Traditional data providers report business closures with high latency, leaving lenders vulnerable to increased risk or fraud in the interim. Enigma aggregates online reports of business closures, to capture business closings as they happen week-to-week. With access to low-latency business closure data, lenders can take timely actions to reduce their risk exposure.
How to use this data
Business closures data can inform both risk and growth-driven processes. For credit risk monitoring, you can identify recent closures amongst businesses in your portfolio, enabling you to address related loans or line of credits. Marketing teams can also leverage this data to increase campaign ROI by ensuring their campaigns only target leads that are still operating.
Sample API output
"sources_indicating_status": ["online source 1", "business_website"],
"business_registration" : "CLOSED"
Businesses are currently closing at an unprecedented rate. We’re able to leverage online reports in order to capture these closures as they happen near real-time.