You can now choose to populate the Company type field with Orbis’ national legal form when using the Moody’s Orbis integration for your company data checks.

Background

When a Moody’s Orbis company data check completes, the company type field is populated with Orbis’ standardized legal form. The standardized legal form helps provided a consistent set of values across jurisdictions.

This can be useful for providing a standardized user experience across a global portfolio of companies. For some clients, the more specific information provided in the national legal form helps users understand the nature of a company’s legal structure more accurately by more closely reflecting the information from the company registry or Orbis’ information providers.

What’s changed

The Company type field in the Verify company details task is a free-text field. You can now choose to populate this field with the national legal form instead of the standardized legal form.

You still use the Standardized legal form option by default, and there will be no change for existing clients unless your configuration is updated to use the new field.

Find out more

You can read more about the Moody’s Orbis integration in our help docs, and more about the national legal form in the Orbis help docs (login required).

If you’d like us to set this up for you, contact us.

You can now identify if an onboarded company has any state ownership or control using the Assess company ownership task in Passfort.

We are now surfacing additional data for an onboarded company’s global ultimate owner, controlling shareholders, and shareholders if they are categorised by Orbis as public authorities, states, or governments.

The new field ‘Entity subtype’ appears as part of the Assess company ownership task if you are using Orbis as your company data provider and if the Orbis value is set to ‘Public authority/State/Government’.

No configuration is required—the data will be available for any newly run company data checks going forward.

We've added the ability to see screening data in the Profiles view. 

What's changed?

Users will now be able to add screening data columns to their views in the profile list.

This will allow the user to clearly see which match types each profile has and the statuses of these matches, allowing them to more easily direct their attention and prioritize their workflows accordingly. 

We have also renamed the “Other” match type “Refer” to align with the language used throughout the platform.

For more information on screening matches and the profile list, please consult our help topics:

• https://help.passfort.com/en/create-custom-profile-views-and-share-them-with-your-organization.html
• https://help.passfort.com/en/about-screening-in-passfort.html

Our logo has been updated as part of the new Moody’s branding update, and we have also made a small change to the header bar.

These changes are just a part of our new branding and won’t impact any functionality.

Passfort users can now use the Assess cyber risk check that helps to identify companies facing cyber security related issues within their portfolio.

The Assess cyber risk check uses Bitsight data to rate companies on a scale of 250-900 for their overall cyber risk. Additional details are provided including cyber risk vectors for the following categories: compromised systems, diligence, user behavior, and public disclosures.

How it works

• The Assess credit risk data provider makes use of Bitsight data.
• The data provider uses the company data check template.
• Cyber risk rating, cyber risk vector grades, and data breach and ransomware incident likelihood are returned within the assess cyber risk task.
• The user can click on See historical data to see how the cyber risk rating and the risk vectors have changed over time.
• Thresholds for the highest acceptable rating for a company can be configured with the data provider, causing the check to pass or fail based on this threshold.

The check result includes the likelihood for data breaches and ransomware incidents for the selected company.

Detailed cyber risk ratings are broken down into additional risk vectors to show a more granular view of how the cyber risk rating was derived.

Out of scope

Data from other Bitsight products.

Using the new Assess credit risk integration

If you’d like us to set this up for you, contact us.

Useful links

• Passfort help site 
• The impact of cybersecurity management practices on the likelihood of cyber events and its effect on financial risk

We've updated the navigation on the Passfort help site! To improve the ability to find information on our help site, we've made the following improvements:

• More Quicklinks on the home page -  We've used analytics to uncover our most used pages and given you easier access. 
• APIs - We've added links to all of Moody's Analytics KYC API references to our top navigation.
• Clearer navigation structure -  We now have a clearer navigation structure with our help content classified according to user needs. 

Passfort users can now use the Shell company indicator check to uncover shell company risk within complex corporate structures of potential customers/third parties during onboarding and investigations.

Using our data insights and typology-based rules engine, this tool can be used for screening during supplier due diligence, customer due diligence (CDD) and further investigation as part of enhanced due diligence (EDD).

The Shell company indicator is part of Moody’s Analytics compliance and third-party risk solution that brings together data and automated workflows to help efficiently onboard and assess customers, suppliers, third parties, and other target entities.

It's difficult and time-consuming to identify shell company presence and associated risks. Companies are often deliberately set up with unnecessarily complex corporate structures, to facilitate financial crime, including tax evasion by hiding taxable income and financial assets in a shell corporation within a tax haven.

Even the most sophisticated organizations do not have the in-house data analytics, engineering resources, and subject matter expertise to know where and how to identify shell companies and investigate the risk of doing business with them.

Accessing the Shell company indicator check

You can access the Shell company indicator check from Passfort as a custom check or a data feed on the DataHub.

Contact us

To get started with this check or if you have any questions, email MoodysShellCompanyIndicator@moodys.com or contact your Moody’s Analytics Relationship Manager.
You can read more about the Shell company indicator on our help site. 

Users can now benefit from the new Assess credit risk check that helps to identify companies facing credit issues within their portfolio.

The Assess credit risk check uses Moody’s Analytics' advanced methodologies to identify the credit risk for companies both public and private. Companies are scored on a scale of 0-100 for their credit risk score and additional details are provided including a 1-year point in time probability of default (PD) and Moody’s implied rating.

How it works

The Assess credit risk check is powered by the API of the EDF-X product.

The data provider uses the company data check template.

Credit risk score, PD, and Moody’s implied rating are returned within the Assess credit risk task.

The user can click on the Credit risk score history chart in the check result and see the history of the score over a period of 1 year, 5 years, or a maximum duration. Scores can be shown numerically or based on the descriptive range they fall within.

The Credit risk score details section shows the underlying data the score is derived from including the company’s current PD and Moody’s implied rating, compared to the same values from 6 months in the past.

Peer group data is provided, showing the peer group that the company belongs to and median information for the credit risk score, PD, and implied rating to give additional context to the company being checked.

Thresholds for the highest acceptable score range for a company can be configured in the data provider settings, causing the check to pass or fail based on this threshold.

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The check result for the Moody’s EDF-X Assess credit risk data provider within the Assess credit risk task, including the credit risk score history visualization.

Credit risk score details show the data that the credit risk score is derived from including the PD and Moody’s implied rating.

Out of scope

Data from other EDF-X products.

Using the new Assess credit risk integration

If you’d like us to set this up for you, contact either your Sales Representative or your Relationship Manager or fill out this form.

Useful links

EDF-X:

Coverage in EDF-X

PD Implied Ratings

Model Hierarchy Guide

Implied Rating Mapping

Passfort:

Passfort help site

Passfort users can now benefit from a new Moody’s ESG Score data provider that will run an environmental, social, and governance (ESG) check to evaluate a profile’s ESG scores, including the overall score and the detailed score breakdown.

The Assess ESG check assesses the degree to which companies take into account ESG objectives in the definition and implementation of their strategy and policies. Assess ESG is composed of two scoring methodologies, analyst and predicted scores. Analyst scores are displayed for publicly traded companies when available, otherwise predicted scores that are calculated from a set of models are displayed.

How it works

The ESG data provider makes use of Moody's ESG Scores API.

The data provider uses the company data check template.

There is a banner at the top of the check page that tells you if the scores were generated by Moody's Analytics ESG Analysts (analyst scores) or by Moody's Analytics ESG Score Predictor (predicted scores).

An overall ESG score is provided along with a score for each Thematic pillar. Thematic pillars are environmental, social responsibility, and corporate governance. These three pillars enable users to assess and compare companies' performance in managing ESG-related dependencies to their business and impacts on their stakeholders and the environment.

The Detailed score breakdown shows additional scoring broken into six different criteria scores – business behavior, environment, corporate governance, human rights, human resources, and community involvement.

Each criteria score is further broken down into domain scores which provide a detailed look into the criteria scores that roll up into a thematic pillar, better illustrating the reason for each of the scores.

Thresholds for the overall ESG score and each of the thematic pillars can be configured in the data provider settings, causing the check to pass, partial-pass or fail based on the returned results.

The See historical data section provides previous ESG scores of a profile. This is only available for analyst scores.

The check result for the Moody’s ESG score data provider within the Assess ESG task.

Out of scope

Data from other Moody’s ESG risk solutions.

Using the new Assess ESG integration

If you’d like us to set this up for you, contact your Relationship Manager or fill out this form.

Useful links

Passfort help site

Effective Monday, 16 October 2023, our support platform will change from Zendesk to Salesforce.

This change is part of our ongoing efforts to improve and align Moody's Client Services, ensuring a more streamlined and efficient communication process.

All existing support tickets will be unaffected. To raise a support ticket, you can continue to email us at support@passfort.com.

If you currently utilise the support portal to view tickets, please note that you will no longer be able to access it after this date. There will be no replacement portal at this stage.

If you have any questions, please get in touch with our support team via support@passfort.com.