Moody’s expands lending tech suite with acquisition of Numerated Growth Technologies
Numerated Growth Technologies, which offers a commercial lending platform for banks and credit unions, has been acquired by Moody’s Corporation for an undisclosed sum.
Moody’s acquires Numerated for undisclosed sum
The transaction will see Numerated’s loan origination tech integrated with Moody’s lending suite, through which the fintech provides front office, credit assessment and underwriting tools to financial institutions.
Founded in 2017, Numerated leverages AI-powered financial analysis to streamline the end-to-end lending process – from application to decision-making to closing – for 30,000 financial institutions and over 500,000 businesses.
The company, based in Boston, US, previously entered into a partnership with Moody’s in January to power its lending suite with front office, decisioning and loan operation technologies.
Now the total integration of Numerated’s tech is intended to culminate in “a powerful end-to-end loan origination and monitoring solution”, according to a statement by Moody’s, which adds it does not expect the acquisition to have a material impact on its 2024 financial results.
Moody’s CEO and president, Rob Fauber, says that by bringing Numerated in-house, the company will “accelerate our lending suite capabilities” as it looks to provide more customers with risk data and analytical solutions.
