Credit rating agency Moody’s has acquired ZM Financial Systems (ZMFS) to boost risk assessment capabilities for US banks.
ZMFS is a risk and financial management software provider for the US banking industry.
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ZMFS will be integrated into Moody’s Analytics’ Enterprise Risk Solutions (ERS) line of business.
The financial details of the transaction have not been divulged; however, it was funded with cash on hand.
Moody’s said it does not expect the transaction to have a material effect on its 2020 financial results.
The acquisition expands Moody’s Analytics’ suite of enterprise risk solutions, whichhelp banks make informed decisions.
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By GlobalDataMoody’s Analytics president Stephen Tulenko said: “ZM Financial’s advanced analytical tools are a trusted source for risk management software used by US banks, credit unions, and broker-dealers.
“The addition of ZM Financial’s leading ALM capabilities furthers Moody’s global leadership in risk assessment and will help us support financial institutions of all sizes.”
The product suite offered by ZMFS allows banks to manage risk, make business decisions regarding asset and liability management (ALM), portfolio management, liquidity, solvency, and budgeting.
These solutions use a cash flow engine to help banks analyse data patterns, model positions, trade securities, and buy and sell loans, for ultimately forecasting and stress testing their balance sheets.
ZMFS co-founder Butch Miner said: “Joining Moody’s and integrating their well-known economic and behavioural models will greatly elevate our offerings to financial institutions.
ZMFS co-founder Dai Zhao added: “Together, we will continue to evolve our analytical solutions and optimize processes to help customers meet their continued growth and risk management objectives.”
