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Enigma Partners with Alloy to Diversify Access to Small Business Intelligence
Enigma, a data science company that provides comprehensive intelligence about the financial health and identity of every U.S. business, announced today they have partnered with identity decisioning platform Alloy, the leading onboarding and transaction monitoring solution for banks and fintech companies. Working together, Enigma and Alloy will provide financial institutions a rich, unified view of small and medium businesses, all within the Alloy platform.
“Partnering with Alloy reflects our commitment to providing access to timely, accurate data about small and medium businesses,” said Charles Zhu, VP of Product at Enigma. “Alloy’s customers will now have access to monthly revenues and other financial health data to fuel credit decisions, right in the platform.”
Enigma’s proprietary machine learning algorithms combine hundreds of public and private data sources to generate its data about the financial health of more than 30 million small and medium businesses.
Now, Enigma’s data joins Alloy’s curated library of over 170 rich data sources, offered via Alloy’s API-based platform, empowering customers to automate identity decisions during account origination, monitor them on an ongoing basis and centralize credit decision workflows in one place.
For financial institutions that leverage Alloy to grow and scale their operations, the partnership unlocks an all-in-one option for integrating Enigma’s small business intelligence for decision-making.
Offering this new kind of data about small businesses, an underserved segment of the economy, delivers on Alloy’s mission of creating a more dynamic and accessible financial industry.
“We’re creating a future where financial services are accessible for all, including the millions of small businesses that may fall outside the historic profile for what ‘creditworthy’ looks like,” said Brian Bender, VP of Strategic Alliances at Alloy. “Our partnership with Enigma gives financial institutions access to the timely data they need to say ‘yes’ to more small businesses.”
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