InMatrix joins Moody's in $20m deal
- 22 May, 2001 08:15
Melbourne-based InMatrix Technology has aligned with US-based Moody's Risk Management Services to market credit risk assessment tools to the financial sector.
Under the $20 million deal InMatrix will service up to 10,000 users from around 800 financial institutions using software from Moody's Risk Management Services (a subsidiary of Moody's Investment Services) to assess the credit risk of business borrowers.
InMatrix will integrate its diagnostic software product Optimist 3000 with Moody's Internet-based credit risk exposure analysis tools.
The joint offering is designed for bankers, asset managers and researchers assessing credit risk.
InMatrix technical director, Josh Milner said the software does financial projections on companies to see where they are heading. He said the software lets banks and their clients communicate on financial analysis and strategy; it generates a diagnostic, one-page financial scorecard of a business.
While Moody's Investment Services had to integrate its US-written software with InMatrix's locally-written Optimist 3000 product, Milner said integration of the two systems was a seamless task as both were Web-enabled.
According to InMatrix officials, the software, when integrated with Moody's credit risk assessment tools, reduces the cost of an organisation's data capture by downloading a client's electronic data into the bank's standard format.
National Australia Bank deployed Optimist 3000 last year by integrating it into the bank's own accounting software system, Accelerate Decisions.
InMatrix is also in early negotiations with another of the top four banks for a similar rollout, officials said.