Moody’s modernizes platform and processes, speeds delivery
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.
Moody’s Investors Services needed to modernize its aging business platforms—and its business processes, which were manual and inefficient. In addition, 85% of its technology systems were at or nearing end of life, risking security and limiting updates and support. 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.
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.
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.
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