Enigma, a data science company, has partnered with Noble, a FinTech infrastructure company that powers verification, credit underwriting, and decisioning for companies embedding financial services.
Enigma and Noble will provide companies with a clear picture of the financial health of small and medium businesses, with the vision of enabling faster, more accurate underwriting decisions.
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.
Noble’s platform enables companies to manage risk at any step of the customer journey for any financial product, from onboarding, to underwriting and decisioning, to ongoing monitoring.
The company’s engine gives customers the freedom to create, edit and launch complex financial products without the need for long deployment processes or heavy development resources. Now, Noble customers will be able to access Enigma data to power and improve their credit decisioning models.
Charles Zhu, VP of Product at Enigma, said, “Our partnership with Noble demonstrates Enigma’s commitment to providing the most timely, accurate financial health data about small and medium businesses to power credit risk decisioning. Noble’s customers will now be able to build best-in-class credit solutions with access to unique data including revenues, revenue growth rates, and other financial health data.”
Tomer Biger, co-founder and CEO of Noble, added, “Noble’s mission is to empower companies to build and deploy complex financial products more easily. Since data lies at the core of decisioning, its integral we make it more accessible to our clients. Our partnership with Enigma furthers this goal by giving our clients direct access to Enigma’s intelligence that has the potential to deeply enrich their decisioning, help them better assess the financial health of customers, and continue to deliver an exceptional customer experience to end users.”
Earlier this year, Munich Re has partnered with InsurTech Paperless Solutions Group (PSG) to launch a risk assessment and e-application solutions to transform life insurance underwriting.
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