and a Technical Account Manager, Moody’s was able to move off proprietary platforms and modernize its technology and processes.
Business outcome
Gain speed, quality, and efficiency
With its new open source platform and agile processes, Moody’s releases design sprints into production every 2 weeks. It can now stage rolling releases, allowing for user acceptance testing during the day so employees no longer have to work more than 40 hours on weekend releases. Moody’s reduced the number of handoffs for deployments from 10-15 to zero and quadrupled its releases from 8-10 per year to 8-10 per quarter. It can now release features within 1 hour instead of 4-6 weeks, greatly increasing productivity.
Open source fuels innovation. This fact is exemplified best by Red Hat’s customers, who are using open source technologies to change the game. We’re proud to call them "innovators in the open" and share their stories.
