You can now choose to disregard company financial statements when using the Moody’s Orbis integration for your monitored company data checks. This will help to reduce the number of profiles being placed back in review by Orbis monitoring if new financial statements are not relevant to your ongoing review process.

Background

When using the Moody’s Orbis integration with monitoring, company profiles are placed back into the review status when there are certain updates to the Orbis data. These profiles may require manual completion.

Changes to the following data points result in a profile being placed back into review:

• Change of company name (metadata.name)
• Change of address (metadata.addresses)
• Change of status (metadata.is_active and metadata.is_active_details)
• Addition, removal, or resignation of an officer (associated_entities)
• Addition, removal, or resignation of a shareholder, controlling shareholder, beneficial owner, or global ultimate owner (associated_entities)
• New financial statement (financials)

Some customers told us the number of monitoring updates was too high. We identified that new financial statements accounted for a large portion of these updates. For some clients these financial statements are not relevant to decisions made during the onboarding or review process, so we’re now providing the option to exclude updates caused by financial statements.

You can read about monitoring on our help site.

What’s changed

There is now a configuration option in the Policy builder that allows you to ignore company financial statements when using the Moody’s Orbis integration for your monitored company data checks.

This configuration option can be changed by the Moody’s Client Service team.

Important information

If you decide to turn monitoring updates for financial statements back on at a later date, all profiles that have not received the latest financial statements will be placed back in the review state with all company data checks expired. This could represent the entire portfolio.

Out of scope

• A wider ability to choose which data points to monitor.
• Information about which data points changed when the profile was placed back into review.

We are still improving monitoring of Orbis data in the platform, and expect to provide further improvements over the course of this year.

Get started

If have any questions or you’d like us to set this up for you, get in touch with our Client Service team.