US-based financial services company Moody’s has announced the acquisition of Numerated Growth Technologies, a loan origination platform for financial institutions.
The financial terms of the transaction were not revealed.
Through the acquisition, Moody’s aims to further expand its lending suite capabilities across the credit lifecycle. This strategy is expected to offer banking customers a more robust end-to-end loan origination and monitoring solution.
In addition, Numerated’s integration into Moody’s lending suite is anticipated to create a complete loan origination workflow.
The latest deal builds on a collaboration launched earlier this year, which integrated Numerated’s front-office, decisioning, and loan operation technologies with Moody’s expertise in credit assessment, underwriting, and monitoring.
Moody’s Analytics’ collaboration with Numerated was also intended to deliver artificial intelligence (AI)-driven, commercial, end-to-end loan origination system.
Moody’s CEO and president Rob Fauber said: “As our banking customers undergo digital transformation programs to enhance their user experience, automate processes, and provide their front office functions with more data, they’re looking for a credible end-to-end lending solution.
“By bringing Numerated and its technology and expertise in-house, we’ll accelerate our Lending Suite capabilities to equip customers across asset classes with more of our industry-leading risk data and analytical solutions.”
Based in the US, Numerated leverages data and AI to optimise and simplify bank lending processes, including the enhancement of application, decision-making, and closing processes.
The platform has processed over $65bn in lending for more than 500,000 businesses and 30,000 financial institution associates.
Numerated’s clients are said to include financial institutions holding a combined $3 trillion in assets. These clients comprise Eastern Bank, MidFirst Bank, Bremer Bank, Dollar Bank, and Seacoast Bank.
Moody’s confirmed that the acquisition is not expected to have a material impact on its financial results for the fiscal year 2024.
