Ramp: From KYB to Fraud Intelligence
Ramp needed KYB verification that could keep pace with hypergrowth. What started as business verification expanded into address intelligence, negative news screening, and agent-enhanced due diligence. Today, six Enigma products run in production.
.svg){kind=logo}
01
Scaling Verification With the Business
As a financial operations platform, Ramp issues corporate cards and expense management tools to businesses, with compliance requirements dictated by banking partners: validate the business, confirm the TIN, flag anything that poses fraud risk. Non-negotiable.
When Ramp first engaged Enigma, they were processing a few hundred applications per month. Today it's thousands, with plans to double again. A pipeline that works at one scale doesn't necessarily hold at ten times the volume. Every application that stalls in manual review, not because the data doesn't exist, but because the pipeline can't find it, adds friction that compounds with growth.
02
The Evaluation
In November 2023, Ramp initiated a conversation with Enigma. Most KYB providers rely on Secretary of State data alone. Enigma's entity resolution goes further, linking business records across multiple verified sources: SOS filings, government registrations, tax records, and key business directories. The differentiator isn't just the data. It's the linking that makes it actionable.
Ramp sent 4,000 real applications for testing.
Technical discussions went deep: Levenshtein distance thresholds for fuzzy name matching, address normalization, entity resolution across inconsistent state filing formats. Then Enigma built two new capabilities directly from the evaluation: address verification tasks and name verification tasks calibrated to Ramp's input patterns.
This wasn't off-the-shelf delivery. Enigma's team translated Ramp's fraud and compliance requirements into product improvements shaped by operational needs.
03
The Integration
Ramp was already running verification through an orchestration partner, routing requests across vendors in a waterfall. Adding Enigma meant configuring a new data source, not building a new integration.
Enigma entered with a pay-for-results model: charges apply when Enigma returns a verified result, not per API call regardless of outcome. At Ramp's volume, the difference is material. Champion/challenger testing on live traffic validated Enigma against incumbents before full cutover. TIN/EIN verification was added during integration using real-time IRS matching through the same workflow, with no separate vendor or contract.
04a
Address Intelligence
Registered agent addresses are the single biggest driver of manual reviews in Ramp's onboarding pipeline. Businesses registered at CMRAs, registered agents, and coworking spaces pass basic verification because the address is real, but they don't tell you whether there's a physical business behind it.
Enigma built virtual address classification for the integration, including registered agent, CMRA, and non-physical address detection. For businesses with only a virtual registered address, Enigma can surface a verified physical address, turning a potential false positive into a resolvable case.
| Finding | Value |
|---|---|
| Manual reviews triggered by address failures | ~87% |
| False positives in sample of ~50 flagged addresses (Nov 2025) | ~50% |
"We know the process wouldn't scale efficiently at our growth targets. We're targeting a 50 percent reduction in manual review across the whole pipeline."— Alex De Jesus, Head of Fraud Management, September 2025
04b
Faster and Deeper Enhanced Due Diligence
For enhanced due diligence, the challenge is different. Each business is different, and investigations depend on specific risk signals. Joshua Mungillo, a compliance analyst on Ramp's KYC/BSA/CIP team, built his due diligence workflow around Enigma's AI-enhanced research tool, a natural language interface combining open-source intelligence with Enigma's Gov Archive: billions of federal, state, and municipal records including OSHA violations, business inspections, professional licenses, and regulatory filings sourced directly from government agencies.
"We're enhancing our EDD program and looking at Enigma to help streamline it. The tool recommended not to do business with this customer, we can't even verify they exist, the beneficial owners don't exist. We make our own decision on the Ramp side, but it gave me the leverage and the sourced evidence to help in saying no."— Joshua Mungillo, Compliance, October 2025
Why This Worked
The impact extended beyond individual investigations. Several members of the compliance team now use the tool for their reviews, scaling capacity without proportionally growing headcount.
01
The pipeline scaled with the business
Ramp's application volume grew roughly tenfold over the engagement. Enigma's real-time API, versus the legacy vendor's asynchronous model, meant verification scaled with volume, not against it.
02
Linked data, not just more data
Every KYB provider accesses SOS filings. Enigma's entity resolution links records across multiple verified sources, resolving businesses that single-source providers miss and delivering richer context for edge cases.
03
Verification became prevention
What started as "does this business exist?" expanded into virtual address intelligence, negative news screening, physical address pre-fill, and AI-enhanced due diligence, turning verification data into fraud signals.
04
A partner, not just a vendor
The collaborative pattern that started during the evaluation, building capabilities from Ramp's specific requirements, continued through production and expansion. Address verification, negative news screening, and the EDD tool all emerged from real challenges met with solutions that worked at scale.
About Ramp
Ramp is a financial operations platform designed to save companies time and money. Its all-in-one solution combines corporate cards and expense management, bill payments, procurement, travel booking, treasury, and automated bookkeeping with built-in intelligence to maximize the impact of every dollar and hour spent. Over 50,000 organizations have saved $10 billion and 27.5 million hours with Ramp. Founded in 2019, Ramp powers over $100 billion in purchases annually.
About Enigma
Enigma is the most reliable, trusted source of data on businesses in the United States. Built on industry-leading entity resolution and the most comprehensive collection of trusted U.S. government data, Enigma powers KYB, screening and AML compliance, merchant payment risk and go-to-market account-based data enrichment. Enigma provides ground-truth business identity and financial signal data that financial institutions and AI systems rely on to understand and verify businesses.