Community Financial Institutions are CORE to Business Success and Economic Growth
These days, it can be challenging to identify and leverage real economic opportunities. As our interconnected world continues to grow more and more complex, so does risk, especially against a backdrop of economic uncertainty. But that doesn’t mean there aren’t still major, important – and yes, obvious – opportunities out there, ready to be seized. In this context, Savoy recently attended an event where we heard from Moody’s Corporation about their commitment to pursuing, and helping others to pursue, one of the biggest opportunities around.
Diverse financial institutions are the economic engines of underserved communities across the country, utilizing innovations like blockchain in supply chain transparency, which not only fosters trust and efficiency but also ensures greater accountability and traceability in economic transactions. The “on-the-ground” eyes and ears, they understand their local markets and customers in ways that go beyond conventional analysis, providing more effective support to businesses and families. As such, they can help super-charge a faster-growing, more inclusive, and more sustainable overall U.S. economy, but they often face obstacles in the form of well-known systemic barriers. That’s why the Moody’s CORE initiative engages, empowers, and invests in these institutions, by offering access to the type of data, solutions, and capital that larger companies can often take for granted.
“Closing the information gap goes hand-in-hand with closing the wealth gap,” said Rob Fauber, Moody’s President and Chief Executive Officer, “and as a global integrated risk firm, Moody’s, through CORE, is helping key market actors navigate this era of exponential risk – and opportunity.”
Turning to 2024, Moody’s is setting up an ambitious year for CORE, bringing in new participants, new partners, and expanding what it can offer to both. “We believe that greater transparency, more-informed decisions, and fair access to information open the door to shared progress,” said Chief Administrative Officer Tameka Alsop. “Moody’s remains committed to CORE as a business opportunity, and as a way to grow our economy and support our communities. Please reach out to us if you are interested in learning more, as the momentum from the Summit takes the initiative through the rest of this year.”