Enigma Technologies and Verisk Financial Collaborate to Provide Insights into Small Business Financial Health, Offering Lenders Clarity
NEW YORK, Feb. 1, 2021 /PRNewswire/ — Enigma Technologies, a data science company that collects and analyzes information on the health and identity of every U.S. business, announces a strategic collaboration with Verisk Financial, a Verisk company relied upon by leading financial institutions, payments providers, and retailers around the globe.
During this year-long pandemic, lenders have been struggling to assess small business financial health and, lacking clear information, rejected eight out of ten loan applications from small businesses. Through the Verisk collaboration, Enigma is launching a new solution that allows 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 provides actionable estimates about the financial health of more than 20 million small businesses.
As part of the collaboration, Enigma joins a consortium of banks, payments processors, and financial institutions to provide trustworthy