Enigma Technologies Announces Strategic Collaboration with Verisk Financial

As part of the new collaboration, Enigma joins a consortium of payments processors, banks, and financial institutions to offer trustworthy intelligence about a small business's financial health.

Fremont, CA: Enigma Technologies, a data science company that collects and analyzes information on the health and identity of every US business, has declared a strategic collaboration with Verisk Financial, a Verisk company relied upon by leading financial institutions, payments providers, and retailers around the globe.

During this coronavirus pandemic, lenders have been facing difficulties in assessing small business financial health and, lacking clear information, rejected eight out of ten loan applications from small businesses. Through the Verisk collaboration, Enigma is unveiling a new solution that enabling clients to see and understand how small business revenues are trending in near real-time. Combining these revenue trends with Enigma's proprietary entity resolution and machine learning techniques offers actionable estimates about the financial health of over 20 million small businesses.

As part of the new collaboration, Enigma joins a consortium of payments processors, banks, and financial institutions to offer trustworthy intelligence about a small business's financial health. Now Enigma can give even deeper insights into which businesses and economic sectors are stumbling and which ones are growing.

Hicham Oudghiri, CEO of Enigma stated, "Small businesses are fighting for their survival following a year of unprecedented challenges. These businesses are making investments to adapt to our new reality, yet they still struggle to access credit. Enigma is committed to addressing this data gap and providing the transparency needed for financial institutions to better serve the small business community."

"More timely small business health metrics have long been a need in small business financial services," said Lisa Bonalle-Hannan, President of Verisk Financial, "We are excited that Verisk's insights and Enigma's business identity resolution technology make this solution possible."