--- title: "Elucidate named to 'Inclusive Fintech 50' cohort for 2021 – Elucidate" description: "The Inclusive Fintech 50 recognises fintechs driving innovation in underserved segments and is sponsored by Visa, MetLife Foundation, Jersey Overseas Aid and Comic Relief" url: https://elucidate.co/press-release/elucidate-named-to-inclusive-fintech-50-cohort-for-2021 --- # Elucidate named to 'Inclusive Fintech 50' cohort for 2021 Press Release Elucidate named to 'Inclusive Fintech 50' cohort for 2021 The Inclusive Fintech 50 recognises fintechs driving innovation in underserved segments and is sponsored by Visa, MetLife Foundation, Jersey Overseas Aid and Comic Relief - The competition recognises fintechs driving innovation in underserved segments - The selection is done by an independent judging panel made up of industry experts across venture capital, fintech, banking, and other sectors - The competition is sponsored by Visa, MetLife Foundation, Jersey Overseas Aid and Comic Relief **_Berlin, Germany, 27 October 2021 —_** Elucidate, the financial crime risk scoring platform, is thrilled to announce its inclusion to the Inclusive Fintech 50. The Inclusive Fintech 50 recognises fintechs driving innovation in underserved segments. The initiative is a collaboration between global corporations, foundations, impact investors, and nonprofits committed to creating a financial sector that enables low- and moderate-income populations to build resilience, expand their economic opportunities, and plan for the future. The competition is managed by the Center of Financial Inclusion (CFI), and counts Visa, MetLife Foundation, Jersey Overseas Aid and Comic Relief amongst its sponsors. The winners of Inclusive Fintech 50 are chosen each year through a rigorous selection process that evaluates hundreds of companies and includes a review by an [independent panel](https://www.inclusivefintech50.com/2021-judging-panel) of industry leading experts - including founders, investors and advocates. Elucidate was selected from this competitive pool based on four main criteria: Innovation, Inclusivity, Scale Potential and Market Traction. About the recognition, Shane Riedel, CEO of Elucidate, said: “We are delighted to have been selected as part of the Inclusive FinTech 50. Flawed implementation of financial crime rules and regulations has too often resulted in damaging and unnecessary financial exclusion, for example reducing international trade for small business and increasing the cost of remittances. The market can and must move towards a nuanced, data-driven approach to managing financial crime that enables greater financial inclusion whilst also reducing the social costs of financial crime." The companies that complete the list, in this third edition of the initiative since it started in 2019,  come from more than 25 different countries and operate in dozens of markets around the world, demonstrating their global impact. Find the full ['Inclusive Fintech 50' list for 2021](https://www.inclusivefintech50.com/blog/2021/10/27/inclusive-fintech-50-announces-2021-winners) \_\_\_\_ **About Elucidate:** Elucidate is a financial crime risk quantification platform, regulated by the BaFin and ESMA, providing the market’s only authorised financial crime benchmark. We build trust between financial institutions and their counterparties, and enable them to develop a stronger governance, risk and compliance narrative to reduce financial risk. From our base in Siliconallee, one of Berlin’s most diverse teams works with global financial institutions and regulators with the goal of identifying, minimising, and pricing their financial crime risk exposure. Updates Press releases Every new update from us, from new product launches to new partnerships, can be found here. [PRESS](https://elucidate.co/press-release/benchmark-administrator-press) [The Elucidate FinCrime Index becomes the market’s first regulated financial crime risk benchmark](https://elucidate.co/press-release/benchmark-administrator-press) A critical step taken in establishing the standard for measuring and analysing financial crime risk Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/board-announcement) [As it joins the plug and play accelerator programme, Elucidate introduces its Advisory Board](https://elucidate.co/press-release/board-announcement) Elucidate would like to welcome its new Advisory Board members, and is pleased to announce its selection for Plug and Play’s prestigious FinTech accelerator Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/elucidate-expands-global-presence-with-miami-office-to-bring-financial-crime-benchmark-to-us-market) [Elucidate expands global presence with Miami office to bring financial crime benchmark to US market](https://elucidate.co/press-release/elucidate-expands-global-presence-with-miami-office-to-bring-financial-crime-benchmark-to-us-market) Former HSBC Head of Financial Crime Compliance, Ben Arber, will head up US business development. Elucidate employs more than 35 people across Europe and has raised €5.7M in funding to date Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/elucidate-joins-berlin-groups-openfinance-advisory-group-board) [Elucidate joins Berlin Group’s openFinance Advisory Group & Board](https://elucidate.co/press-release/elucidate-joins-berlin-groups-openfinance-advisory-group-board) Elucidate, the financial crime risk management platform, has joined the Berlin Group’s openFinance Advisory Group & Board, an initiative set up to standardise and shape the evolution of openFinance adoption. Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/elucidate-launches-industry-first-product-for-pricing-financial-crime-risk-2) [Elucidate launches industry-first product for pricing financial crime risk](https://elucidate.co/press-release/elucidate-launches-industry-first-product-for-pricing-financial-crime-risk-2) Elucidate worked alongside Standard Chartered Bank to build this framework, which uses machine learning technology coupled with a bank’s own data to create a numerical financial crime risk score. Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/elucidate-launches-open-database-of-financial-crime-risk-scores-in-the-banking-industry) [Elucidate launches open database of financial crime risk scores in the banking industry](https://elucidate.co/press-release/elucidate-launches-open-database-of-financial-crime-risk-scores-in-the-banking-industry) The Elucidate FinCrime Risk Monitor (EFRM) is an open database for scoring the financial crime risk vulnerability of financial institutions Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/elucidate-raises-8-million-to-help-banks-counter-surging-financial-crim) [Elucidate raises $8 million to help banks counter surging financial crime](https://elucidate.co/press-release/elucidate-raises-8-million-to-help-banks-counter-surging-financial-crim) The funding comes at a critical time for the financial sector currently facing a dramatic increase in financial crime caused by the pandemic and exacerbated by growing instability in Eastern Europe. Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/elucidate-raises-eu2-5m-financing-round-to-build-the-moodys-of-financial-crime-risk) [Elucidate raises €2.5m financing round to build the Moody’s of financial crime risk](https://elucidate.co/press-release/elucidate-raises-eu2-5m-financing-round-to-build-the-moodys-of-financial-crime-risk) Elucidate’s regulated benchmark enables industry leading financial institutions and regulators to score, manage and price FinCrime risk Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/elucidate-schliesst-eu2-5-millionen-finanzierungsrunde-ab-um-das-moodys-der-risikobewertung-von-finanzkriminalitat-zu-werden) [Elucidate schließt €2.5 Millionen Finanzierungsrunde ab, um das Moodys der Risikobewertung von Finanzkriminalität zu werden](https://elucidate.co/press-release/elucidate-schliesst-eu2-5-millionen-finanzierungsrunde-ab-um-das-moodys-der-risikobewertung-von-finanzkriminalitat-zu-werden) Finanzierungsrunde angeführt von Frontline Ventures zusammen mit SeedX Liechtenstein, APEX Ventures und Big Start Ventures Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/financial-crime-expert-david-lewis-joins-the-board-at-elucidate-2) [Financial crime expert David Lewis joins the board at Elucidate](https://elucidate.co/press-release/financial-crime-expert-david-lewis-joins-the-board-at-elucidate-2) Lewis is a leading advocate for more effective action at a global level to tackle money laundering and has spoken widely about the importance of and pressing need for reform Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/financial-crime-risk-scoring-platform-elucidate-earns-iso-27001-security-certification) [Financial crime risk scoring platform Elucidate earns ISO 27001 Security Certification](https://elucidate.co/press-release/financial-crime-risk-scoring-platform-elucidate-earns-iso-27001-security-certification) The certification was granted after meeting the requirements for establishing, implementing, and maintaining an information security management system (ISMS) as required by the International Organization for Standardization (ISO) Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/fraugster-and-elucidate-announce-partnership-to-tackle-financial-crime) [Fraugster and Elucidate announce partnership to tackle Financial Crime](https://elucidate.co/press-release/fraugster-and-elucidate-announce-partnership-to-tackle-financial-crime) Integration will provide customers with access to global sanction lists Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/ing-group-commerzbank-and-nordea-lead-financial-crime-risk-global-ranking) [ING Group, Commerzbank, and Nordea lead financial crime risk global ranking](https://elucidate.co/press-release/ing-group-commerzbank-and-nordea-lead-financial-crime-risk-global-ranking) Elucidate's FinCrime Risk Monitor (EFRM) ranking is based on the company's open database for scoring the financial crime risk vulnerability of financial institutions Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/investment-announcement) [Elucidate raises €2.5 million to further develop its Financial Crime Index](https://elucidate.co/press-release/investment-announcement) Silicon Valley-based 11.2 Capital leads seed funding into the expansion of the Index’s quantification and prediction capabilities Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/micheal-mcvicker-announcement) [Elucidate welcomes Michael McVicker as Head of Business Development for the Americas](https://elucidate.co/press-release/micheal-mcvicker-announcement) Former Leading Banker at HSBC and Standard Chartered Bank takes charge of Elucidate’s market coverage for the Americas Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/raiffeisen-bank-international-partners-with-elucidate-to-deploy-standardised-financial-crime-benchmarking) [Raiffeisen Bank International partners with Elucidate to deploy standardised financial crime benchmarking](https://elucidate.co/press-release/raiffeisen-bank-international-partners-with-elucidate-to-deploy-standardised-financial-crime-benchmarking) RBI deploys Elucidate’s financial crime risk quantification technology using automation and machine learning to remain ahead of financial crime Nov 9, 2024  · Nov 9, 2024  min read [PRESS](https://elucidate.co/press-release/tenurex-and-elucidate-partner-to-increase-financial-inclusion-worldwide) [TenureX and Elucidate partner to increase financial inclusion worldwide](https://elucidate.co/press-release/tenurex-and-elucidate-partner-to-increase-financial-inclusion-worldwide) Both companies share the vision that everyone in emerging markets deserves the right to participate in global financial markets and have united to tackle the outdated framework in corresponding banking Nov 9, 2024  · Nov 9, 2024  min read [Read all Press Releases](https://elucidate.co/press-list) Journalist? 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