Enigma Technologies

An identity graph links brands, locations and legal entities into business profiles, and verification matches applications against it at decision time. Data supply is the decisive asset rather than modeling, and the product would still sell as a feed without the models.

Data feeds a lender's own models and analysts, keeping judgment with the institution, but verification and screening now decide at application time. What a verification may conclude alone, what confidence comes with a match and whether a failure routes to a person are not described.

Published figures describe coverage and customer outcomes, and screening claims fewer false positives without a rate. A guide to card revenue data appears in the documentation, but no accuracy or validation result accompanies it.

Ramp reached a 94 percent match rate with Enigma stacked beside its existing vendors, Wisetack cut costs by 60 percent after making it primary, and FMCG Direct saw a 380 percent lift in lending conversion. None of the figures carries a period or method.

How card transaction data is anonymized or aggregated before it reaches a customer is not addressed. Nor does anything say whether customer queries, uploads or outcomes improve the scores and matching served to other institutions.

Information about companies and the individuals connected to them falls under the privacy policy updated July 1, 2024, which covers the business data products as well as the website. Retention lasts as long as the purpose requires, and the data providers behind it are unnamed.

SOC 2 Type 2 compliance covering security, availability and confidentiality is stated, with encryption in transit and at rest. Audit period, auditor and a report route are not given, and no trust portal is offered.

Statutes, supervisors and instruments are absent from the homepage, privacy policy and documentation, and nothing addresses the Fair Credit Reporting Act. Selling business financial data to lenders sits near the consumer reporting framework wherever assessment reaches the owner, and where that line falls is unpublished.

Card revenue data feeds small business lending decisions, so it shapes which businesses qualify for credit. Businesses that take little card payment, being cash heavy, rural or invoice based, are thin or invisible in the panel, and no fair lending testing, coverage analysis by business type or adverse action guidance is published.

A revenue figure that understates a business can cost it credit, and that business is observed without being the customer. The privacy policy grants access, correction, deletion and opt out rights over company and owner data, which corrects records rather than a lending outcome, and Enigma publishes no warranty on the figures.

Revenue comes from an observed card transaction panel, and figures derived from observed transactions are distinguished from estimates modeled on employee counts or industry codes. Government records and unnamed third party providers add to it, while the processors or issuers contributing the panel are not identified.

Public documentation covers a GraphQL API for business verification and account enrichment, with console access, file enrichment and MCP access on the Max plan. No core banking, origination or onboarding system is named as an integration.

Amazon Web Services hosts the data service, but no region, residency commitment or private option is stated.

Rates are published per returned result, at a cent per credit: KYB Identify costs $1.50, KYB Verify $2.50 and watchlist screening 50 cents. Plans run from free through Pro at $20 a month and Max at $200 to a negotiated Enterprise tier.

Banks such as Capital One, Chase and Truist buy alongside fintechs, payroll and lending platforms, with solution pages for business verification, screening and underwriting. Coverage is limited to American businesses, though attributes extend past identity into card revenue and growth, and material by institution type is thin.