About Elucidate

Elucidate provides a regulated, universal benchmark for quantifying and scoring financial crime risk through a no-code Risk Module Builder that integrates with existing data systems. This platform addresses the challenge of data overload and siloed information, enabling institutions to streamline compliance processes and make informed risk decisions efficiently.

```xml <problem> Financial institutions face challenges in efficiently evaluating financial crime risk due to data overload, siloed information, and the difficulty of meeting evolving regulatory requirements. Existing risk assessment processes often involve broken workflows and a lack of a single source of truth, hindering growth opportunities. </problem> <solution> Elucidate offers an AI-powered risk platform that provides a regulated, universal benchmark for quantifying and scoring financial crime risk. The platform features a no-code Risk Module Builder that integrates with existing customer and transaction data systems, enabling institutions to build customized risk workflows tailored to their specific needs. By providing a unified view of internal exposure and counterparty risk, Elucidate streamlines compliance processes and facilitates informed risk decisions. The platform connects to existing tools via API or CSV file upload, reducing friction across client lifecycles and providing a 360-degree view of financial crime risk profiles. </solution> <features> - No-code Risk Module Builder for customized risk workflows - Integration with existing data systems via API or CSV file upload - Regulated risk-scoring system for internal exposure and counterparty risk - 360-degree view of financial crime risk profiles across 9 key risk themes: Sanctions, Transactional Activity, Organizational Reputation, Employee Conduct, Bribery and Corruption, Geographic Footprint, Customer Portfolio, Products and Channels, and Governance Framework - Portfolio assessment tool and instant PDF risk profile reports for sharing risk decision outcomes - Data Completeness, Activity Checks, and Investigative Analysis modules - API integration with KYC, Fraud, and third-party systems - FinCrime Risk Monitor to compare against others in the market </features> <target_audience> Elucidate primarily serves risk, operations, and strategy teams within network banks and domestic banks combating financial crime, as well as financial institutions seeking to automate compliance, KYB, and KYC processes. </target_audience> ```

What does Elucidate do?

Where is Elucidate located?

Elucidate is based in Berlin, Germany.

When was Elucidate founded?

Elucidate was founded in 2018.

How much funding has Elucidate raised?

Elucidate has raised 14350000.

Location

Berlin, Germany

Founded

2018

Funding

14350000

Employees

22 employees

Major Investors

AV8 Ventures

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Elucidate

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Executive Summary

elucidate.co 3K+

Crunchbase

Founded 2018 – Berlin, Germany

Funding

Estimated Funding

$10M+

Major Investors

AV8 Ventures

Team (20+)

No team information available.

Company Description

Problem

Financial institutions face challenges in efficiently evaluating financial crime risk due to data overload, siloed information, and the difficulty of meeting evolving regulatory requirements. Existing risk assessment processes often involve broken workflows and a lack of a single source of truth, hindering growth opportunities.

Solution

Elucidate offers an AI-powered risk platform that provides a regulated, universal benchmark for quantifying and scoring financial crime risk. The platform features a no-code Risk Module Builder that integrates with existing customer and transaction data systems, enabling institutions to build customized risk workflows tailored to their specific needs. By providing a unified view of internal exposure and counterparty risk, Elucidate streamlines compliance processes and facilitates informed risk decisions. The platform connects to existing tools via API or CSV file upload, reducing friction across client lifecycles and providing a 360-degree view of financial crime risk profiles.

Features

No-code Risk Module Builder for customized risk workflows

Integration with existing data systems via API or CSV file upload

Regulated risk-scoring system for internal exposure and counterparty risk

360-degree view of financial crime risk profiles across 9 key risk themes: Sanctions, Transactional Activity, Organizational Reputation, Employee Conduct, Bribery and Corruption, Geographic Footprint, Customer Portfolio, Products and Channels, and Governance Framework

Portfolio assessment tool and instant PDF risk profile reports for sharing risk decision outcomes

Data Completeness, Activity Checks, and Investigative Analysis modules

API integration with KYC, Fraud, and third-party systems

FinCrime Risk Monitor to compare against others in the market

Target Audience

Elucidate primarily serves risk, operations, and strategy teams within network banks and domestic banks combating financial crime, as well as financial institutions seeking to automate compliance, KYB, and KYC processes.