Enigma and Databricks are collaborating to deliver data on small- to medium-sized business (SMB) financial health signals to customers.
With this data, customers can access financial health intelligence about more than 33 million businesses, based on a panel of more than 40% of U.S. card transactions, the companies said in a Monday (Nov. 18) press release.
“The combination of Databricks’ zero-copy integration, Delta Sharing, and Enigma’s data empowers teams to effortlessly enhance their customer, prospect and supplier lists with a comprehensive, timely and accurate understanding of business identities and financial health,” David Kulwin, director of technology partnerships at Databricks, said in the release.
Databricks, a data and artificial intelligence (AI) company, offers the Databricks Marketplace that is powered by its open-source Delta Sharing standard and allows users to discover, share and access data products, according to the release.
With the companies’ collaboration, Enigma, a data science company that provides data insights into businesses, will deliver its data via the Databricks Marketplace, the release said. The data includes monthly and annual card revenues, revenue growth, average transaction size, payment technologies used and sub-industry classifications.
Sample data sets from Enigma that are now available on the Databricks Marketplace include salons, retail and restaurants, per the release.
“As longtime users of Databricks, we’ve benefited from the platform’s major evolution in capabilities over the years,” Enigma CEO Hicham Oudghiri said in the release. “Delta Sharing is a great example of that: it has reduced the cost and complexity of securely exchanging data.”
Enigma is investing heavily into AI while also continuing “back to basics,” Oudghiri wrote in the December 2023 PYMNTS Intelligence eBook, “2023: The Year of Strategic Shifts in Business.”
“We build data products for the hungry algorithms powering this next-generation economy, from sales and marketing insights to risk analytics and compliance screens,” Oudghiri wrote. “Our business is run lean with a maniacal focus on the quality of insight we deliver to our customers.”
As for Databricks, it collaborated with Mastercard to help that company build its new in-house capability for building and deploying knowledge agent tools, including a new generative AI-powered digital assistant that is designed to simplify the customer onboarding process.
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