Moody’s Partners with TrueBiz to Automate Merchant Risk Assessment and Underwriting

TrueBiz, a specialist in automated merchant risk assessment, is excited to announce its partnership with Moody’s, a global leader in digital KYC and AML solutions. This collaboration aims to streamline how financial institutions (FIs) verify the businesses they are onboarding with a more efficient and secure experience.

Moody’s Passfort platform is trusted by a wide range of FIs, including Currencycloud, Tide, and Revolut, across 197 countries. It facilitates over 4.3 million onboarding journeys annually -  automating due diligence checks and reducing onboarding times.

With the integration of TrueBiz, Moody’s customers using Passfort can now enjoy an even more robust merchant verification process. TrueBiz's AI-driven platform analyzes hundreds of risk signals across a merchant’s web presence in under 30 seconds, providing a clear and configurable pass/fail assessment, together with over 200 data points on the merchant’s profile. Until now, understanding a merchant’s website and internet reputation has been an arduous, manual, and error-prone task; TrueBiz uses proprietary AI algorithms to streamline and standardize the process. This enables FIs to reduce overheads in the underwriting process and reduce friction for legitimate merchants while keeping fraudulent and prohibited merchants off their platforms.

“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.

TrueBiz’s Web Presence Review is now available to Moody’s customers using Passfort within their existing environment. They can deep search the web for a broad spectrum of merchant risk signals. TrueBiz instantly surfaces actionable results to give Moody’s customers a comprehensive and confident understanding of the merchants accessing their services.

“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

About Moody’s Compliance and Third-Party Risk Management

Moody’s is transforming the world of compliance and third-party risk management. Integrating award-winning data, workflow automation, and AI-driven solutions so any organization can understand their counterparty risk and make decisions with confidence about who to work with. Find out more about Moody’s Passfort solution here.

About TrueBiz

TrueBiz reduces manual review during business underwriting by automating analysis of the company’s web presence. TrueBiz provides an instant assessment of the web presence riskiness, together with detailed data on the company from around the web (200+ data points like industry, policy analysis, location, and review sentiment).