The company is set to focus on utilising AI in order to optimise its tools in the process of combating illicit finance, while also addressing the expanding list of economic sanctions. The AI model was trained with more than 12 million decisions from human analytics reportedly, and it learned to reduce incidents of false positives. The new tool is expected to make identifying and preventing risk more efficient.
The company will also take an approach to maintaining process customer and contemporary records while leveraging an automated, AI-powered monitoring service that operates in real-time, known as perpetual KYC. Moody’s also mentioned that any change on a sanctions list will be published within 24 hours of it becoming official.
Moody’s part partnerships and developments
Moody’s represents a global integrated risk assessment firm that provides corporations and organisations with the needed services and solutions to improve their decision-making processes. Its data, analytical tools and insights aim to accelerate the development procedures of companies, while managing the risks an ever-growing industry as well. Moody’s had multiple partnerships and product launches in the last couple of months, covering several different geographic areas around the world.
In October 20230, Moody’s Corporation and Google Cloud announced a new strategic collaboration in order to combine Moody’s expertise in financial analysis with the latter’s advanced generative artificial intelligence (gen AI) technologies. This was set to optimise the manner in which Moody’s customers and employees use new large language models (LLMs) in order to gain new financial insights and summarise financial data in a faster and more secure way.
According to the press release published at the time, the partnership was sectioned on three core objectives: building LLMs and accelerating the overall financial analysis, improving enterprise search for financial data, as well as giving clients the possibility to access Moody’s Data in BigQuery for Financial Insights.
Earlier in September 2023, Moody’s Corporation announced the launch of Vietnam Investors Service And Credit Rating Agency Joint Stock Company (VIS Rating), a product that was released in partnership with Vietnamese financial institutions and was initiated by the Vietnam Bond Market Association (VBMA).
Following this announcement, VIS Rating was set to provide independent, secure, and comprehensive rating services to domestic corporate issuers in the region. Moody was expected to deliver its expertise and suite of products that cover credit rating, research, and risk analyses, in order to optimise VIS Rating as a safe agency of choice in Vietnam, aiming to meet the needs, preferences, and expectations of clients and customers in the area.
