Moody’s (MCO) BofA Securities 2026 Information & Business Services Conference summary

Key themes and strategic direction

• AI is deeply embedded across products, with a foundation built over a decade of cloud and data investments, positioning for scalable, resilient solutions and network effects.

• 89% of clients have GenAI in their infrastructure, but only 7% have fully deployed it, indicating significant runway for further adoption and monetization.

• The serviceable addressable market is $38 billion, growing at 9%, with expectations that vendor spend will increase as financial institutions shift from internal to external solutions.

• Nasdaq is focused on being a trusted transformation partner, leveraging gold standard data, hyper-resilience, and domain expertise to differentiate its GenAI offerings.

AI monetization and data business

• Nasdaq has a long history of selling data to intermediaries, including AI-powered search companies, with strong governance and real-time data controls.

• Real-time data is highly valuable for a short period, and strict contract compliance is essential for ongoing partnerships.

Anti-financial crime (AFC) and GenAI impact

• AFC business has seen a 19% increase in financial crime issues since 2023, now estimated at $4.4 trillion globally.

• Verafin, acquired by Nasdaq, leverages a consortium-based, AI-driven approach, serving over 2,760 banks and handling $1.8 billion in weekly transactions.

• GenAI is being rapidly deployed in AFC, with two agentic workers in market and six more in design, aiming to reduce client costs and improve detection.

• Enterprise and international AFC growth is accelerating, with a notable increase in enterprise client signings and successful pilots reducing false positives by 30%.