![]() ![]() ![]() If you download our WhitePaper on our webpage, we collect your first and last name, email address, phone number, job title and organization name so we may send you the WhitePaper and information on our products and services. If you contact us through our Contact page, we collect your name and email address so we can respond to you. When you are using the website you may provide us your Personal Data. Provided directly by business contacts and/or via public search f GDPR).īusiness contacts, contact information or any publicly available data regarding a position in a company (“CRM Data”) Our legitimate interest to perform our services and produce the EFI (Art. Publicly available information relevant to the Elucidate FinCrime Index (“EFI”) - (“Public Data”) Provided directly by our Clients through and in accordance to contractual agreementsĭata Processing Agreement signed with our Clients. b GDPR).Ĭlient's Personal Data and information (“Client Data”) Processing is necessary for the performance of a contract or to take steps to enter into a contract (Art. Provided directly by any job candidate, collected through the website Personal Data from job candidates (“HR Data”) a GDPR) for Statistic and Marketing cookies and Legitimate Interest for Necessary cookies (Art. This allows respondent and correspondent banks, regulatory agencies and regulated entities, trading partners and counterparties to determine financial crime risk on a systemic basis.Data from website visitors to (“Website Data”)ĭata collected through our Contact Page and/or when downloading our WhitePaper and/or through our website CookiesĬonsent (Art. Shelley Zhuang, Founder and Managing Partner at 11.2 Capital, noted that “The ability to assess financial crime risk has been a subjective and unstandardized process, whereas Elucidate utilizes a structured framework built upon inherent risk factors, their impact, and enforcement actions to objectively quantify financial crime risk. The investors of this round see maximum potential in Elucidate’s ambitions as part of a broader shift towards the application of deeptech in financial services. 11.2 Capital, as well as our other investors, bring both capital and expertise to this transformational objective.” The work of fully partnering with our users to enable them to move from basic risk detection to proactive risk prevention, however, requires ongoing investment in data analytics and machine learning capabilities. Shane Riedel, co-founder and CEO at Elucidate, believes now is the right time to onboard investors: “Since launching in 2019, Elucidate has expanded data analytics coverage to over 2,500 financial institutions. The repeatability of our algorithm allows us to set up a de facto financial crime risk baseline in the industry with speed and accuracy.“ Applying deep learning in a dataset that is unparalleled in the industry allows us to see financial crime patterns that are not visible to the human eye. We apply methods that financial analyst John Moody could only have dreamed of when he started modelling risk a century ago. Unlike most financial crime offerings, which guide users to manually determine reactions to potential financial crime, the EFI uses data analysis to anticipate and prevent financial crime.įilipe Garcia, co-founder and CTO at Elucidate, explains how the platform leverages cutting-edge technology to effectively manage risk: “We are in a unique position to be able to digitise an antiquated status quo. The EFI, built using probabilistic modelling and machine learning, uses data to score financial crime risk against an objective industry baseline. The funding will enable Elucidate (2018) to further develop the company’s flagship product, the Elucidate FinCrime Index (EFI), and its ability to measure financial crime risk. ![]() ![]() Other participants in the round include Seed X Liechtenstein, Apex Ventures, Big Start Ventures and SixThirty Ventures. Today Elucidate, the Berlin-based financial crime risk quantification agency, has announced closing a €2.5 million investment led by Silicon Valley-based 11.2 Capital. ![]()
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