This partnership promises a more effective and safe onboarding process, revolutionizing the way financial institutions (FIs) verify businesses.

The driving force behind this collaboration is the mutual goal of both businesses to streamline and safeguard the FIs' merchant verification procedure. Through the integration of Moody's Passfort platform with TrueBiz's cutting-edge AI-driven platform, the effort seeks to provide merchant risk assessment with unmatched speed and accuracy.

The Passfort platform, which Moody's offers, is a reliable resource for several financial institutions (FIs), including industry titans like Currencycloud, Tide, and Revolut. It facilitates more than 4.3 million onboarding transactions a year in 197 countries. The strength of Passfort is its ability to automate due diligence checks and drastically reduce onboarding times. TrueBiz, on the other hand, specializes in using AI to analyze a merchant's online presence, quickly examining hundreds of risk flags. By offering a thorough pass/fail evaluation and more than 200 data points about the merchant's profile, our AI-driven study transforms the conventional, human method of determining a merchant's online reputation.

Users of Moody's Passfort can now perform a comprehensive online search for merchant risk signals using TrueBiz's technology, yielding actionable findings that provide a confident and in-depth understanding of the merchants. In terms of lowering manual reviews, improving security, and preserving a flawless experience for reputable merchants, this integration represents a critical turning point.

The collaboration also demonstrates TrueBiz's dedication to improving the merchant analysis procedure inside the Passfort ecosystem, with the goal of cutting manual review times in half and reaching a wider audience of FIs.

We're excited to collaborate with Moody's and its Passfort clients to provide the deep and insightful merchant research from TrueBiz on the platform. We've observed that our joint clients have used our combined offers to cut the amount of manual review in half. The CEO of TrueBiz, Danny Hakimian, stated, "We're thrilled to keep expanding this partnership throughout the platform to support FIs in providing the best experience for legitimate merchants, without compromising security or creating risk."

"A crucial tool for FIs to confirm company entities is TrueBiz. It offers strong defense against changing fraud risk and greatly enhances the user experience for reputable merchants by reducing high-friction processes. The Moody's Passfort platform will be even more beneficial for compliance and risk management teams with the integration of TrueBiz's AI-powered capabilities, according to Keith Berry, General Manager, Compliance & Third-Party Risk Management at Moody's.