Moody's acquires Omega Performance
Moody's announced that it has entered a definitive agreement to acquire Omega Performance. Omega Performance is a business unit of TwentyEighty. It offers a wide range of online credit training courses to clients worldwide and serves more than 300 customers, ranging from large global banks to local lending institutions. Omega's repository of lending case studies will significantly enhance the highly-regarded Moody's Analytics online Credit Coach learning platform, which empowers financial professionals to make lending decisions by providing a learning experience that is customized to each user's specific analytical needs. Using algorithms that track respondents' performance as they study real-life business scenarios, Credit Coach guides each learner through targeted coursework designed to remediate indicated areas of weakness. With the addition of Omega's case studies and content, Credit Coach will provide an even broader range of credit and risk scenarios facing today's lending and investment professionals. Both Moody's clients and Omega's clients will "benefit" from the synergies of the combined organization. By using a consistent framework across the institution, banks can systematically and efficiently train their staff, certify their proficiency, and benchmark the performance of both individuals and business units. The acquisition is expected to close within 30 days and is not expected to have a material impact on Moody's 2018 financial results.