# Enigma — LLMs Reference (Full)

> Auto-generated from Enigma content collections. Last updated at build time.

## Products

Enigma builds foundational business data infrastructure for fintechs, lenders, payment processors, and banks.

- **KYB & Onboarding** — Automated business verification using government registration data, EIN validation, beneficial ownership, and watchlist screening. Reduces manual review, eliminates application drop-off. [Learn more](https://www.enigma.com/solutions/onboarding-and-kyb)
- **Entity Resolution / Identity Graph** — Links brands, DBAs, operating locations, and legal entities into unified business records. Core technology powering all Enigma products. [Learn more](https://www.enigma.com/data)
- **Payment Risk & Underwriting** — Merchant insights powered by 750M+ anonymized cards and 30B+ annual transactions. Supports underwriting, fraud prevention, and portfolio monitoring. [Learn more](https://www.enigma.com/solutions/payment-risk-and-underwriting)
- **GTM Solutions** — Sales and marketing data for ICP definition, lead enrichment, and prospect discovery using revenue signals and growth indicators. [Learn more](https://www.enigma.com/solutions/gtm-solutions)
- **Customer & Transaction Screening** — Sanctions screening (OFAC), adverse media, and risk screening for businesses and persons. [Learn more](https://www.enigma.com/solutions/customer-and-transaction-screening)
- **Data API** — GraphQL API for programmatic access to business intelligence: brands, locations, legal entities, card transaction data. [Learn more](https://www.enigma.com/data)

## Blog Posts

211 posts covering KYB, payments, GTM, SMB data, engineering, and compliance.

### [Why the solution isn't checking more often, it's having live signals](https://www.enigma.com/resources/blog/live-signals-not-more-checks)
Point-in-time KYB catches fabricated businesses at onboarding, but has no way to tell you when a real, verified business changes after you approved it.
*Published: 2026-09-02*

### [Game of Threats](https://www.enigma.com/resources/blog/enigma-newsletter-game-of-threats)
KYB updates from the team: a 5% lift in automated verifications, verification tiers surfaced in Console, and PEP screening sourced from primary government records.
*Published: 2026-08-13*

### [Watchlist coverage now includes Politically Exposed Persons](https://www.enigma.com/resources/blog/pep-watchlist-coverage)
Screen Politically Exposed Persons (PEP) alongside sanctions lists, sourced from government records across the US, Canada, Europe, Asia, and the Middle East
*Published: 2026-07-31*

### [Your Vendor's Last Invoice Might Have Come From Someone Else](https://www.enigma.com/resources/blog/your-vendors-last-invoice-might-have-come-from-someone-else)
Enigma and Proof are launching Business Certificates, verified credentials that bind live business identity to wires, vendor changes, and AI agent transactions.
*Published: 2026-07-09*

### [How Much Is a Verification Worth?](https://www.enigma.com/resources/blog/enigma-newsletter-how-much-is-a-verification-worth)
What $725 million in annual cargo theft exposes about the gap between a registered business and one that really operates.
*Published: 2026-06-18*

### [Enigma Newsletter: How to Sue a Company That Doesn't Even Exist](https://www.enigma.com/resources/blog/enigma-newsletter-americas-most-sued-companies-dont-exist)
Coveted IP empires have spent five years suing online storefronts that were never registered US businesses. We pulled 1,197 defendants from federal dockets to examine what KYB systems do when there's no filing to check.
*Published: 2026-06-04*

### [Proof and Enigma Partner to Launch a Verified Business Identity and Authorization Layer for U.S. Businesses](https://www.enigma.com/resources/blog/proof-and-enigma-verified-business-identity-authorization-layer-for-businesses)
Every business needs to claim its identity online. We built the infrastructure to do it.
*Published: 2026-05-27*

### [Enigma Newsletter: Business Identity for Agents](https://www.enigma.com/resources/blog/enigma-newsletter-business-identity-for-agents)
AI agents are increasingly asked to verify businesses with data that just doesn't live in their model. Primary state filings, beneficial-ownership submissions, professional licenses, sanctions records: all of it lives in primary sources the model has never seen, changing on cadences model retraining can't track. This post walks through the reference layer we've been building for every KYB workflow, and looks at three ways of delivering that layer to agents in the field: our MCP server, our KYB Compliance Agent on Google Cloud, and Parallel's Index, the new model for compensating data providers by their actual contribution to grounding the answer given by an agent.
*Published: 2026-05-21*

### [Enigma and Parallel: What Comes Next for Business Identity](https://www.enigma.com/resources/blog/enigma-and-parallel-what-comes-next-for-business-identity)
Enigma's business identity data is now part of Parallel.ai's Index, a platform that measures and surfaces the contribution data providers make at the moment of agent inference.
*Published: 2026-05-19*

### [What Shipped This Spring](https://www.enigma.com/resources/blog/what-shipped-this-spring-2026)
Entity resolution, person graph, EIN coverage, smarter search, and new tools for builders. A roundup of everything that shipped this cycle.
*Published: 2026-05-15*

### [Enigma KYB Agent on Google Cloud](https://www.enigma.com/resources/blog/enigma-kyb-agent-on-google-cloud)
The Enigma KYB Agent runs on Google Cloud's Vertex AI Agent Engine, pairing Gemini Flash with Enigma's verified business identity graph for compliance teams.
*Published: 2026-05-12*

### [Enigma Newsletter: Anatomy of a Shell Company](https://www.enigma.com/resources/blog/enigma-newsletter-anatomy-of-a-shell-company)
A standard KYB check confirms a business is on record. It can't tell you whether the business does anything in the world. Network analysis can.
*Published: 2026-05-07*

### [Can Business Data Predict March Madness?](https://www.enigma.com/resources/blog/can-business-data-predict-march-madness)
We ran 590 business metrics against 10 years of March Madness games, and the ratio of divorce lawyers to wedding venues predicted winners 62% of the time.
*Published: 2026-04-09*

### [Enigma Government Archive](https://www.enigma.com/resources/blog/enigma-government-archive)
Introducing Gov Archive — billions of government records across thousands of agencies, anchored in verified business identity.
*Published: 2026-03-26*

### [Enigma Newsletter: Wyoming's Corporate Boom](https://www.enigma.com/resources/blog/enigma-newsletter-wyomings-corporate-boom)
Wyoming's corporate formation volume grew 7.9x in a decade, and its thin public records now pose a real challenge for compliance teams doing KYB.
*Published: 2026-03-12*

### [Enigma Newsletter: No Branches, No Verification, No Problem](https://www.enigma.com/resources/blog/enigma-newsletter-no-branches-no-verification-no-problem)
941 money services businesses registered with FinCEN using one Denver mailbox, and the federal government does not verify a word of the information they submit.
*Published: 2026-02-26*

### [Enigma Newsletter: The Drug Testing Lab Industry](https://www.enigma.com/resources/blog/enigma-newsletter-the-drug-testing-lab-industry)
Where you live may matter more than what you do when it comes to workplace drug testing: the South has 2.5x more labs per capita than the Northeast.
*Published: 2026-02-12*

### [When Compliance is Skin Deep](https://www.enigma.com/resources/blog/enigma-newsletter-when-compliance-is-skin-deep)
This week Enigma investigated the $3.5 billion med spa industry — where Botox, lasers, and IV drips are often administered under the same regulatory framework as manicures. You might be surprised to learn who’s actually checking the credentials at your local “wellness” clinic.
*Published: 2026-01-29*

### [Filed Under Fiction](https://www.enigma.com/resources/blog/filed-under-fiction)
Enigma explores the bizarre, largely unvalidated world of state business registrations, where official corporate records can list celebrity names, fictional characters, and obvious placeholders as officers without being challenged. Drawing on an analysis of 103+ million registrations nationwide, the piece highlights real filings like “Lemonade Lagoon” in Utah and other absurd examples that states accepted as legitimate. Enigma then connects the humor to a serious compliance risk: “official” registry data is often self-reported and unverified, so KYB teams must cross-check filings against real operating signals. The article’s key finding is that 98.7% of the suspicious-officer entities show no evidence of actual business activity.
*Published: 2026-01-15*

### [2025: The Year Enigma Went Back to Our Future](https://www.enigma.com/resources/blog/2025-year-in-review)
We rebuilt Enigma from its very core in 2025 to provide trusted business data for all intelligence, just like we had planned at the very beginning.
*Published: 2025-12-23*

### [The Holiday Spending Cycle ](https://www.enigma.com/resources/blog/the-holiday-spending-cycle)
Enigma’s analysis reveals that America’s “holiday season” isn’t a single tidal wave—it’s a cycle with winners, losers, and an inevitable reset. Drawing on transaction data from 410,001 holiday-sensitive businesses across 105 industries (2020–2024), the piece shows how December delivers dramatic surges for gift-driven retailers like electronics, jewelry, and specialty shops, even as hospitality and entertainment often slump as consumers stay close to home. Then comes the real twist: January and February bring a broad post-holiday reckoning that hits both groups, wiping out December gains for many retailers while lagging sectors fight to recover. Layer in sharp geographic differences—from states with massive holiday lift to those with steadier year-round spend—and a clearer picture emerges: the economics of seasonal spending are more predictable, more bifurcated, and more actionable than the holiday hype suggests.
*Published: 2025-12-23*

### [Match Points: A Field Guide to Business Identity ](https://www.enigma.com/resources/blog/enigma-newsletter-matchpoints-a-field-guide-to-business-identity)
This piece walks through the real-world patterns behind that gap: paper-only entities, maildrop and registered-agent address clusters, “zombie” companies that suddenly spring to life, rapid entity proliferation, and brand/storefront names that don’t match the legal entity you’re onboarding. Then it lays out the practical signals that make KYB decisions faster and defensible—operating evidence, address intelligence, contact-graph clues, and explainable confidence tiers that tell you why something should escalate.
*Published: 2025-12-18*

### [Peak Revenue Month: Why Payments Companies Are Seeing 2x Response Rates With Temporal Targeting](https://www.enigma.com/resources/blog/peak-revenue-month)
Payments companies are seeing up to 2x response rates by aligning merchant outreach to each business’s real planning window, not just their industry or size. This post explains how Enigma’s new Peak Revenue Month attribute uses transaction data to power temporal targeting you can plug directly into campaigns, workflows, and decisioning.
*Published: 2025-12-15*

### [Lifecycles of Vice Merchants](https://www.enigma.com/resources/blog/enigma-newsletter-lifecycles-of-vice-merchants)
Enigma analyzes 853,000+ U.S. vice business registrations to reveal why some alcohol, tobacco, and gambling businesses endure while others fail quickly. The article shows that business model structure—capital intensity, distribution roles, and regulatory moats—matters far more for survival than the simple fact of selling “recession-proof” vice products.
*Published: 2025-12-11*

### [The New Enigma KYB: More Automatic Approvals, Fewer Manual Reviews](https://www.enigma.com/resources/blog/announcement-new-enigma-kyb-api)
The New Enigma KYB: More Automatic Approvals, Fewer Manual Reviews
*Published: 2025-12-09*

### [The Geography of Corporate America](https://www.enigma.com/resources/blog/enigma-newsletter-geography-of-corporate-america)
Enigma’s new analysis of U.S. business registrations reveals how a tiny network of registered-agent addresses “houses” millions of companies—and why separating legal mailboxes from real operating locations is critical for BI, KYB, and risk.
*Published: 2025-11-25*

### [Slice Slice Baby](https://www.enigma.com/resources/blog/enigma-newsletter-whats-the-value-of-a-viral-pizza-review)
Viral media doesn’t just shape opinions, it moves markets. Enigma’s analysis of 2,000 OneBite pizza reviews shows how online ratings drive real-world revenue, customer traffic, and longevity.
*Published: 2025-11-13*

### [The Michelin Effect](https://www.enigma.com/resources/blog/enigma-newsletter-the-michelin-effect)
Michelin stars promise prestige, but our data shows the financial payoff is smaller than you’d think. Here’s what 1,700+ restaurants reveal about the economics of fine dining. 
*Published: 2025-10-30*

### [Spirits of Retail Past](https://www.enigma.com/resources/blog/enigma-newsletter-spirits-of-retail-past-oct-2025)
For today’s dive into American commerce, we’re looking at how seasonal pop-up stores have become a kind of zombie feeding on dead real estate.
*Published: 2025-10-09*

### [The Hidden Economics of Campus Life, Part 2](https://www.enigma.com/resources/blog/the-hidden-economics-of-campus-life-part-2)
Discover the hidden economics of campus life, see how Stanford leads $937M in spending, UCLA dominates parking, and private schools outpace publics.
*Published: 2025-09-25*

### [KYB vs. KYC: Two Different Paths to Trust in Customer Onboarding](https://www.enigma.com/resources/blog/kyb-vs-kyc-what-to-know)
Learn the key differences between KYB (Know Your Business) and KYC (Know Your Customer), why they matter for compliance, and how companies apply them.
*Published: 2025-09-22*

### [The Hidden Economics of Campus Life, Part 1](https://www.enigma.com/resources/blog/the-hidden-economics-of-campus-life)
Enigma Newsletter: The Hidden Economics of Campus Life, Part 1 [September 2025]
*Published: 2025-09-12*

### [Anchor your AI with Ground Truth Business Data](https://www.enigma.com/resources/blog/mcp-anchor-your-ai-with-ground-truth-business-data)
Anchor your AI with Ground Truth Business Data
*Published: 2025-08-29*

### [Sole Proprietorships, Micro-Businesses, and KYB: Why Traditional Verification Fails 82% of U.S. Businesses ](https://www.enigma.com/resources/blog/sole-proprietorships-micro-business-kyb)
Sole Proprietorships, Micro-Businesses, and KYB: Why Traditional Verification Fails 82% of U.S. Businesses 
*Published: 2025-08-14*

### [The Mystical-Industrial Complex](https://www.enigma.com/resources/blog/enigma-newsletter-the-mystical-industrial-complex-july-2025)
Enigma Newsletter: The Mystical-Industrial Complex [July 2025]
*Published: 2025-07-24*

### [Announcing the New Enigma Platform, Re-Architected for Programmatic Intelligence](https://www.enigma.com/resources/blog/announcing-the-new-enigma-platform-re-architected-for-programmatic-intelligence)
Announcing the New Enigma Platform, Re-Architected for Programmatic Intelligence
*Published: 2025-07-09*

### [Data Built for a Programmatic World](https://www.enigma.com/resources/blog/data-for-a-programmatic-world)
Data Built for a Programmatic World
*Published: 2025-07-09*

### [KYB vs AI Fraud](https://www.enigma.com/resources/blog/kyb-ai-fraud)
FinCEN’s November 2024 alert underscores a clear reality seen across industries: fraud powered by generative AI and synthetic media is not just a threat to individuals — it’s rapidly evolving in the business domain. Enigma's Multi-Source KYB is built to combat this trend.
*Published: 2025-06-13*

### [The "Do Not Call" List is Working](https://www.enigma.com/resources/blog/do-not-call)
You might not have noticed, but the Do Not Call list is quietly been working really well
*Published: 2025-06-05*

### [Rebuilding the Foundation: Our Journey to Create Enigma graph-model-1](https://www.enigma.com/resources/blog/trusted-business-data)
CTO Ryan Green Discusses: The decision to rebuild a product from the ground up is a high risk/ high reward undertaking. Not only is it expensive and stressful but most rebuilds fail. After an intense twelve-month build cycle, I'm reflecting on why we made this decision and what we've learned along the way.
*Published: 2025-05-28*

### [Rise of Takeout and Delivery](https://www.enigma.com/resources/blog/enigma-newsletter-rise-of-takeout-and-delivery-may-2025)
How takeout and delivery orders have skyrocketed post covid-19 
*Published: 2025-05-23*

### [Introducing Social Security Number (SSN) Verification: Comprehensive KYB for More Small and Micro Businesses](https://www.enigma.com/resources/blog/ssn-verification)
From gig economy workers to digital marketing influencers to your local bodega, verifying a growing range of small businesses is essential to modern KYB.
*Published: 2025-05-20*

### [Ensuring Unparalleled Data Quality in Enigma's graph-model-1](https://www.enigma.com/resources/blog/ensuring-unparalleled-data-quality-in-enigmas-graph-model-1)
Enigma's graph-model-1 represents the most comprehensive, accurate, and expressive representation of the U.S. business landscape available today.
*Published: 2025-05-14*

### [New business survival: Texas vs California](https://www.enigma.com/resources/blog/new-business-survival-texas-vs-california)
New business survival: Texas vs California
*Published: 2025-05-06*

### [Inside the Shopify Premium](https://www.enigma.com/resources/blog/enigma-newsletter-inside-the-shopify-premium-april-2025)
Enigma's monthly newsletter investigates the nature of Shopify by examining the revenue of businesses using Shopify.
*Published: 2025-04-03*

### [Tracker - Our New Interactive App Powered by Enigma graph-model-1](https://www.enigma.com/resources/blog/tracker-our-new-interactive-app-powered-by-enigma-graph-model-1)
See businesses everywhere around you with Enigma Tracker, a new enigma app powered by graph-model-1.
*Published: 2025-03-31*

### [How Enigma Uses Embeddings to Power Business Discovery](https://www.enigma.com/resources/blog/how-enigma-uses-embeddings-to-power-business-discovery)
Discover how Enigma uses embeddings to transform business discovery—turning natural language descriptions into real, viable leads through semantic search and vector similarity.
*Published: 2025-03-28*

### [Announcement: Enigma graph-model-1 (Research Preview)](https://www.enigma.com/resources/blog/announcement-enigma-graph-model-1-research-preview)
Enigma introduces graph-model-1, the most comprehensive, accurate, and expressive business data set
*Published: 2025-03-11*

### [Tracking NYC's Weed Bodegas](https://www.enigma.com/resources/blog/enigma-newsletter-tracking-nycs-weed-bodegas-march-2025)
Enigma's monthly newsletter investigates the rise of grey market cannabis dispensaries in NYC, shows for the first time where they were located, and what the crackdown on grey market retail did to the revenue of licensed retail.
*Published: 2025-03-06*

### [The Ozempic Craze - Weight Loss Industry Same Month YoY Revenue Growth](https://www.enigma.com/resources/blog/chart-the-ozempic-craze-weight-loss-industry-same-month-yoy-revenue-growth)
The Ozempic Craze - Weight Loss Industry Same Month YoY Revenue Growth
*Published: 2024-11-01*

### [Hicham Oudghiri & Karen Mills on Fintech and Small Business Lending](https://www.enigma.com/resources/blog/a-discussion-between-enigma-ceo-hicham-oudghiri-former-sba-administrator-karen-mills)
Enigma CEO Hicham Oudghiri and Former SBA Administrator Karen Mills discuss the role data and technology plays in the SMB economy, how the regulatory and compliance landscape for SMBS has shifted, and more.
*Published: 2024-10-31*

### [The State of Small Business Today: An Interview Between Karen Mills and Diana Ransom](https://www.enigma.com/resources/blog/former-sba-administrator-karen-mills-and-inc-executive-editor-diana-ransom-interview)
Diana Ransom and Karen Mills discuss Mills' new book on the transformation of small business lending through technology, the challenges and opportunities in this complex market, and the need for smart regulation to address issues like data ownership and transparency. 
*Published: 2024-10-30*

### [Data Driven Insights Into The SMB Restaurant Landscape](https://www.enigma.com/resources/blog/data-driven-insights-into-the-smb-restaurant-landscape)
Using our card panel data of over 40% of transactions in the US – including a longtail of small and medium sized restaurants, Enigma wanted to examine the state of the restaurant industry today. 
*Published: 2024-10-25*

### [The Ozempic Craze - Largest Price Increase in Beauty and Personal Care](https://www.enigma.com/resources/blog/chart-the-ozempic-craze-largest-price-increase-in-beauty-and-personal-care)
The Ozempic Craze - Largest Price Increase in Beauty and Personal Care
*Published: 2024-10-24*

### [Enigma Product Updates: Q3 2024](https://www.enigma.com/resources/blog/enigma-product-updates-q3-2024)
Learn more about how we’re improving our KYB product with TIN matching, as well as helping our sales and marketing customers better understand online and offline revenue splits of the businesses they’re targeting.
*Published: 2024-10-24*

### [Beauty and Personal Care - Digitalization of Beauty Services](https://www.enigma.com/resources/blog/chart-beauty-and-personal-care-digitalization-of-beauty-services)
Beauty and Personal Care - Digitalization of Beauty Services
*Published: 2024-10-14*

### [Beauty and Personal Care - Beauty Salons Monthly Opening and Closures](https://www.enigma.com/resources/blog/chart-beauty-and-personal-care-beauty-salons-monthly-opening-and-closures)
Beauty and Personal Care - Beauty Salons Monthly Opening and Closures
*Published: 2024-10-08*

### [Beauty and Personal Care - Personal Care Industry Revenue](https://www.enigma.com/resources/blog/chart-beauty-and-personal-care-personal-care-industry-revenue)
Beauty and Personal Care - Personal Care Industry Revenue
*Published: 2024-10-03*

### [The Changing Financial Crime Landscape Part 2: TikTok Scams, Alternative Data, and Better KYB](https://www.enigma.com/resources/blog/better-kyb)
Enigma chatted with Luke Raven – an expert in AML, compliance, and financial crimes – about how financial crime is changing, the rise of online big butchering schemes, and the efficacy of fines on FIs to combat financial crime. 
*Published: 2024-09-30*

### [The Changing Financial Crime Landscape Part 1: Online Crime, Rising Fines, and Data Breaches](https://www.enigma.com/resources/blog/the-changing-financial-crime-landscape-part-1-online-crime-rising-fines-and-data-breaches)
Enigma chatted with Luke Raven – an expert in AML, compliance, and financial crimes – about how financial crime is changing, the rise of online big butchering schemes, and the efficacy of fines on FIs to combat financial crime. 
*Published: 2024-09-30*

### [Beauty and Personal Care - Annual Spend on Beauty Services, by Person](https://www.enigma.com/resources/blog/chart-beauty-and-personal-care-annual-spend-on-beauty-services-by-person)
Annual beauty spending per person varies greatly by state.
*Published: 2024-09-18*

### [Beauty and Personal Care - Competitive Penetration of Salons by State](https://www.enigma.com/resources/blog/chart-beauty-and-personal-care-competitive-penetration-of-salons-by-state)
Beauty and Personal Care - Competitive Penetration of Salons by State
*Published: 2024-09-11*

### [Beauty and Personal Care - Beauty Services Average Ticket Size](https://www.enigma.com/resources/blog/chart-beauty-and-personal-care-beauty-services-average-ticket-size)
Beauty and Personal Care - Beauty Services Average Ticket Size
*Published: 2024-09-05*

### [Enigma Product Updates: Q2 2024](https://www.enigma.com/resources/blog/enigma-product-updates-q2-2024)
Learn more about how we’re improving our KYB product with TIN matching, as well as helping our sales and marketing customers better understand online and offline revenue splits of the businesses they’re targeting.
*Published: 2024-08-01*

### [Retail - 2023 US Revenue Growth](https://www.enigma.com/resources/blog/chart-retail-2023-us-revenue-growth)
Retail - 2023 US Revenue Growth
*Published: 2024-07-16*

### [Retail - Top Growing Retail Subcategories](https://www.enigma.com/resources/blog/chart-retail-top-growing-retail-subcategories)
Retail - Top Growing Retail Subcategories
*Published: 2024-07-09*

### [Retail - 2023 YoY Organic Grocery Revenue Growth](https://www.enigma.com/resources/blog/chart-retail-2023-yoy-organic-grocery-revenue-growth)
Retail - 2023 YoY Organic Grocery Revenue Growth
*Published: 2024-05-14*

### [Retail - % of Category-Specific Businesses with E-Commerce Channel](https://www.enigma.com/resources/blog/chart-retail-most-online-and-offline-clothing-categories)
Retail - % of Category-Specific Businesses with E-Commerce Channel
*Published: 2024-05-14*

### [Retail - San Francisco Retail Closure and Shoplifting Rates](https://www.enigma.com/resources/blog/chart-retail-san-francisco-retail-closure-and-shoplifting-rates)
Retail - San Francisco Retail Closure and Shoplifting Rates
*Published: 2024-05-14*

### [Retail - Top Payment Processor For Selected Retail Area](https://www.enigma.com/resources/blog/chart-top-payment-processor-for-selected-retail-area)
Retail - Top Payment Processor For Selected Retail Area
*Published: 2024-05-14*

### [Introducing Enigma Risk and Underwriting](https://www.enigma.com/resources/blog/risk-and-underwriting)
 The results with new customers and evaluations are clear: Enigma can reduce delinquencies and card processing credit risk events by 30-70%, while also improving collections and recoveries
*Published: 2024-05-07*

### [Not So Friendly Fraud: The Growing Chargeback Problem](https://www.enigma.com/resources/blog/not-so-friendly-fraud-the-growing-chargeback-problem)
Enigma chatted with Ashley Isenberg, leading payments and fintech advisor and former Finix alum, about how friendly fraud affects payment processors, why rates of friendly fraud might be rising, and how Enigma’s data might be able to solve the problem.
*Published: 2024-04-23*

### [Onboarding & KYB Product Updates: Q1 2024](https://www.enigma.com/resources/blog/onboarding-kyb-product-updates-q1-2024)
 In Q1, we focused on making onboarding and integration of our KYB product easier via a Quickstart Guide on our Console as well as Tasks, an easily configured set of policy rules that meet your specific compliance requirements.
*Published: 2024-04-09*

### [Sales & Marketing Product Updates: Q1 2024](https://www.enigma.com/resources/blog/sales-marketing-product-updates-q1-2024)
We're excited to share more about our newly launched website scraping system. We are now able to scrape the content of all the business websites stored in our database.
*Published: 2024-04-09*

### [Restaurants - Revenue Growth Since 2017](https://www.enigma.com/resources/blog/chart-restaurants-revenue-growth-since-2017)
Restaurants - Revenue Growth Since 2017
*Published: 2024-03-19*

### [Restaurants - Businesses % vs. GPV %](https://www.enigma.com/resources/blog/chart-restaurants-businesses-vs-gpv)
Restaurants - Businesses % vs. GPV %
*Published: 2024-03-12*

### [Restaurants - Monthly YoY Revenue Growth](https://www.enigma.com/resources/blog/chart-restaurants-monthly-yoy-revenue-growth)
Restaurants - Monthly YoY Revenue Growth
*Published: 2024-03-12*

### [Restaurants - Revenue by Order Value Bucket](https://www.enigma.com/resources/blog/chart-restaurants-revenue-by-order-value-bucket)
Restaurants - Revenue by Order Value Bucket
*Published: 2024-03-12*

### [Restaurants - The Infatuation Effect](https://www.enigma.com/resources/blog/chart-restaurants-the-infatuation-effect)
Restaurants - The Infatuation Effect
*Published: 2024-03-12*

### [Restaurants - What's Cool to Drink](https://www.enigma.com/resources/blog/chart-restaurants-whats-cool-to-drink)
Restaurants - What's Cool to Drink
*Published: 2024-03-12*

### [Introducing Enigma Customer and Transaction Screening](https://www.enigma.com/resources/blog/introducing-enigma-customer-and-transaction-screening)
Enigma's screening service is built for regulated institutions that have a massive quantity of customers and transactions that need to be screened. Cloud-based and API-enabled, our service seamlessly integrates with the watchlists and case manager of your choice.
*Published: 2024-03-05*

### [Onboarding & KYB Product Updates: Q4 2023](https://www.enigma.com/resources/blog/onboarding-kyb-product-updates-q4-2023-1)
As compliance rules changed and regulatory fines rose in Q4 2023, we released a Know Your Business (KYB) solution that solved the challenges like these that our customers were facing. 
*Published: 2024-01-26*

### [How FinCEN’s New BOI Rule Might Affect FIs](https://www.enigma.com/resources/blog/how-fincens-new-boi-rule-might-affect-fis)
On Monday, FinCEN mandated that some businesses must report their beneficial ownership information to the U.S. government. Learn what this might mean for financial institutions' AML and KYB processes.
*Published: 2024-01-02*

### [A/B Test Results Show That Enigma Data Is Helping Banks Grow 1.4x More Efficiently](https://www.enigma.com/resources/blog/enigma-data-helping-banks-grow-more-efficiently)
Enigma data is helping banks more efficiently reach their desired targets within marketing campaigns.
*Published: 2023-12-15*

### [A/B Test Results Show That Enigma Is Helping Payments Providers Grow 3x More Efficiently](https://www.enigma.com/resources/blog/enigma-helping-payments-providers-grow-3x-more-efficiently)
With the help of marketing agencies, we asked bank and payments provider partners to A/B test the impact of using Enigma data in sales and marketing campaigns.
*Published: 2023-12-12*

### [Controlling for Bias: How We're Strengthening Our Card Revenue Estimates and Making Them Even More Accurate](https://www.enigma.com/resources/blog/strengthening-card-revenue-estimates-and-improving-accuracy)
At Enigma, we're continuously updating our model to strengthen card revenue estimates for private businesses across the United States 
*Published: 2023-12-01*

### [Using Enigma KYB for Business Identity Verification](https://www.enigma.com/resources/blog/kyb-for-business-verification)
Announcing the launch of Enigma KYB, a solution built to help you verify business identity immediately and reduce onboarding costs via instant verification of Secretary of State (SoS) filings, high-risk activities classification, and OFAC screening.
*Published: 2023-10-03*

### [How Sales & Marketing Teams Can Target & Acquire the Right SMB Customers](https://www.enigma.com/resources/blog/how-sales-marketing-teams-can-target-acquire-the-right-smb-customers)
We'll dive in to how sales and marketing teams can use Enigma data to level-up their efforts and more effectively target and acquire SMB customers.
*Published: 2023-08-17*

### [How to Build Your Ideal Customer Onboarding Process](https://www.enigma.com/resources/blog/how-to-build-your-ideal-customer-onboarding-process)
Enigma’s latest blog post helps you sort out your values when it comes to KYB and discusses the solutions that might work for you.
*Published: 2023-08-15*

### [What is KYB and How Do You Meet KYB Requirements?](https://www.enigma.com/resources/blog/what-is-kyb-and-how-do-you-meet-kyb-requirements)
Know Your Business (KYB) refers to a financial institution's duty to verify a company’s and company owner’s identity before doing business with them. 
*Published: 2023-08-08*

### [Dev/Stage/Prod is the Wrong Pattern for Data Pipelines](https://www.enigma.com/resources/blog/dev-stage-prod-is-the-wrong-pattern-for-data-pipelines)
Pipeline Sandboxes are a fix to common problems found in Dev/Stage/Prod systems
*Published: 2023-08-02*

### [Why B2B Marketing Data Platforms Fall Short When Targeting SMBs](https://www.enigma.com/resources/blog/why-b2b-marketing-data-platforms-fall-short-when-targeting-smbs)
Enigma’s newest product – Sales and Marketing – is a comprehensive data platform to help you target, acquire, and up-sell SMBs in your ideal customer profile.
*Published: 2023-05-31*

### [Four Things We Learned from Author and Former-SBA-Administrator Karen Mills About SMBs](https://www.enigma.com/resources/blog/four-things-we-learned-from-author-and-former-sba-administrator-karen-mills-about-smbs)
Karen Mills on the opportunities and challenges in the small-and-medium-sized business (SMB) economy.
*Published: 2023-05-30*

### [How Alternative Data Can Improve Credit Risk Decisioning](https://www.enigma.com/resources/blog/how-alternative-data-can-improve-credit-risk-decisioning)
Charles Zhu, VP of Product at Enigma, joined Ziv Shabat, VP of Analytics at Noble, in a conversation on the key challenges that credit teams face today when underwriting small-and-medium-sized businesses (SMBs).
*Published: 2023-05-30*

### [Introducing Enigma Sales and Marketing](https://www.enigma.com/resources/blog/introducing-enigma-sales-and-marketing)
Announcing the launch of Sales & Marketing, a data platform built for financial services, merchant services, and vertical SaaS companies. Improve your SMB customer acquisition journey with near-time revenue and payment processor technographics.
*Published: 2023-05-10*

### [How Data Can Help Sales, Customer Success, and Marketing Teams Manage SMB Accounts](https://www.enigma.com/resources/blog/how-data-can-help-sales-customer-success-and-marketing-teams-manage-smb-accounts)
Sales and marketing teams at financial services face many challenges in SMB account management, from a lack of data on when a customer might churn to not enough info on key trigger events in a customer’s lifecycle. Enigma looks at how data can help.
*Published: 2023-05-09*

### [How Data Can Serve Inbound and Outbound Marketers Targeting SMBs](https://www.enigma.com/resources/blog/how-data-can-serve-inbound-and-outbound-marketers-targeting-smbs)
Enigma dives into how data can help solve the challenges -- from junk signups to outdated contact info -- that financial services growth teams face in inbound and outbound marketing.
*Published: 2023-05-08*

### [Getting a Clear View of Revenues at Seasonal Businesses](https://www.enigma.com/resources/blog/getting-a-clear-view-of-revenues-at-seasonal-businesses)
Many business lenders ask for three months of bank statements. The result? Lenders face a high level of uncertainty and risk when underwriting seasonal businesses. Alternative data can help provide a more accurate view of annual revenue and seasonality.
*Published: 2023-03-30*

### [2023 SMB Data Landscape Report](https://www.enigma.com/resources/blog/2023-smb-data-landscape-report)
Introducing our inaugural SMB Data Landscape report. Covering 26 companies, this report outlines leading providers of data about small and medium businesses for B2SMB companies. 
*Published: 2023-03-26*

### [Q&A: Sarah Burrows of Modern Sprout](https://www.enigma.com/resources/blog/q-a-sarah-burrows-of-modern-sprout)
In this Small Business Spotlight, we sat down with entrepreneur Sarah Burrows, co-founder of Modern Sprout, to discuss D2C vs. wholesale, the advantages of PO financing, and how to navigate periods of rapid growth.
*Published: 2023-03-15*

### [4 Ways Financial Institutions Can Leverage Data-Driven Marketing in 2023](https://www.enigma.com/resources/blog/4-ways-financial-institutions-can-leverage-data-driven-marketing-in-2023)
 Elissa Rodd of Deluxe’s FMCG shares insights on best practices for data-driven approaches to marketing to small businesses.
*Published: 2023-03-01*

### [How Payment Processors Can Gain Visibility Into Opportunity Size](https://www.enigma.com/resources/blog/how-payment-processors-can-gain-visibility-into-opportunity-size)
“Total opportunity size” (or share of wallet, share of spend, share of business, share of purchases – depending on the context) is key to expanding and prioritizing your existing customer accounts. Learn how to calculate it using total processing volumes.
*Published: 2023-02-17*

### [B2B Data Enrichment — Tools and Best Practices](https://www.enigma.com/resources/blog/b2b-data-enrichment-tools-and-best-practices)
To put your business and your prospecting efforts on the right path, you need consistent, reliable B2B data enrichment to ensure that you have the best information to target the most qualified leads with speed, clarity, and confidence.
*Published: 2023-02-02*

### [Entrepreneur Paige Graham on Growth, Seasonality & the Best Merchant Tools](https://www.enigma.com/resources/blog/entrepreneur-paige-graham-on-growth-seasonality-the-best-merchant-tools)
In this interview, founder Paige Graham of homegoods merchant Paige’s Candle Co. shares her small business lessons learned, best small business tools, and plans for small business growth.
*Published: 2022-12-27*

### [Recession Watch? 9 Insights on the Small Business Economy](https://www.enigma.com/resources/blog/recession-watch-9-insights-on-the-small-business-economy)
Experts from Accenture, Capital One, Enigma and Mastercard discuss small business performance in current market conditions, downturn signals they’re watching for, and why better data means we’re better positioned for the next recession. 
*Published: 2022-11-18*

### [Reducing Bias in Our Dataset with New Card Types](https://www.enigma.com/resources/blog/reducing-bias-in-our-dataset-with-new-card-types)
Enigma has added alternative card types like HSA and FSA cards, payroll cards, and gift cards into our dataset. This increases our total card panel size and reduces bias in our dataset as we build revenue estimates for U.S. businesses.
*Published: 2022-11-15*

### [Improving Our Research Velocity With lakeFS](https://www.enigma.com/resources/blog/improving-our-research-velocity-with-lakefs)
 Our CTO Ryan Green outlines how data branching with lakeFS is helping us to balance flexibility and robustness in our environment and ultimately improve our research velocity.
*Published: 2022-11-01*

### [Our Compensation Philosophy: Transparency, Uniformity, Fairness](https://www.enigma.com/resources/blog/our-compensation-philosophy-transparency-uniformity-fairness)
Built on principles of transparency, uniformity and fairness, Enigma’s performance management system centers on individuals’ impact and competencies. Read on to learn how that looks in practice.
*Published: 2022-10-28*

### [How Restaurant Awards Affect Revenue](https://www.enigma.com/resources/blog/how-restaurant-awards-affect-revenue)
Are awards and recognition a reliable signal of a restaurant’s success? We explored Enigma card revenue data for restaurants on the New York Times’ 2021 Restaurants List to find out how making the list affects performance. Here’s what we learned.
*Published: 2022-10-25*

### [Now: Search by URL to View Omnichannel Business Revenue](https://www.enigma.com/resources/blog/now-search-by-url-to-view-omnichannel-business-revenue)
With our latest product enhancement, you can view omnichannel revenues not only via API and batch processing, but in our web application too, where a simple UI means no technical integration needed. Plus: search for businesses with a URL. Read on.
*Published: 2022-09-27*

### [Every Type of Swipe: Launching Omnichannel Card Revenue](https://www.enigma.com/resources/blog/every-type-of-swipe-launching-omnichannel-card-revenue)
Small businesses grow across online and offline channels. Enigma now provides omnichannel card revenue so lenders and payment processors can assess clients based on total sales and decisions are based on complete financial trends.
*Published: 2022-09-06*

### [Enigma Revenue Data vs. Reported Revenue: Comparing 4 Brands](https://www.enigma.com/resources/blog/enigma-revenue-data-vs-reported-revenue-comparing-4-brands)
We compared publicly available revenue data with Enigma’s revenue data for several well-known brands to measure accuracy. Correlation was strong. Read on for the results and what they mean for teams who serve small businesses.
*Published: 2022-08-11*

### [Product Vision: Answering Any Question About a Small Business](https://www.enigma.com/resources/blog/product-vision-answering-any-question-about-a-small-business)
Enigma’s Chief Product Officer, Scott Steinberg, reflects on product evolution as we work toward our vision to become the one-stop platform for small business intelligence. Read on for product improvements to date and the expansions coming soon. 
*Published: 2022-08-01*

### [AUC is Worthless: Data Science in the Business World](https://www.enigma.com/resources/blog/auc-is-worthless-data-science-in-the-business-world)
In his session at PyData London 2022, Enigma senior data scientist Dillon Gardner discusses moving from academia to business and explains how a better understanding of business can lead to better data science outcomes. Watch the video.
*Published: 2022-07-26*

### [​​Industry + Revenue: Find Your Ideal Customers](https://www.enigma.com/resources/blog/industry-revenue-find-your-ideal-customers)
Enigma recently increased the accuracy and granularity of our Industries attribute, so that you can use both revenue and detailed industry data to build prospect lists that exactly match your ICP. Read on to learn more.
*Published: 2022-07-21*

### [Finding the Gems in Your Customer Base](https://www.enigma.com/resources/blog/finding-the-gems-in-your-customer-base)
While risk and underwriting teams monitor portfolios of small business customers to mitigate risk, they’re also positioned to spot opportunities: the growing “gems” in the customer base. Small business revenue data offers timely signals of growth. 
*Published: 2022-07-15*

### [Package Management: Exploring New Map Layers](https://www.enigma.com/resources/blog/package-management-exploring-new-map-layers)
In the third post of the package management series, Robert Grimm explores social and economic considerations related to package management.
*Published: 2022-06-23*

### [Package Management: Make Your Own Kind of Map](https://www.enigma.com/resources/blog/package-management-make-your-own-kind-of-map)
In the second post of his series on the complexities of package management, Robert Grimm shares how the team took inspiration from Go’s package manager and created a tool to validate merge requests across 34 repositories.
*Published: 2022-06-22*

### [Mapping the World of Package Management](https://www.enigma.com/resources/blog/mapping-the-world-of-package-management)
Our engineering team faced challenges with Python’s package manager, pip, and had a backlog of conflicted packages. In this first post of a series, Robert Grimm explores why package management has gotten so complex—through a journey of maps and dragons.
*Published: 2022-06-21*

### [A Conference in Quotes: Fintech Nexus 2022](https://www.enigma.com/resources/blog/a-conference-in-quotes-fintech-nexus-2022)
The 2022 Fintech Nexus conference agenda featured sessions on topics like small business lending, data, buy now pay later (BNPL), embedded finance, payments and innovation. Here’s a quick overview of the selection we caught, in 13 quotes. Read on.
*Published: 2022-06-10*

### [Introducing Business Hierarchies](https://www.enigma.com/resources/blog/introducing-business-hierarchies)
Introducing new features to provide a holistic view of a small business’s financial health: now, see relationships between a business and all locations, with an aggregated revenue figure. Plus, you can query Enigma’s data with a URL. Read on to learn more.
*Published: 2022-05-25*

### [What is CRM Data Enrichment? A Complete Guide](https://www.enigma.com/resources/blog/what-is-crm-data-enrichment-a-complete-guide)
What is CRM data enrichment and how can it help you with lead prospecting and customer acquisition?
*Published: 2022-05-23*

### [B2B Prospecting: Definition, Guide and Tools](https://www.enigma.com/resources/blog/b2b-prospecting-definition-guide-and-tools)
How B2B marketers can prospect small businesses
*Published: 2022-05-13*

### [A Pandemic Debut: Chicago’s Door 24 Wine Shop](https://www.enigma.com/resources/blog/a-pandemic-debut-chicagos-door-24-wine-shop)
Chicago’s Door 24 wine shop opened in 2021 – not a big year for grand openings. Small business owner Kevin Kenny discusses what he learned as a “pandemic entrepreneur” and challenges with access to capital.
*Published: 2022-04-29*

### [Introducing Enigma for Marketing & Sales](https://www.enigma.com/resources/blog/introducing-enigma-for-marketing-sales)
Introducing two new data products to help marketing and sales leaders understand your small business customers and prospects. With Discover, build customized lists of ideal customers. With Enrich, identify and prioritize top prospects in your database.
*Published: 2022-04-14*

### [Promoting Our Data Testing Paradigm with Internal Serverless Websites](https://www.enigma.com/resources/blog/promoting-our-data-testing-paradigm-with-internal-serverless-websites)
One technical team at Enigma needed to host their API testing paradigm internally. Another wanted to host internal static websites. Here’s how they worked together to develop, configure, and document one secure solution.
*Published: 2022-03-30*

### [5 Calibrations for Hybrid-Remote Work](https://www.enigma.com/resources/blog/5-calibrations-for-hybrid-remote-work)
Enigma’s chief technology officer, Ryan Green, reflects on what our engineering and data science teams have learned about communication in a hybrid-remote work culture and the 5 calibrations they’ve made to work better together.
*Published: 2022-03-15*

### [How Data Is Transforming the SMB Lending Landscape](https://www.enigma.com/resources/blog/how-data-is-transforming-the-smb-lending-landscape)
On Enigma’s recent panel, fintech and banking experts discussed the role of data in expanding small business lending. They covered SMB trends, the power of collaboration between banks and fintechs, and advice for lenders who want to use data to serve SMBs.
*Published: 2022-03-02*

### [A Guide to Card Transaction Data](https://www.enigma.com/resources/blog/a-guide-to-card-transaction-data)
Credit card transaction data can reveal valuable insights about the health of a business. We explain what this data is, where it comes from, and how financial services teams are using card transaction data to find an edge.
*Published: 2022-02-16*

### [Did NYC Bounce Back in 2021? Manhattan vs. Brooklyn](https://www.enigma.com/resources/blog/did-nyc-bounce-back-in-2021-manhattan-vs-brooklyn)
Though the pandemic persists, there are signs of economic recovery, even in hard-hit areas like New York City. Using our card transaction data, we analyzed how small businesses are performing by industry in Manhattan and Brooklyn.
*Published: 2022-02-03*

### [Retreat Recap: Technical Teams Convene in Savannah](https://www.enigma.com/resources/blog/retreat-recap-technical-teams-convene-in-savannah)
In Q4 2021, Enigma’s engineering and data science teams gathered safely for a retreat in Savannah, Georgia for fun, relationship-building and strategy. Here’s a recap.
*Published: 2022-01-26*

### [Meet Prime](https://www.enigma.com/resources/blog/meet-prime)
Enigma provides intelligence and context through our dataset. We stay attuned to where and how our data is used. We see community banking has a gap in automated intelligence. So Enigma will launch Prime—a lending as a service company for community banks.
*Published: 2022-01-12*

### [Q&A: Paige Graham of Paige’s Candle Co.](https://www.enigma.com/resources/blog/q-a-paige-graham-of-paiges-candle-co)
What does access to capital mean for today’s small businesses, and what’s it been like to operate through the pandemic? Paige’s Candle Company founder Paige Graham shares her perspective.
*Published: 2021-11-30*

### [Rise of the “Pandemic Entrepreneur”](https://www.enigma.com/resources/blog/rise-of-the-pandemic-entrepreneur)
Our recent State of the SMB Economy Report found that businesses launched in 2020 have a higher survival rate than those started in 2019. We explore this insight and speak with pandemic entrepreneur Greg Fischer of Burn Pit BBQ about his experience. 
*Published: 2021-11-17*

### [3 Tips for Adding Validation into Your Data Science Workflow](https://www.enigma.com/resources/blog/3-tips-for-adding-validation-into-your-data-science-workflow)
In data science, validation is how we check our work across huge datasets, confirming that our output is accurate and high quality. Read on for 3 lessons on refining your validation process.
*Published: 2021-10-15*

### [Let's Try Again: Making Retries Work With Cloud Services](https://www.enigma.com/resources/blog/lets-try-again-making-retries-work-with-cloud-services)
This article reviews the basics of retries as a failure handling strategy. We analyze a specific interaction, using AWS rate limits and its client library for Python as examples. Finally, we explore several other technical properties of effective retries.
*Published: 2021-10-12*

### [Enigma Haus - A New Look at the Future of Remote Working Collaboration](https://www.enigma.com/resources/blog/enigma-haus-a-new-look-at-the-future-of-remote-working-collaboration)
With a growing team increasingly spread across the country, Enigma is testing the concept of Enigma Haus - pop-up locations for employees to gather, designed to brainstorm in person, build relationships, and have fun.
*Published: 2021-09-07*

### [How to Identify a Future Unicorn (Before Your Competitors)](https://www.enigma.com/resources/blog/how-to-identify-a-future-unicorn-before-your-competitors)
Small business lenders and investors are all asking the same question: “How can I identify new opportunities without increasing risk?” To highlight how revenue growth data can help, we looked at two companies at two different growth stages.
*Published: 2021-08-12*

### [4 Insights About Small Business Performance During the Pandemic](https://www.enigma.com/resources/blog/4-insights-about-small-business-performance-during-the-pandemic)
As part of Enigma’s ongoing research into the health of the small business economy, we analyzed how small businesses of different sizes fared the pandemic. Explore our findings, based on the revenue and growth trends of a sample of 2.7 small businesses. 
*Published: 2021-08-03*

### [The Future of Work](https://www.enigma.com/resources/blog/the-future-of-work)
At Enigma, our hybrid-remote approach fundamentally puts our people first by giving them freedom of choice alongside the infrastructure they need. 
*Published: 2021-03-23*

### [Comparing SMB Health Across 50 U.S. Cities](https://www.enigma.com/resources/blog/comparing-smb-health-across-50-u-s-cities)
Across the country, 2020 was a difficult year for small businesses. But where were businesses hit hardest? At Enigma, we analyzed monthly revenues at millions of small businesses across 50 U.S. cities to find out.
*Published: 2021-03-18*

### [Finding Early Warning Signs of Business Bankruptcy](https://www.enigma.com/resources/blog/finding-early-warning-signs-of-business-bankruptcy)
What if you could predict when a company was going to go bankrupt? Monthly revenue data can help you do exactly that - identify businesses in distress long before they default. We analyzed 3 businesses that filed Chap. 7 bankruptcies and found...
*Published: 2021-03-05*

### [Which Lenders Have the Highest Performing “PPP Portfolios”?](https://www.enigma.com/resources/blog/which-lenders-have-the-highest-performing-ppp-portfolios)
 Enigma analyzed the growth of more than 700,000 businesses who received PPP loans from 50 lenders to shed light on how many businesses continue to struggle, even with financial assistance.
*Published: 2021-02-05*

### [Introducing Merchant Transaction Signals](https://www.enigma.com/resources/blog/introducing-merchant-transaction-signals)
Enigma’s Merchant Transaction Signals provides key data about the financial health and growth of small and medium businesses across the U.S. The data includes card revenues, card transaction volumes, customer counts, and monthly revenue growth.
*Published: 2021-02-01*

### [How to Enrich a List of Businesses With Enigma’s Batch Upload](https://www.enigma.com/resources/blog/how-to-enrich-a-list-of-businesses-with-enigmas-batch-upload)
Our new CSV Upload feature makes it easy for anyone to access Enigma’s vast small business data, without directly interacting with the Enigma Businesses API. 
*Published: 2020-09-08*

### [50% of Small Business Lenders Don’t Think This Recession Will End By August 2021](https://www.enigma.com/resources/blog/50-of-small-business-lenders-dont-think-this-recession-will-end-by-august-2021)
Discover what small business credit and lending risk leaders from around the U.S. shared about the 2020 recession and its impact on small business financial services.
*Published: 2020-08-26*

### [How Data Decay Can Spoil Your Small Business Database](https://www.enigma.com/resources/blog/how-data-decay-can-spoil-your-small-business-database)
Small business data decay is the gradual loss in small business data accuracy, coverage, and reliability. Small business data decay creates problems for every department, from marketing to compliance.
*Published: 2020-08-17*

### [How to Find New Small Business Credit Risk Signals](https://www.enigma.com/resources/blog/how-to-find-new-small-business-credit-risk-signals)
Enigma breaks down new types of small business credits risk signal. Credit bureau reports are not delivering timely insights — Enigma explores new and alternative signals for better understanding risk exposure across your small business portfolio.
*Published: 2020-08-05*

### [Over $1B in PPP Loans Went to Now-Closed Businesses](https://www.enigma.com/resources/blog/over-1b-in-ppp-loans-went-to-now-closed-businesses)
Using our Business Closures data attribute, Enigma analyzes how many large PPP loan recipients are now closed, how many jobs may have been lost to closed PPP recipients, and how much money went to these now-closed businesses.
*Published: 2020-07-30*

### [What is an Industry Classification Code?](https://www.enigma.com/resources/blog/what-is-an-industry-classification-code)
What is an industry classification code? Enigma breaks down common industry classification systems and their relative strengths and weaknesses for defining a business's industry.
*Published: 2020-07-29*

### [Team Spotlight: Applied Technologies at Enigma](https://www.enigma.com/resources/blog/team-spotlight-applied-technologies-at-enigma)
Enigma’s Applied Technologies team delivers scalable solutions to our largest customers. We interviewed engineer Clinton Monk about his experiences developing an API to prevent money-laundering for some of the largest U.S. financial institutions.
*Published: 2020-07-22*

### [Introducing Business Closures Data](https://www.enigma.com/resources/blog/introducing-business-closures-data)
Enigma's Business Closures data attribute tracks the operating status of a business in near real-time, providing timely signal on a business's potential risk.
*Published: 2020-07-15*

### [Enigma Shipping Imports data reveals a 12% drop in imports in 2020](https://www.enigma.com/resources/blog/enigma-shipping-imports-data-reveals-a-12-drop-in-imports-in-2020)
Enigma Shipping Imports data reveals a 12% drop in international exports to the U.S. during the COVID-19 pandemic.
*Published: 2020-07-13*

### [Industry Data Is Essential and Yet It’s Often Inaccurate. Here’s Why.](https://www.enigma.com/resources/blog/industry-data-is-essential-and-yet-its-often-inaccurate-heres-why)
Enigma's Lead Data Scientist breaks down the challenges of industry classification data. Accurate industry data is needed by financial institutions to inform marketing, applicant decisioning, underwriting, and more.
*Published: 2020-06-09*

### [The State of Small Business Lending: June 2020 Industry Poll](https://www.enigma.com/resources/blog/the-state-of-small-business-lending-june-2020-industry-poll)
How is COVID-19 affecting the small business lending community across financial institutions and fintechs? Check out the results from our June 2020 industry poll of small business lenders.
*Published: 2020-06-05*

### [Announcing Enigma’s SOC 2 Certification](https://www.enigma.com/resources/blog/announcing-enigmas-soc-2-certification)
We are excited to announce that Enigma has obtained its SOC 2 Type I certification. Companies rely on Enigma’s data to build models and make more informed decisions about everything from underwriting to customer acquisition to risk management.
*Published: 2020-05-29*

### [How Enigma Develops Small Business Data](https://www.enigma.com/resources/blog/how-enigma-develops-small-business-data)
Get a step-by-step overview of Enigma’s methods for developing data about small businesses, and how we transform raw source data into on-demand data attributes for SMB lenders.
*Published: 2020-05-21*

### [Introducing Industry Classification Data](https://www.enigma.com/resources/blog/introducing-industry-classification-data)
Introducing Enigma's industry classification data, which accurately identifies the industry and sub-industry of a small business and provides granular operational details. 
*Published: 2020-05-14*

### [Quick Take: What We’re Learning from Small Business Lenders Right Now](https://www.enigma.com/resources/blog/quick-take-what-were-learning-from-small-business-lenders-right-now)
Enigma shares what's currently top of mind for small business lenders right now as they address COVID-19 risk and recovery initiatives. 
*Published: 2020-05-08*

### [Introducing Business Bankruptcies Data](https://www.enigma.com/resources/blog/introducing-business-bankruptcies-data)
Introducing Enigma’s Business Bankruptcies dataset, which originates from court records and updates daily. The attribute’s high refresh rate enables lenders to track bankruptcies in near real-time and better manage risk across their portfolios.
*Published: 2020-05-01*

### [Discussing SMB Credit Risk and COVID-19 with Kaustav Das, Chief Risk Officer of Petal](https://www.enigma.com/resources/blog/credit-risk-and-covid-19-kaustav-das-chief-risk-officer-petal)
Enigma interviews Kaustav Das, Chief Risk Officer of Petal and former Chief Risk Officer of Kabbage, about small business credit risk and how the lending landscape will change due to COVID-19.
*Published: 2020-04-22*

### [Financial Resources to Help Small Businesses Weather COVID-19](https://www.enigma.com/resources/blog/financial-resources-to-help-small-businesses-weather-covid-19)
In the wake of COVID-19, small businesses are facing unprecedented challenges. As part of our effort to support the SMB community, Enigma has aggregated a list of financial resources to help small businesses from the fintech community and beyond.
*Published: 2020-03-30*

### [Why You've Never Had Accurate Small Business Data Until Now](https://www.enigma.com/resources/blog/why-youve-never-had-accurate-small-business-data-until-now)
Data freshness, accessibility, and business diversity have kept small business data unreliable. Enigma solves all three with thousands of sources.
*Published: 2020-03-26*

### [3 Ways to Use Enigma’s Small Business Data](https://www.enigma.com/resources/blog/3-ways-to-use-enigmas-small-business-data)
Discover 3 ways you can use Enigma's small business data and Businesses API
*Published: 2020-03-24*

### [Reliable Small Business Data Matters Now More Than Ever](https://www.enigma.com/resources/blog/reliable-small-business-data-matters-now-more-than-ever)
Learn why reliable small business data matters now more than ever and how the Coronavirus has highlighted the necessity for better data about small businesses.
*Published: 2020-03-23*

### [What is Small Business Data?](https://www.enigma.com/resources/blog/what-is-small-business-data)
In this blog post, you’ll learn what small business data is and why it’s useful for B2B marketing.
*Published: 2020-03-09*

### [3 Best Practices for Direct Mail Marketing to Small Businesses](https://www.enigma.com/resources/blog/3-best-practices-for-direct-mail-marketing-to-small-businesses)
Learn three tips for how to do B2B direct mail marketing to small businesses the right way
*Published: 2020-03-03*

### [How We Solved Our Airflow I/O Problem By Using A Custom Docker Operator](https://www.enigma.com/resources/blog/how-we-solved-our-airflow-i-o-problem-by-using-a-custom-docker-operator)
A custom Airflow DockerOperator that passes JSON input via environment variables and extracts file outputs through shared NFS volumes across workers.
*Published: 2019-08-13*

### [Collect Training Data Using Amazon SageMaker Ground Truth & Figure Eight](https://www.enigma.com/resources/blog/collect-training-data-using-amazon-sagemaker-ground-truth-figure-eight)
A hands-on comparison of Amazon SageMaker Ground Truth and Figure Eight for collecting ML training data, with tips on instructions and quality.
*Published: 2019-08-07*

### [AWS Startup Series: Staying Positive in an Unfunded Startup](https://www.enigma.com/resources/blog/aws-startup-series-staying-positive-in-an-unfunded-startup)
Read the Enigma blog to learn about our technology, the latest in machine learning, and new product features.
*Published: 2019-06-27*

### [Techonomy NYC: Fighting Global Atrocities—with Data](https://www.enigma.com/resources/blog/techonomy-nyc-fighting-global-atrocities-with-data)
Enigma CEO Hicham Oudghiri and PC Mag's Dan Costa discuss using large-scale data modeling to combat human trafficking at Techonomy NYC.
*Published: 2019-06-10*

### [TF-IDF for tabular data featurization and classification](https://www.enigma.com/resources/blog/tf-idf-for-tabular-data-featurization-and-classification)
Applying TF-IDF vectorization with binary term-frequency to database columns classifies data types while handling placeholder values automatically.
*Published: 2019-06-06*

### [Managing AWS Accounts at Scale](https://www.enigma.com/resources/blog/managing-aws-accounts-at-scale)
Terraform modules, AWS Organizations, and Okta SSO combine to provision compliant AWS subaccounts in a single merge request at Enigma.
*Published: 2019-05-21*

### [Navigating Directed Graphs](https://www.enigma.com/resources/blog/navigating-directed-graphs)
Uncover hidden connections in political finance networks using graph algorithms and layered visualizations built on FEC transaction data.
*Published: 2019-05-13*

### [Scaling a Pandas ETL Job to 600GB](https://www.enigma.com/resources/blog/scaling-a-pandas-etl-job-to-600gb)
Cut a 120-hour Pandas ETL runtime to under 24 hours without rewriting to Spark. A practical guide to parallelization, partitioning, and bulk inserts.
*Published: 2019-05-08*

### [Containerizing Data Workflows (And How to Have the Best of Both Worlds)](https://www.enigma.com/resources/blog/containerizing-data-workflows-and-how-to-have-the-best-of-both-worlds)
How Enigma uses Airflow and Docker for scalable data workflows, and why image injection solved the shared-dependency problem across hundreds of DAGs.
*Published: 2019-04-10*

### [P-Hacking Recession Indicators](https://www.enigma.com/resources/blog/p-hacking-recession-indicators)
Housing sales, alcohol sales, and truck sales all correlate with GDP, but correlation is not causation. A p-hacking experiment proves why.
*Published: 2019-03-12*

### [Exploring Company Footprints](https://www.enigma.com/resources/blog/exploring-company-footprints)
Watch San Francisco Bay Area companies evolve over 16 years through an interactive map built on Enigma knowledge graph data and headcount trends.
*Published: 2019-02-12*

### [Insights from Four Years of the Forbes Fintech 50 List](https://www.enigma.com/resources/blog/insights-from-four-years-of-the-forbes-fintech-50-list)
Four years of the Forbes Fintech 50 reveal Bay Area dominance, a blockchain spike in 2018, and median funding doubling to $148M by 2019.
*Published: 2019-02-08*

### [Government Shutdown 2019](https://www.enigma.com/resources/blog/government-shutdown-2019)
Government Shutdown 2019
*Published: 2019-01-02*

### [SLUSH 2018: Real-World Data Solving Real-World Problems](https://www.enigma.com/resources/blog/slush-2018-real-world-data-solving-real-world-problems)
Enigma CEO Hicham Oudghiri joins Quartz at SLUSH 2018 to discuss how real-world data analytics can address major social issues affecting society.
*Published: 2018-12-05*

### [Why We’re Joining the Fight Against Human Trafficking](https://www.enigma.com/resources/blog/why-were-joining-the-fight-against-human-trafficking)
Enigma partners with ACAMS and Polaris to launch STAT, a platform helping financial institutions identify and share human trafficking indicators.
*Published: 2018-12-04*

### [Data Driven NYC: Leveraging Knowledge Graphs to Understand the World Around Us](https://www.enigma.com/resources/blog/data-driven-nyc-leveraging-knowledge-graphs-to-understand-the-world-around-us)
Enigma CEO Hicham Oudghiri presents at Data Driven NYC on how knowledge graphs unlock underutilized public data for enterprise insight.
*Published: 2018-11-27*

### [Things I Wish I'd Known About Spark When I Started (One Year Later Edition)](https://www.enigma.com/resources/blog/things-i-wish-id-known-about-spark-when-i-started-one-year-later-edition)
Practical Spark and Scala lessons on shuffle, skew, partitioning, checkpointing, and Parquet — learned the hard way over one year of production use.
*Published: 2018-11-08*

### [Money 20/20: Empathy in the Machine Age](https://www.enigma.com/resources/blog/money-20-20-empathy-in-the-machine-age)
Enigma CEO Hicham Oudghiri and BlackRock CMO Frank Cooper III discuss whether machines can drive empathy and creativity at Money 20/20 2018.
*Published: 2018-10-23*

### [Integrating Autogenerated Content Into Your Documentation Site Using Swagger and Jekyll](https://www.enigma.com/resources/blog/integrating-autogenerated-content-into-your-documentation-site-using-swagger-and-jekyll)
Ship API documentation that combines autogenerated endpoint details with tutorials and code samples using Swagger specs and Jekyll templates.
*Published: 2018-10-17*

### [Enigma Advances Strategy to Connect Enterprise Data to Real-World Data with $95M in Additional Funds](https://www.enigma.com/resources/blog/enigma-advances-strategy-to-connect-enterprise-data-to-real-world-data-with-95m-in-additional-funds)
Enigma raises $95M led by NEA with BB&T, MetLife, Capital One Growth Ventures, Third Point, and Glynn Capital to expand its real-world data platform.
*Published: 2018-09-18*

### [The Journey Towards a Knowledge Graph of Public Data](https://www.enigma.com/resources/blog/the-journey-towards-a-knowledge-graph-of-public-data)
Enigma builds a knowledge graph of public data using ontology mapping, entity resolution, and graph traversal to answer complex questions fast.
*Published: 2018-09-17*

### [Enigma’s Garden Model for ETL Tooling](https://www.enigma.com/resources/blog/enigmas-garden-model-for-etl-tooling)
Kirby, a pink circular cartoon character drawing
*Published: 2018-08-13*

### [Data 101: Semantic Data + Ontologies](https://www.enigma.com/resources/blog/data-101-semantic-data-ontologies)
Stop miscommunication between datasets by building ontologies — shared vocabularies that let you query, link, and reuse data across your organization.
*Published: 2018-07-26*

### [An Interview with Gil Shklarski, CTO of Flatiron Health](https://www.enigma.com/resources/blog/an-interview-with-gil-shklarski-cto-of-flatiron-health)
Gil Shklarski shares how Flatiron Health built its engineering culture, from career ladders and GSD metrics to scaling from 2 to 130 engineers.
*Published: 2018-06-21*

### [The Secret World of Newline Characters](https://www.enigma.com/resources/blog/the-secret-world-of-newline-characters)
A CSV ingestion bug leads to an unexpected tour through computing history, from 1963 ASCII control codes to Unicode paragraph separators.
*Published: 2018-06-19*

### [Collision 2018: Does AI Have More Potential for Good than Harm?](https://www.enigma.com/resources/blog/collision-2018-does-ai-have-more-potential-for-good-than-harm)
Read the Enigma blog to learn about our technology, the latest in machine learning, and new product features.
*Published: 2018-05-02*

### [Improving Entity Resolution with the Soft TF-IDF Algorithm](https://www.enigma.com/resources/blog/improving-entity-resolution-with-the-soft-tf-idf-algorithm)
Soft TF-IDF improves fuzzy matching for entity resolution by weighting rare tokens, boosting match rates from 50% to 80% with under 1% false positives.
*Published: 2018-04-17*

### [Parental Leave at Enigma](https://www.enigma.com/resources/blog/parental-leave-at-enigma)
A generous, equitable parental leave policy helps startups retain top talent and build a culture that puts people first. Here is how Enigma does it.
*Published: 2018-03-14*

### [What is Public Data?](https://www.enigma.com/resources/blog/what-is-public-data)
Public data spans everything from government portals to FOIA requests. Only 7% of key datasets worldwide meet the standard for truly open data.
*Published: 2018-02-20*

### [CXO Talk: Healthcare Innovation with Data and AI](https://www.enigma.com/resources/blog/cxo-talk-healthcare-innovation-with-data-and-ai)
Read the Enigma blog to learn about our technology, the latest in machine learning, and new product features.
*Published: 2018-02-02*

### [Web Summit 2017: Open Source and Data Opportunities](https://www.enigma.com/resources/blog/web-summit-2017-open-source-and-data-opportunities)
Enigma CEO Hicham Oudghiri joins PJ Hagerty and Kris Borchers at Web Summit 2017 to discuss open source’s impact on data and coding communities.
*Published: 2017-11-08*

### [The Challenge of Big Data (McGowan Forum on Ethics)](https://www.enigma.com/resources/blog/the-challenge-of-big-data-mcgowan-forum-on-ethics)
Enigma co-founder Marc DaCosta joins a McGowan Forum panel at the National Archives to examine big data ethics and citizen data tracking.
*Published: 2017-10-26*

### [Angel Nguyen Swift, Former American Express Executive, Joins Enigma](https://www.enigma.com/resources/blog/angel-nguyen-swift-former-american-express-executive-joins-enigma)
Angel Nguyen Swift, former American Express VP of Financial Crimes Compliance, joins Enigma to lead its financial services compliance solutions.
*Published: 2017-09-28*

### [Data in the Real World: Fast Forward](https://www.enigma.com/resources/blog/data-in-the-real-world-fast-forward)
Hear how connecting public data to the real world creates open, actionable intelligence — Enigma CEO Hicham Oudghiri on Fast Forward with Dan Costa.
*Published: 2017-09-28*

### [Moving to Parquet Files as a System-of-Record](https://www.enigma.com/resources/blog/moving-to-parquet-files-as-a-system-of-record)
Enigma replaced Postgres with Parquet files on S3 for columnar storage, cutting costs and enabling Spark, Python, and SQL access to public data.
*Published: 2017-08-28*

### [Data 101: Metadata](https://www.enigma.com/resources/blog/data-101-metadata)
Metadata provides the context to understand, link, and reuse enterprise data across sources — from user-contributed labels to provenance and lineage.
*Published: 2017-01-18*

### [The Challenge in Analyzing Adverse Event Data](https://www.enigma.com/resources/blog/the-challenge-in-analyzing-adverse-event-data)
Adverse event data from the FDA and pharma companies is fragmented, duplicated, and unstructured, making timely drug safety analysis difficult.
*Published: 2016-11-30*

### [2016 Enigma Momentum Report](https://www.enigma.com/resources/blog/2016-enigma-momentum-report)
A data-driven look at Enigma's breakout 2016 year, covering team growth, engineering leadership, and the datasets fueling the company's future.
*Published: 2016-11-03*

### [Supporting Crunchbase as It Goes Pro](https://www.enigma.com/resources/blog/supporting-crunchbase-as-it-goes-pro)
Enigma partners with Crunchbase Pro at TechCrunch Disrupt to supply business data alongside Glassdoor, Product Hunt, SimilarWeb, and Apptopia.
*Published: 2016-09-12*

### [Smoke Signals](https://www.enigma.com/resources/blog/smoke-signals)
Enigma | Smoke Signals
*Published: 2015-09-24*

### [Mike Flowers, Former NYC Chief Analytics Officer, Joins Enigma](https://www.enigma.com/resources/blog/mike-flowers-former-nyc-chief-analytics-officer-joins-enigma)
NYC's former Chief Analytics Officer Mike Flowers joins Enigma as CAO, bringing experience transforming city operations with open data analytics.
*Published: 2014-09-12*

### [Enigma Selected for FinTech Innovation Lab](https://www.enigma.com/resources/blog/enigma-selected-for-fintech-innovation-lab)
Enigma was one of six companies selected for the 2014 FinTech Innovation Lab, a mentorship program by Accenture and the Partnership Fund for NYC.
*Published: 2014-03-14*

### [TechCrunch Disrupt: Startup Battlefield 2013](https://www.enigma.com/resources/blog/techcrunch-disrupt-startup-battlefield-2013)
Enigma co-founders Hicham Oudghiri and Marc DaCosta showcase the first iteration of Enigma on the way to winning TechCrunch Disrupt NY 2013. 
*Published: 2013-04-30*

### [Sanctions Tracker](https://www.enigma.com/resources/blog/sanctions-tracker)
Sanctions Tracker 2013
*Published: 2013-04-01*

## Knowledge Base

87 articles covering AML, KYC, KYB, sanctions screening, entity resolution, and compliance concepts.

### [Adverse Media Screening](https://www.enigma.com/resources/knowledge/glossary/adverse-media)
What adverse media screening is, what sources to monitor, and how negative news affects KYB decisions.

### [AML: Anti-Money Laundering](https://www.enigma.com/resources/knowledge/glossary/aml)
What Anti-Money Laundering means, the regulatory framework, and how AML compliance programs work.

### [AMLD: Anti-Money Laundering Directive](https://www.enigma.com/resources/knowledge/glossary/amld)
What the EU Anti-Money Laundering Directives are and how they shape European KYB and beneficial ownership requirements.

### [Anonymous LLC States: How Delaware, Nevada, Wyoming, and New Mexico Compare](https://www.enigma.com/resources/knowledge/anonymous-llc-states)
Four US states allow LLCs to keep ownership off public filings. Here's what each state actually requires, what it conceals, and what that means for business verification.

### [Auto-Verification: Instant Business Verification Without Manual Review](https://www.enigma.com/resources/knowledge/glossary/auto-verification)
Understand auto-verification—the process of verifying businesses instantly through automated data checks, enabling fast onboarding without human review.

### [Beneficial Ownership](https://www.enigma.com/resources/knowledge/glossary/beneficial-ownership)
What beneficial ownership means, how it differs from legal ownership, and why it matters for KYB and AML.

### [BOI: Beneficial Ownership Information](https://www.enigma.com/resources/knowledge/glossary/boi)
What Beneficial Ownership Information means under the Corporate Transparency Act and how it's changing US corporate transparency.

### [BSA: Bank Secrecy Act](https://www.enigma.com/resources/knowledge/glossary/bsa)
What the Bank Secrecy Act is, its reporting requirements, and how BSA shapes US anti-money laundering compliance.

### [Business Address Verification: Mail Drops, Virtual Offices, and Real Operating Locations](https://www.enigma.com/resources/knowledge/business-address-verification)
A business address can mean six very different things, only one of which is where the business actually operates. Here's how to type each address before verifying it.

### [Business Graph: Modeling Relationships Between Entities](https://www.enigma.com/resources/knowledge/glossary/business-graph)
Learn how business graphs represent companies as interconnected nodes—brands, entities, locations, and people—linked by ownership and operational relationships.

### [Business Graph: Understanding Corporate Structures for KYB](https://www.enigma.com/resources/knowledge/implementation-business-graph)
How graph-based data models reveal business relationships, ownership structures, and risk patterns that traditional databases miss.

### [Business Identity: Brand, Entity, and Location](https://www.enigma.com/resources/knowledge/glossary/business-identity)
Understand the three dimensions of business identity—brand, legal entity, and location—and why connecting them matters for verification.

### [Business License Verification: Using Government Permits to Confirm Operations](https://www.enigma.com/resources/knowledge/business-license-verification)
License records are the most direct operational evidence in public sources. Here's how to cross-reference government permits to confirm a business is real, located, and operating.

### [Business Registry](https://www.enigma.com/resources/knowledge/glossary/business-registry)
What business registries are, how they work across jurisdictions, and their role in KYB verification.

### [CBDDQ: Correspondent Banking Due Diligence Questionnaire](https://www.enigma.com/resources/knowledge/glossary/cbddq)
What the CBDDQ is, who uses it, and how standardized questionnaires streamline correspondent banking KYB.

### [CDD: Customer Due Diligence](https://www.enigma.com/resources/knowledge/glossary/cdd)
What Customer Due Diligence means, the four pillars of the FinCEN CDD Rule, and how CDD applies to business verification.

### [CFT: Combating the Financing of Terrorism](https://www.enigma.com/resources/knowledge/glossary/cft)
What Combating the Financing of Terrorism means and how CFT requirements complement AML programs.

### [Choosing KYB Software: Evaluation Criteria and Build vs. Buy](https://www.enigma.com/resources/knowledge/choosing-kyb-software)
How to evaluate KYB software solutions, key criteria for selection, and when to build versus buy your business verification capabilities.

### [CIP: Customer Identification Program](https://www.enigma.com/resources/knowledge/glossary/cip)
What Customer Identification Program means and how CIP requirements form the foundation of identity verification.

### [Corporate Transparency Act (CTA): BOI Reporting Requirements](https://www.enigma.com/resources/knowledge/corporate-transparency-act)
Understand Corporate Transparency Act requirements, who must report beneficial ownership information to FinCEN, exemptions, deadlines, and compliance obligations.

### [Correspondent Banking](https://www.enigma.com/resources/knowledge/glossary/correspondent-banking)
What correspondent banking is, its AML risks, and due diligence requirements for correspondent relationships.

### [CTA: Corporate Transparency Act](https://www.enigma.com/resources/knowledge/glossary/cta)
What the Corporate Transparency Act is and how it requires beneficial ownership reporting to FinCEN.

### [CTR: Currency Transaction Report](https://www.enigma.com/resources/knowledge/glossary/ctr)
What a Currency Transaction Report is, when it's required, and how CTRs relate to cash-intensive businesses.

### [Customer Due Diligence (CDD): Requirements and Best Practices](https://www.enigma.com/resources/knowledge/customer-due-diligence)
Understand Customer Due Diligence requirements, the FinCEN CDD Rule, risk-based approaches, and how CDD applies to business customers under KYB compliance.

### [Data Enrichment: Filling Gaps in Business Information](https://www.enigma.com/resources/knowledge/glossary/data-enrichment)
Understand data enrichment—the process of supplementing business data with additional sources to create a more complete picture for verification.

### [DBAs and KYB: Why Trade Names Break Business Verification](https://www.enigma.com/resources/knowledge/dbas-and-kyb)
A doing-business-as filing decouples a business's public name from its legal identity. Here's how DBAs fragment business identity and what KYB has to do to resolve them.

### [Dormant Companies: Detecting Businesses That Exist Only on Paper](https://www.enigma.com/resources/knowledge/dormant-companies)
A dormant company is registered but has no observable operating activity. Here's how to detect entities that exist only on paper by reading the absence of records, not their presence.

### [EDD: Enhanced Due Diligence](https://www.enigma.com/resources/knowledge/glossary/edd)
What Enhanced Due Diligence means, when it's required, and what additional measures EDD involves for high-risk relationships.

### [Enhanced Due Diligence (EDD): When and How to Apply It](https://www.enigma.com/resources/knowledge/enhanced-due-diligence)
Learn when Enhanced Due Diligence is required, what EDD measures involve, and how to implement risk-appropriate verification for high-risk customers.

### [Entity Resolution for KYB: The Complete Guide](https://www.enigma.com/resources/knowledge/implementation-entity-resolution)
How entity resolution powers accurate business verification—techniques, implementation strategies, and why it's the foundation of effective KYB.

### [Entity Resolution: Connecting Fragmented Business Records](https://www.enigma.com/resources/knowledge/glossary/entity-resolution)
Learn how entity resolution matches and links business records across data sources to create unified, verified business identities.

### [Entity Verification](https://www.enigma.com/resources/knowledge/glossary/entity-verification)
What entity verification means in KYB, what data points to verify, and how verification differs from identity proofing.

### [FATF: Financial Action Task Force](https://www.enigma.com/resources/knowledge/glossary/fatf)
What FATF is, its 40 Recommendations, and how FATF shapes global anti-money laundering standards.

### [FinCEN: Financial Crimes Enforcement Network](https://www.enigma.com/resources/knowledge/glossary/fincen)
What FinCEN is, its role in AML enforcement, and how it administers the Corporate Transparency Act's beneficial ownership database.

### [Formation Agent: Mass Incorporators and Shell Company Risk](https://www.enigma.com/resources/knowledge/glossary/formation-agent)
Learn about formation agents—services that incorporate companies at scale—and how their presence factors into shell company detection.

### [Ground Truth: Verified Data from Primary Sources](https://www.enigma.com/resources/knowledge/glossary/ground-truth)
Understand ground truth in business data—verified, authoritative information from primary sources rather than estimates or models.

### [How Fast Does Business Identity Change? The Data Behind Perpetual KYB](https://www.enigma.com/resources/knowledge/business-identity-change-rate)
Business identity changes constantly: names, addresses, officers, owners, status, licenses. Here's what changes, how often, and what that means for ongoing KYB.

### [Know Your Agent (KYA) vs. KYB: Two Trust Problems in Agentic Commerce](https://www.enigma.com/resources/knowledge/kya-vs-kyb-agentic-commerce)
The industry is treating KYA and KYB as competing frameworks for agentic identity. They're not — they solve different problems at different layers. Here's how they fit together.

### [KYB Audit Trails: Sourcing Every Verification Claim to a Government Record](https://www.enigma.com/resources/knowledge/kyb-audit-trails)
A KYB audit trail records which source document supports each claim about a business. Without a trail, verification is an assertion; with one, it is evidence.

### [KYB Automation: What to Automate and What Requires Human Review](https://www.enigma.com/resources/knowledge/kyb-automation)
Learn which KYB verification steps can be automated for efficiency and which require human judgment to manage risk effectively.

### [KYB for Fintech Companies](https://www.enigma.com/resources/knowledge/kyb-for-fintech)
Know Your Business considerations for fintech companies, neobanks, and digital financial services—balancing regulatory requirements with the fast, digital-first experiences customers expect.

### [KYB for Lenders: Business Verification in Lending](https://www.enigma.com/resources/knowledge/kyb-for-lenders)
How lenders can implement KYB verification that satisfies compliance requirements while enabling fast, accurate credit decisions.

### [KYB for Marketplaces and Platforms](https://www.enigma.com/resources/knowledge/kyb-for-marketplaces)
How online marketplaces and platforms should approach Know Your Business verification for sellers, service providers, and business users.

### [KYB for Payment Providers](https://www.enigma.com/resources/knowledge/kyb-for-payments)
Know Your Business requirements and best practices for payment processors, acquirers, payment facilitators, and PSPs verifying merchant accounts.

### [KYB Onboarding Best Practices: Balancing Speed and Compliance](https://www.enigma.com/resources/knowledge/kyb-onboarding)
Learn how to design KYB onboarding flows that minimize friction for legitimate businesses while maintaining regulatory compliance.

### [KYB Providers: How to Choose the Right Business Verification Partner](https://www.enigma.com/resources/knowledge/kyb-providers)
Compare KYB providers and learn what to look for when selecting a business verification solution for your organization.

### [KYB Software: What to Look for in a Business Verification Platform](https://www.enigma.com/resources/knowledge/kyb-software)
A guide to evaluating KYB software and business verification platforms—key features, integration considerations, and questions to ask vendors.

### [KYB Solutions: A Complete Guide to Business Verification Technology](https://www.enigma.com/resources/knowledge/kyb-solutions)
Understand the landscape of KYB solutions, from manual processes to automated platforms, and learn what capabilities matter most.

### [KYB Verification: The Complete Guide to Business Identity Verification](https://www.enigma.com/resources/knowledge/kyb-verification)
Learn how KYB verification works, what data sources to use, and how to build a verification process that balances compliance with conversion.

### [KYB vs KYC: Understanding the Key Differences](https://www.enigma.com/resources/knowledge/kyb-vs-kyc)
Compare KYB (Know Your Business) and KYC (Know Your Customer) verification processes, requirements, and when each applies to your compliance program.

### [KYB: Know Your Business](https://www.enigma.com/resources/knowledge/glossary/kyb)
What Know Your Business means and how KYB verification works for business customer onboarding.

### [KYC: Know Your Customer](https://www.enigma.com/resources/knowledge/glossary/kyc)
What Know Your Customer means, how it differs from KYB, and why individual identity verification is foundational to compliance programs.

### [Legal Entity: The Business Structure Registered with the State](https://www.enigma.com/resources/knowledge/glossary/legal-entity)
Understand legal entities—the formal business structures registered with state governments that create distinct legal identities.

### [Manual Review: Human Judgment in Business Verification](https://www.enigma.com/resources/knowledge/glossary/manual-review)
Understand manual review—when human analysts must evaluate business verification cases that can't be automatically decided.

### [Micro-Business: The Smallest Businesses with the Biggest Data Gap](https://www.enigma.com/resources/knowledge/glossary/micro-business)
Understand micro-businesses—the smallest segment of the business population and why they present unique KYB verification challenges.

### [Money Laundering](https://www.enigma.com/resources/knowledge/glossary/money-laundering)
What money laundering is, the three stages of laundering, and how KYB helps prevent it.

### [Multi-State Business Verification: Resolving Identity Across Jurisdictions](https://www.enigma.com/resources/knowledge/multi-state-business-verification)
Most operating businesses are recorded in multiple state filing systems, and each record is slightly different. Here's how to resolve a business identity across jurisdictions.

### [OFAC: Office of Foreign Assets Control](https://www.enigma.com/resources/knowledge/glossary/ofac)
What OFAC is, how it administers US sanctions, and what OFAC compliance means for KYB programs.

### [Ongoing Monitoring](https://www.enigma.com/resources/knowledge/glossary/ongoing-monitoring)
What ongoing monitoring means for KYB, what triggers reviews, and how to maintain current customer knowledge.

### [Operating Location: Where Business Actually Happens](https://www.enigma.com/resources/knowledge/glossary/operating-location)
Understand the difference between operating locations—where businesses actually work—and registered or mailing addresses.

### [Operating Status: Is the Business Actually Active?](https://www.enigma.com/resources/knowledge/glossary/operating-status)
Understand operating status—the difference between registration status in government records and whether a business is actually conducting operations.

### [PEP: Politically Exposed Person](https://www.enigma.com/resources/knowledge/glossary/pep)
What Politically Exposed Person means, who qualifies as a PEP, and why PEP status triggers enhanced due diligence.

### [Perpetual KYB: The Data Infrastructure Requirements No One Talks About](https://www.enigma.com/resources/knowledge/perpetual-kyb-data-infrastructure)
Continuous business monitoring is becoming standard practice. But perpetual KYB is a data infrastructure problem as much as a workflow problem — here's what it actually requires.

### [Phoenix Companies: How to Detect Serial Re-Incorporation](https://www.enigma.com/resources/knowledge/phoenix-companies)
A phoenix company dissolves to shed its debts and reopens clean under a new entity. Here's how the maneuver works and which records expose it.

### [Registered Agent: Legal Contact for Business Entities](https://www.enigma.com/resources/knowledge/glossary/registered-agent)
Understand registered agents—who they are, why businesses use them, and what their presence reveals about entity structures.

### [Registered Agents in KYB: What Mass-Filing Patterns Reveal About a Business](https://www.enigma.com/resources/knowledge/registered-agents-kyb)
The registered agent is the most overlooked field in a business filing. Read across a population, agent patterns reveal formation networks, risk signals, and entity relationships.

### [Reporting Company](https://www.enigma.com/resources/knowledge/glossary/reporting-company)
What a reporting company is under the Corporate Transparency Act and which entities must file beneficial ownership reports.

### [Risk-Based Approach (RBA)](https://www.enigma.com/resources/knowledge/glossary/risk-based-approach)
What the risk-based approach means in AML/KYB, how to apply proportionate due diligence, and regulatory expectations.

### [Sanctions Screening](https://www.enigma.com/resources/knowledge/glossary/sanctions-screening)
What sanctions screening is, which lists to check, and how sanctions compliance applies to KYB verification.

### [SAR: Suspicious Activity Report](https://www.enigma.com/resources/knowledge/glossary/sar)
What a Suspicious Activity Report is, when to file one, and how SARs relate to KYB compliance.

### [SDD: Simplified Due Diligence](https://www.enigma.com/resources/knowledge/glossary/sdd)
What Simplified Due Diligence means and when reduced verification requirements apply to lower-risk customers.

### [SDN: Specially Designated Nationals List](https://www.enigma.com/resources/knowledge/glossary/sdn)
What the SDN List is, who's on it, and why SDN screening is critical for KYB compliance.

### [Secretary of State: The Source of Business Registration Data](https://www.enigma.com/resources/knowledge/glossary/secretary-of-state)
Learn about Secretary of State offices as the authoritative source for business entity filings, registration status, and corporate records in the US.

### [Shell Company](https://www.enigma.com/resources/knowledge/glossary/shell-company)
What a shell company is, legitimate vs. illicit uses, and why shell companies present KYB challenges.

### [Shell Company Detection: How to Identify High-Risk Business Entities](https://www.enigma.com/resources/knowledge/shell-company-detection)
Learn how to detect shell companies and high-risk entities using data signals, red flags, and verification techniques that go beyond basic registry checks.

### [Sole Proprietor: The Person Is the Business](https://www.enigma.com/resources/knowledge/glossary/sole-proprietor)
Understand sole proprietorships—businesses where there's no legal separation between owner and business, and the unique KYB challenges they present.

### [STP: Straight-Through Processing](https://www.enigma.com/resources/knowledge/glossary/stp)
What straight-through processing means in KYB, how automation enables STP, and when manual review is still needed.

### [The Business Identity Stack for Agentic AI](https://www.enigma.com/resources/knowledge/business-identity-stack-agentic-ai)
Trustworthy agentic KYB is a layered problem. This guide maps each layer of the business identity stack — from raw data to agent decisioning — and explains what each layer requires to support reliable AI-driven workflows.

### [The KYB Process: A Step-by-Step Guide](https://www.enigma.com/resources/knowledge/kyb-process)
Walk through the complete Know Your Business verification process, from application intake through ongoing monitoring, with practical guidance for each stage.

### [Trade Name / DBA: The Name Customers Know](https://www.enigma.com/resources/knowledge/glossary/trade-name)
Understand trade names (DBAs)—the operating names businesses use with customers, and how they differ from legal entity names.

### [Trusts and Beneficial Ownership](https://www.enigma.com/resources/knowledge/trusts-beneficial-ownership)
How trusts complicate beneficial ownership verification in KYB, including FATF requirements, verification challenges, and practical approaches to trust-related due diligence.

### [UBO Verification: Identifying Ultimate Beneficial Owners](https://www.enigma.com/resources/knowledge/ubo-verification)
Learn how to identify and verify Ultimate Beneficial Owners (UBOs) for KYB compliance, including ownership thresholds, verification methods, and common challenges.

### [UBO: Ultimate Beneficial Owner](https://www.enigma.com/resources/knowledge/glossary/ubo)
What Ultimate Beneficial Owner means, ownership thresholds, and why identifying the natural persons behind businesses is central to KYB compliance.

### [Watchlist Screening](https://www.enigma.com/resources/knowledge/glossary/watchlist-screening)
What watchlist screening is, which lists matter beyond sanctions, and how to handle matches.

### [What is KYB? A Complete Guide to Know Your Business](https://www.enigma.com/resources/knowledge/what-is-kyb)
Learn what KYB (Know Your Business) means, why it matters for compliance, and how business verification protects organizations from financial crime.

### [Why AI Agents Hallucinate About Businesses — and What Ground-Truth Data Does About It](https://www.enigma.com/resources/knowledge/why-ai-agents-hallucinate-about-businesses)
AI agents in B2B workflows make confident errors about business identity. Here's why the problem is structural, how it manifests, and what a reliable business identity data layer requires.

### [Why KYB Matters](https://www.enigma.com/resources/knowledge/why-kyb-matters)
Understand the business case for Know Your Business verification, including regulatory requirements, fraud prevention, and the real costs of inadequate business verification.

## Case Studies

12 case studies showing measurable results from Enigma implementations.

### [How Curia Leverages Enigma to Drive Smarter Real Estate Decisions](https://www.enigma.com/resources/case-study/how-curia-leverages-enigma-to-drive-smarter-real-estate-decisions)
**Client:** Curia | **Industry:** Real Estate

### [Enigma KYB helps financial institutions increase instant Secretary of State registration fill rates by 50%](https://www.enigma.com/resources/case-study/enigma-kyb-helps-financial-institutions-increase-instant-secretary-of-state-registration-fill-rates-by-50)
**Client:** Financial Institutions | **Industry:** Financial Services

### [Findigs & Enigma KYB: Building Trust and Streamlining the Rental Experience for Property Managers and Renters](https://www.enigma.com/resources/case-study/findigs-enigma-kyb-building-trust-and-streamlining-the-rental-experience-for-property-managers-and-renters)
**Client:** Findigs | **Industry:** Property Tech

### [Improving Audience Targeting](https://www.enigma.com/resources/case-study/improving-audience-targeting)
**Client:** FMCG Company | **Industry:** Sales & Marketing

### [Discovering $8.9M in Revenue with Smarter Prospect Lists](https://www.enigma.com/resources/case-study/discovering-8-9m-in-revenue-with-smarter-prospect-lists)
**Client:** Multiple Clients | **Industry:** Sales & Marketing

### [Maximizing Outbound Campaigns](https://www.enigma.com/resources/case-study/maximizing-outbound-campaigns)
**Client:** Phorest | **Industry:** Sales & Marketing

### [Minimizing Risk During Onboarding with Enigma](https://www.enigma.com/resources/case-study/minimizing-risk-during-onboarding-with-enigma)
**Client:** Preflect | **Industry:** AI-Powered Ad Targeting

### [How Quantum Lending Solutions cut verification costs by 35%](https://www.enigma.com/resources/case-study/quantum-lending-replaces-legacy-kyb-for-higher-match-rates)
**Client:** Quantum Lending Solutions | **Industry:** Financial Services / Lending Infrastructure

### [Ramp: From KYB to Fraud Intelligence](https://www.enigma.com/resources/case-study/ramp-turned-kyb-verification-into-fraud-intelligence-pipeline)
**Client:** Ramp | **Industry:** Corporate Cards / Expense Management / Fintech

### [Boosting Marketing Effectiveness](https://www.enigma.com/resources/case-study/boosting-marketing-effectiveness)
**Client:** Top SMB Credit Provider | **Industry:** Sales & Marketing

### [Increase Credit Lines Safely](https://www.enigma.com/resources/case-study/increase-credit-lines-safely)
**Client:** Top SMB Lender | **Industry:** Lending

### [How Wisetack Cut KYB Costs by Over 60% and Took Merchant Verification Control](https://www.enigma.com/resources/case-study/wisetack-cut-kyb-costs)
**Client:** Wisetack | **Industry:** Embedded Finance / Home Improvement