Moody’s teams up with TrueBiz to revolutionise merchant risk assessment


Moody’s, a digital KYC and AML firm, has announced a partnership with TrueBiz, a firm at the forefront of automated merchant risk assessment.

This collaboration is set to redefine the way financial institutions (FIs) verify businesses, promising a more efficient and secure onboarding experience.

The catalyst for this partnership lies in the shared vision of both companies to simplify and secure the process of merchant verification for FIs. By integrating TrueBiz’s advanced AI-driven platform with Moody’s Passfort platform, the initiative aims to offer unparalleled accuracy and speed in assessing merchant risks.

Moody’s brings to the table its Passfort platform, a trusted tool among a plethora of FIs including giants like Currencycloud, Tide, and Revolut, facilitating over 4.3 million onboarding journeys annually across 197 countries. Passfort’s prowess lies in automating due diligence checks and significantly curtailing onboarding times. On the other hand, TrueBiz specialises in leveraging AI to analyse a merchant’s web presence, scrutinising hundreds of risk signals in under 30 seconds. This AI-driven analysis provides a comprehensive pass/fail assessment along with over 200 data points on the merchant’s profile, thereby revolutionising the traditional, manual approach to understanding a merchant’s online reputation.

With TrueBiz’s technology, Moody’s Passfort users can now conduct a deep search across the web for merchant risk signals, bringing to light actionable results that offer a thorough and confident understanding of the merchants. This integration marks a significant milestone in reducing manual reviews, enhancing security, and maintaining a seamless experience for legitimate merchants.

Moreover, the partnership underscores TrueBiz’s commitment to refining the merchant analysis process within the Passfort ecosystem, aiming to halve manual review times and expand the solution’s reach to benefit more FIs.

“We’re thrilled to partner with Moody’s and its Passfort customers to offer TrueBiz’s rich and valuable merchant analysis within the platform. We’ve seen how our joint clients have been able to reduce manual review by half using our combined propositions. We’re excited to continue scaling this partnership across the platform to help FIs deliver the best possible experience for legitimate merchants, without sacrificing security or introducing risk,” Danny Hakimian, CEO at TrueBiz, said.

“TrueBiz is an important tool for FIs verifying business entities. It reduces high-friction processes to significantly improve the user experience for legitimate merchants while providing robust protection against evolving fraud risk. We’re excited to integrate TrueBiz’s AI-powered capabilities, making Moody’s Passfort platform even more valuable for compliance and risk management teams,” Keith Berry, General Manager, Compliance & Third-Party Risk Management, Moody’s, stated.

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