Elucidate’s Manifesto

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Why?

Our paradigm and the truths which form the basis of our approach all link back to an unsustainable status quo, due to three key contradictions:

1
The market is stuck in a cycle of endless investment and limited returns

Banks and other entities have spent billions without making discernible or demonstrable progress in preventing crimes such as money laundering, terrorist financing, sanctions, cybercrime, fraud, corruption and tax evasion.

2
Large volumes of available data remain untapped

The financial services industry has an enormous amount of data available, yet it remains an untapped resource when it comes to FinCrime risk management.

3
De-risking increases risk

As a result of these inefficiencies, and the inability to adequately measure risk, institutions have been exiting entire markets, which increases risk overall as informal opaque payment mechanisms become the alternative of choice.

Ultimately, FinCrime remains rampant and undermines societies and markets

According to the UNODC, criminal activity accounts for nearly 4% of global GDP annually, meaning that in 2018 around €5 trillion was lost, stolen or otherwise illicitly generated, often at the direct expense of the poorest and most vulnerable.

There is a universal appetite for a better option.

How?

Shift the paradigm and focus on FinCrime risk

Compliance is achieved by focusing on FinCrime risk and taking commensurate mitigating actions. Compliance is a secondary factor which exists to measure the results of FinCrime risk management against legal and regulatory expectations.

Score FinCrime risk

With a combination of risk quantification, data analysis, machine learning and modeling, FinCrime risk can be quantified, predicted and clearly scored – as any other risk.

Manage FinCrime risk

We provide institutions with sustainable and appropriate risk management strategies, including detailed, customised direction on measures needed to lower FinCrime risk levels.

Price FinCrime risk

Once FinCrime risk is clearly scored, relationships and transactions can be priced to account for variations in cost and to enable price differentials.

What?

We use data to monitor FinCrime risk and to optimise FinCrime risk management as well as compliance via automation.

1
Automation

We automate the monitoring of FinCrime controls and their effectiveness at mitigating inherent risks.

2
Risk management

We enable risk management decisions to be fact-based.

3
Optimisation

We use data to create a continuous feedback loop that enables senior management to see the impact of their decisions quickly and concretely.

Contact us

Fill out the form or send us an email

contact@elucidate.co

Kolonnenstraße 8
10827 Berlin, Germany