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Oscilar and Enigma Join Forces to Redefine KYB and Risk Management

Neha Narkhede

May 10, 2024

We are excited to announce the strategic partnership between Oscilar and Enigma, bringing together Oscilar's AI-powered risk decisioning platform with Enigma's expertise in business verification data. This collaboration is set to transform risk management in the KYB (Know Your Business), merchant risk, and credit risk sectors by integrating cutting-edge technology with comprehensive data solutions.

Key Benefits of the Partnership:

Enhanced KYB and Compliance Solutions

Through this partnership, Enigma and Oscilar will deliver enhanced KYB solutions that promise instant business verifications, reducing the onboarding time from days to seconds, thereby significantly cutting operational costs. Enigma's data integration will enable Oscilar to pre-qualify and segment customers effectively, thereby enhancing the overall customer onboarding experience.

Advanced Risk and Credit Assessment Tools

The combined capabilities of both companies will also enhance the monitoring and assessment of credit and merchant risks. Enigma's merchant transaction signals will empower Oscilar's risk decisioning models, by allowing customers to glean insights from card transactions for more nuanced and informed risk decisions. This integration aims to offer financial institutions a more comprehensive view of potential risks, facilitating better management and mitigation strategies.

Operational Efficiency and Cost Reduction

A key benefit of this partnership is the significant reduction in KYB and compliance-related costs. By automating the verification processes and utilizing Enigma's efficient data management, Oscilar users can expect a reduction in overhead expenses by 50-80%, providing substantial savings while ensuring accuracy and compliance.

This partnership represents a significant advancement in risk management technology, promising to deliver superior solutions that will enable businesses to manage risk more effectively while also achieving compliance and operational excellence. As we move forward, Oscilar and Enigma are committed to continuous innovation and leadership in the financial technology space.

About Oscilar

Oscilar is renowned for its advanced AI and machine learning capabilities that simplify complex risk decisioning for financial institutions. The platform offers solutions that streamline processes in fraud prevention, credit underwriting, and compliance, making financial operations not only faster but also more secure and compliant with global regulations. 

About Enigma

Enigma excels in providing up-to-date, comprehensive data on small and medium businesses, helping firms streamline the KYB process and enhance business verification practices. Enigma’s approach reduces the manual efforts required in business verification, leveraging data from authoritative sources to provide instant business insights and regulatory compliance. 

Quote from Enigma 

“Oscilar’s innovative risk decisioning platform, powered with Enigma’s differentiated KYB data will allow risk teams to approve more applications at point of onboarding,” said Arly Dungca, VP of Partnerships at Enigma. “Additionally, through Oscilar, customers will be able to access Enigma’s exclusive merchant transaction signals to identify more creditworthy SMBs.”

Quote from Neha 

“Business verification at financial institutions involves carefully balancing KYB and customer data,” said Neha Narkhede, Co-Founder & CEO of Oscilar. “The deep understanding of KYB processes and business verification practices provided by Enigma, combined with Oscilar’s generative AI Risk Decisioning platform offers an unparalleled solution to automate, streamline and increase the accuracy of KYB for the first time.”

See it in action – book a demo today

See it in action – book a demo today

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