Moody’s Acquires Stake In Alternative Data Provider11.06.2020
Moody’s Corporation announced that it has acquired a minority stake in MioTech, a leading provider of alternative data and insights serving the environmental, social, and governance (ESG) and know your customer (KYC) markets in Greater China. The investment reflects Moody’s commitment to providing China’s evolving financial markets with innovative ESG and KYC solutions.
MioTech uses artificial intelligence (AI) to track and scan alternative data sources related to ESG and KYC factors, supply chains, and financial information for over 800,000 public and private companies in China. Its analytical tools are designed to turn unstructured datasets into insights for portfolio managers, research analysts, and risk managers, and its AI algorithms detect entities’ vulnerabilities by monitoring news, social media, disclosure, and other forms of alternative data in real-time.
“MioTech’s leading technology platform collates and analyzes an impressive range of company, industry, ESG, and KYC data from a variety of public sources to provide relevant information to customers,” said Min Ye, Managing Director and Head of International for Moody’s. “Our partnership will provide valuable data, analytics, and insights to China’s domestic risk and investment markets.”
Moody’s and its affiliates will seek to incorporate MioTech’s alternative data and product offerings to streamline analytical processes, monitor portfolios, inform risk assessments, accelerate product developments, and deepen coverage of China.
“MioTech looks forward to an exciting partnership with Moody’s,” said Jason Tu, CEO and Co-founder of MioTech. “Moody’s deep industry know-how will further strengthen MioTech’s data and technology across different sectors and geographies.”
MioTech will continue to operate as an independent entity.
The investment was funded with cash on hand and is not expected to have a material effect on Moody’s 2020 financial results.
With Angely Yip, Senior Sales Manager, Chinese Financial Institutions, BNP Paribas Securities Services
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