RTTNews | Dec 7, 2020 08:11AM EST

08:11 Monday, December 7, 2020 (RTTNews.com) - Moody's Corp. (MCO) has acquired ZM Financial Systems, a provider of risk and financial management software for the U.S. banking sector. Moody's Analytics will integrate ZMFS into its Enterprise Risk Solutions (ERS) line of business. The addition furthers the evolution of the Moody's Analytics offerings for the U.S. banking sector.

Stephen Tulenko, President of Moody's Analytics, said: "The addition of ZM Financial's leading ALM capabilities furthers Moody's global leadership in risk assessment and will help us support financial institutions of all sizes."

Moody's said the investment was funded with cash on hand and is not expected to have a material effect on the company's 2020 financial results.

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