Enigma and CARTO bring context to FinTech with location data




The Client

The Challenge




Why did you decide to come to CARTO Locations?

Bringing together industry knowledge and context to the data community is extremely important, in order to leverage and bring knowledge to what people who are interested in CARTO Locations are doing day in and day out.

What are the biggest opportunities and challenges of working with location data in Fintech?

The biggest challenge is the awareness of the fintech sector in knowing that data exists and is available. I think the biggest opportunity is incorporating it into the day-to-day operations. There are monitoring systems and a lot of internal datasets that the fintech sector generally can leverage combined with location data. In my field, in anti-money laundering, the number one purpose of having this program is to help law enforcement, identify illegal activity and so, bringing together location data with financial data is extremely valuable.

What are the advantages of using Location Intelligence in Financial Services?

There is a huge advantage for financial institutions to understand location data, not just within anti-money laundering but also in marketing opportunities, in credit risk opportunities, understanding where people live and the community around them is key to bringing true knowledge to the business model.

What results did Enigma discover using CARTO on their Sanction Tracker project?

So Enigma partnered with CARTO to put together the sanctions tracker and from an industry perspective, I think everybody understands sanctions. I think there are two main takeaways in that. One is though you understand what sanctions are, seeing it mapped out in geographic location form, allowed us to see the breadth of the sanctions violations and where the sanctioned individuals and entities existed. And also even, I would say more importantly, is understanding the connections between those sanctioned individuals and entities, because you could start to see people at the same addresses, entities at the same addresses, and so, seeing the widespread kind of geographical impact of the sanctions. And then also the connections between those individuals and entities on the sanctions list.

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