NEW YORK, NY — An exciting growth area within fintech is the growing number of services designed to help small businesses gain better insight into their finances.
The latest contribution comes from Enigma, a data science company that provides comprehensive intelligence about every U.S. business’s financial health and identity. At this week’s Fintech Nexus conference in New York City, they announced new capabilities to help small businesses gain a more holistic view of their revenues.
Customers can now see the relationship between a business and its locations. Queries on an individual site or URL will display total card revenue data for all related locations of that business, whether the presence is physical or online. Enigma’s data can now be queried with a URL.
Feedback from those customers was a driving force in delivering these new capabilities, Enigma said in a statement. While some customers want to pinpoint the health of a single business location, others want a portfolio view of all related businesses.
“For our decision-making, it’s critical that we get the full picture of a multi-location business, including online revenue, in one view,” says Pieter Van Ispelen, VP of decision science at Divvy. “These new capabilities will be valuable for our team.”
Enigma can provide card revenues for 80–90% of U.S. card-accepting businesses. The business hierarchies and URL matching features join the growing list of recent product enhancements and releases, like the newly available Discover and Enrich products for marketing and sales teams.
“Our data product is a combination of unique data partnerships and a standard set of evaluation processes, “says Charles Zhu, VP of product at Enigma. “We are continuously improving those processes and always looking for new data sources to deliver a product with accuracy, quality, and coverage that keep getting better.”
Tony is a long-time contributor in the fintech and alt-fi spaces. A two-time LendIt Journalist of the Year nominee and winner in 2018, Tony has written more than 2,000 original articles on the blockchain, peer-to-peer lending, crowdfunding, and emerging technologies over the past seven years. He has hosted panels at LendIt, the CfPA Summit, and DECENT's Unchained, a blockchain exposition in Hong Kong. Email Tony here.