Moody’s Corporation (NYSE:MCO) has announced the acquisition of Numerated Growth Technologies, a loan origination platform for financial institutions. This acquisition is an expansion of Moody’s Lending Suite capabilities, providing banking customers with an end-to-end loan origination and monitoring solution. The partnership between the two companies, which was announced in January 2024, has already integrated Numerated’s front office, decisioning, and loan operation technologies with Moody’s credit assessment, underwriting, and monitoring expertise.
Rob Fauber, President and Chief Executive Officer of Moody’s, stated that the acquisition of Numerated will accelerate their Lending Suite capabilities and provide banking customers with a credible end-to-end lending solution as they undergo digital transformation programs.
Numerated uses data and artificial intelligence to streamline and enhance bank lending processes, improving application, decision-making, and closing processes through enhanced data integrity. Financial institutions with a combined $3 trillion in assets use Numerated’s platform, and since its inception, over 500,000 businesses and 30,000 financial institution associates have used the platform to process over $65 billion in lending.
The terms of the transaction were not disclosed, and it is not expected to have a material impact on Moody’s 2024 financial results. This acquisition demonstrates Moody’s commitment to providing innovative solutions to its banking customers and enhancing its position in the loan origination market.
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