Elucidate GmbH

Elucidate is an independent ratings agency for financial crime risk. The startup makes it simple to score, manage and price FinCrime risk through the Elucidate FinCrime Index (EFI), an automated platform for financial crime risk management developed in partnership with global correspondent banks.

The proprietary risk model uses available data - including but not limited to employee data, transactions, sanction screening, and customer data - to score financial crime risk across a range of risk themes. Risk themes include employee conduct, bribery and corruption, organisation reputation, products and channels, and customer portfolio, amongst others.

Elucidate raised a €2.5m Seed round from Seed X Liechtenstein. in June 2020. The startup stated it would use the funding to further develop its FinCrime Index.