Asset-backed securities (ABS) for credit rating agency

Cledar helps modernize and evolve the software and data infrastructure that underpins the asset-backed securities (ABS) solution of a global rating agency and financial services provider so the company can develop attractive investment products for its customers.

  • Industry

    Financial Services

  • Duration

    2019 - present

Complex Data Infrastructures
Data Modeling
Data Visualization
Finance Solutions


Our client, a global credit rating agency, offers its customers a wide and diverse range of financial products, solutions, and services that enable them to expand, diversify, and manage their investment portfolios. The agency’s asset-backed securities suite of services is regarded as one of the industry’s best.

Asset-backed security (ABS) is a type of financial investment that typically generates income for its investors from debt, such as consumer loans or credit-card balances. They are an increasingly important asset class within the global financial services sector.

As part of a years-long relationship, Cledar software developers have worked alongside (virtually) our client’s team to help them modernize the codebase and underlying data infrastructure of their ABS solutions, enabling them to evolve and enhance their products and services to meet and exceed the needs of the modern investor.


15,000 lines of code refactored

To stabilize the application and make it cloud ready

20 reusable UI components

Created to speed up the addition of new features

100+ bugs fixed

To improve performance and user satisfaction


The financial services industry and the area of investment products are highly complex and regulated. Products and solutions around ABS are highly dependent on intellectual property, access to huge volumes of data from multiple sources, as well as confidence in compliance, data accuracy, and security.

To work on the technical solutions that underpin these solutions – to create new investment products, enable their management, and facilitate high-quality analysis and visualization – requires an intimate knowledge of the industry and topic, as well as best-in-class software development and data infrastructure capabilities.

In this instance, our client had first built its solution many years ago, using monolithic applications hosted on on-premise infrastructure. The code base and hosting limited future evolution opportunities and were cost-ineffective. The platform needed to be modernized, documented, and migrated to an industry-standard secure cloud platform.



Understanding our client’s pain points and the limitations of the existing solution, we first refactored the application’s code base. This brought stability to the platform and meant we could test the modernized version of the solution without disrupting the existing tools that were in use. This modernization exercise also made it possible to safely migrate the application to the cloud.

This was a complex task due to the highly specific nature of the solution. For example, a key requirement was to ingest thousands of different data entries for securitized loans, and consolidate them using waterfall calculations . We also developed a ledger to enable business users to create new investment products quickly and easily. This required an intimate understanding of the solution, the regulatory requirements in the sector, and user expectations.


Current state

Current state

Cledar continues to work with this . Our developers and engineers work alongside the client’s staff as part of an integrated, geographically distributed team. The Cledar team partakes in client-driven scrums and sprint reviews, and proposes improvements to the client’s ABS services and products.

With the system now migrated to the cloud, our client can take advantage of the constantly evolving suite of cloud-based data services and solutions coming to market and, importantly, spend less on maintenance, support, and testing. This saves money and enables our joint teams to devote more time and effort to adding new features and functionalities that address client needs, enhance the user experience, and keep the solution at the forefront of industry innovation.

Value-adding new features

We developed a ledger that enables business users to quickly and easily create new investment products.


Cloud migration makes it easy to continuously evolve the platform in line with tech, market, and regulatory demands.

Regulatory compliance

Our team demonstrates expert knowledge on the regulatory requirements of the industry to develop fit-for-purpose, compliant solutions.

Reduced support and maintenance

Thanks to refactored code, updated documentation, and the use of constantly evolving cloud-based and automated tools.

Have a high-value IP solution that you want to enhance using the latest data and AI tools and services?

Our team of data scientists, mathematicians, and software engineers have deep financial services expertise and experience working alongside in-house tech talent. Contact Cledar and let’s discuss how you can use data services, AI, and machine learning to generate even more value from your IP-based solutions and services.