Elucidate team
Editorials from the Team
Pricing financial crime risk
Banks
Pricing financial crime risk
A sustainable and inclusive approach to cross-border payments
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Elucidate team
April 19, 2023
 · 
 min read
What are the risks and limitations of the correspondent banking system?
Network management
What are the risks and limitations of the correspondent banking system?
In this article, we discuss the risks in correspondent banking and how to overcome these to benefit your bank and bolster correspondent relationships.
Elucidate team
February 9, 2023
 · 
8
 min read
Why a de-risking strategy increases your institution's risk
Compliance
Why a de-risking strategy increases your institution's risk
De-risking emerged as an unintended result of banks with limited alternatives to new regulations. Technology is the strongest ally to fix this.
Elucidate team
February 9, 2023
 · 
4
 min read
What the sanctions on Russia mean for financial institutions
Banks
What the sanctions on Russia mean for financial institutions
Announcing sanctions is one thing, ensuring that banks are putting them in place effectively is another challenge altogether. What can banks expect?
Elucidate team
February 9, 2023
 · 
6
 min read
What the Danske Bank scandal can teach us about financial crime risk management in correspondent banking
Financial Crime
What the Danske Bank scandal can teach us about financial crime risk management in correspondent banking
Danske Bank recently pleaded guilty to charges of money laundering. This scandal has significant implications for financial crime risk management.
Elucidate team
February 9, 2023
 · 
6
 min read
Unlocking the Power of the Network: Rethinking the Financial Crime Risk Framework
Financial Crime
Unlocking the Power of the Network: Rethinking the Financial Crime Risk Framework
The current framework for managing AML risk is underperforming despite the investments being made in terms of raw compliance spend.
Elucidate team
February 9, 2023
 · 
6
 min read
We found over thirty new or expanded tasks the EU AMLA will be asked to take on
Governance
We found over thirty new or expanded tasks the EU AMLA will be asked to take on
The new AMLA is facing a growing list of expectations. How could the private sector help strengthen standards in the EU?
Elucidate team
February 9, 2023
 · 
2
 min read
Five barriers to banking innovation and how to overcome them
Banks
Five barriers to banking innovation and how to overcome them
Whilst innovation is challenging, it is also very much needed. What is preventing financial institutions from embracing innovation fully?
Elucidate team
February 9, 2023
 · 
5
 min read
Trust and transparency for a fairer financial ecosystem in the MENA region
Financial Crime
Trust and transparency for a fairer financial ecosystem in the MENA region
Last month, our CEO Shane Riedel moderated a panel discussion at the 2nd MENA RegTech Virtual Executive Boardroom Conference.
Elucidate team
February 9, 2023
 · 
7
 min read
The Enterprise Wide Risk Assessment (EWRA): From ticking the box to an effective Zero Line of Defence
Regulators
The Enterprise Wide Risk Assessment (EWRA): From ticking the box to an effective Zero Line of Defence
Lithuania's Center of Excellence in Anti-Money Laundering invited our Head of Public Sector to address the topic of Enterprise Wide Risk Assessments.
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Elucidate team
February 9, 2023
 · 
4
 min read
Standardizing financial crime risk assessments: The new approach by the EU
Regulators
Standardizing financial crime risk assessments: The new approach by the EU
How a proposal for a single, harmonised supervisory assessment methodology for banks in the EU can change everything.
Elucidate team
February 9, 2023
 · 
5
 min read
Sanctions risks: KYC challenges and how to overcome them
Financial Crime
Sanctions risks: KYC challenges and how to overcome them
From tech and operational challenges, to manual KYC and AML processes - here's how to tackle these challenges when evaluating sanctions risk.
Elucidate team
February 9, 2023
 · 
7
 min read
Overcoming experimenter’s bias to better manage financial crime risk
FinTech
Overcoming experimenter’s bias to better manage financial crime risk
Financial crime is pervasive, dynamic, and often on such a scale that even the most apparently safe industries and regions are open for exploitation.
Elucidate team
February 9, 2023
 · 
5
 min read
Shane Riedel and Filipe Garcia: An interview with Elucidate's founders
Financial Crime
Shane Riedel and Filipe Garcia: An interview with Elucidate's founders
The startup founders share their perspective on Elucidate's genesis, evolution and vision
Elucidate team
February 9, 2023
 · 
3
 min read
Preventing financial crime with a data-driven approach
FinTech
Preventing financial crime with a data-driven approach
Information sharing and collaboration across all concerned parties within the financial system is critical to successfully combating financial crime.
Elucidate team
February 9, 2023
 · 
3
 min read
Our take on the results of FATF’s cross-border payments survey
Compliance
Our take on the results of FATF’s cross-border payments survey
Understanding the key findings and challenges from the FATF Survey
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Elucidate team
February 9, 2023
 · 
5
 min read
Luanda leaks: Reflections on fixing a flawed system
Financial Crime
Luanda leaks: Reflections on fixing a flawed system
The revelations about the conduct and criminal activity of Isabel dos Santos has brought to the fore familiar issues in the financial crime space.
Elucidate team
February 9, 2023
 · 
3
 min read
How financial crime scandals reveal the need for risk monitoring tech
Financial Crime
How financial crime scandals reveal the need for risk monitoring tech
Leaks and whistleblowers have become a usual method by which many large-scale financial crime events are uncovered. What can we learn from this?
Elucidate team
February 9, 2023
 · 
3
 min read
Integrating modern tech into your control framework
Integrating modern tech into your control framework
Within the banking and risk management industry, new tech should be viewed as an augmentation to improve team function and efficiency.
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Elucidate team
February 9, 2023
 · 
4
 min read
How poor financial crime risk management can be a career killer
Financial Crime
How poor financial crime risk management can be a career killer
Without a right strategy and technology to support it, executives and Board Members put themselves at risk of being found liable for financial crime.
Elucidate team
February 9, 2023
 · 
3
 min read
How COVID-19 exposed the need for innovation in correspondent banking
FinTech
How COVID-19 exposed the need for innovation in correspondent banking
Times of crisis often lead to an odd mix of tragedy and innovation, and the global COVID-19 pandemic has been no exception.
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Elucidate team
February 9, 2023
 · 
3
 min read
FATF reports on technology & AML: what we’ve learned (and what we’re missing)
Regulators
FATF reports on technology & AML: what we’ve learned (and what we’re missing)
FATF has launched two new reports looking at the use of technology for anti-money laundering purposes. What does this mean for the industry?
Elucidate team
February 9, 2023
 · 
4
 min read
Here is a better way to manage your bank's exposure to the Pandora Papers leak
Compliance
Here is a better way to manage your bank's exposure to the Pandora Papers leak
Can compliance teams really be expected to go through 11.9 million Pandora Papers' files by themselves?
Elucidate team
February 9, 2023
 · 
4
 min read
Here’s how the EU can enlist the private sector to tackle financial crime
Financial Crime
Here’s how the EU can enlist the private sector to tackle financial crime
EU has a critical window of opportunity to put in place innovative yet feasible solutions to strengthen Europe’s protections against financial crime.
No items found.
Elucidate team
February 9, 2023
 · 
3
 min read
Germany's FATF mutual evaluation report: a case for better data and analytics
Regulators
Germany's FATF mutual evaluation report: a case for better data and analytics
The FATF has released their assessment of Germany's AML/CFT efforts, a 324 page report, which calls for a more unified data and analytics approach.
Elucidate team
February 9, 2023
 · 
6
 min read
Financial Crime is Financial Risk. Why is it not managed as such?
Financial Crime
Financial Crime is Financial Risk. Why is it not managed as such?
Banks don't view the work of compliance departments as providing financial value but rather as a “cost center”. This view can be a big mistake.
Elucidate team
February 9, 2023
 · 
7
 min read
Empowering respondent banks in the fight against financial crime
Network management
Empowering respondent banks in the fight against financial crime
All too often, highly capable respondent banks are left disempowered by the industry's commonplace top-down financial crime risk management practices.
Elucidate team
February 9, 2023
 · 
5
 min read
Correspondent banking: when is digital technology truly transformative in tackling financial crime?
Financial Crime
Correspondent banking: when is digital technology truly transformative in tackling financial crime?
“Digital transformation” is a banking buzzword. But when is it truly effective in the fight against financial crime? We explain what you need to know.
Elucidate team
February 9, 2023
 · 
6
 min read
Correspondent banking: how transparent benchmarking can avoid unnecessary de-risking and maximise opportunities
Financial Crime
Correspondent banking: how transparent benchmarking can avoid unnecessary de-risking and maximise opportunities
De-risking can often be one of the first responses to working with banks in high risk categories. But does it have to be?
Elucidate team
February 9, 2023
 · 
6
 min read
Benchmarking financial crime risk for individual firms
Compliance
Benchmarking financial crime risk for individual firms
The standard AML toolkit is being put under the spotlight. What is the missing piece of the anti-money laundering puzzle?
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Elucidate team
February 9, 2023
 · 
3
 min read
Applying the rating agency model to financial crime
Compliance
Applying the rating agency model to financial crime
In looking towards the future of the financial industry, it may be useful to look to the past, and the evolution of the credit risk industry
Elucidate team
February 9, 2023
 · 
5
 min read
A technology-driven approach to managing sanctions risk for financial institutions
Banks
A technology-driven approach to managing sanctions risk for financial institutions
The current sanctions landscape is incredibly fast-moving, showing little sign of slowing down. Using innovative tools can help firms navigate it.
Elucidate team
February 9, 2023
 · 
4
 min read
A probabilistic approach to outcomes in the anti-financial crime
Financial Crime
A probabilistic approach to outcomes in the anti-financial crime
When it comes to preventing financial crime, today’s banking industry is stuck in a cycle of endless investments, and limited returns.
Elucidate team
February 9, 2023
 · 
5
 min read
3 SupTech milestones to look out for until 2023 and why they will matter
Financial Crime
3 SupTech milestones to look out for until 2023 and why they will matter
"When did criminals start to realise the best way to steal millions was to just make their transactions very very boringly complicated."
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Elucidate team
February 9, 2023
 · 
4
 min read
5 reasons why the global anti-money laundering (AML) system is failing financial institutions
Financial Crime
5 reasons why the global anti-money laundering (AML) system is failing financial institutions
99% of money laundering proceeds remains in criminal hands - here are the key reasons why global AML/CFT controls are not working.
Elucidate team
February 9, 2023
 · 
6
 min read
5 reasons why better compliance data equals a better correspondent banking relationship
Compliance
5 reasons why better compliance data equals a better correspondent banking relationship
Here's how you can gather reliable compliance data to inform your self-assessment of risk performance and build better correspondent relationships.
Elucidate team
February 9, 2023
 · 
7
 min read
A more effective risk management in correspondent banking through data
FinTech
A more effective risk management in correspondent banking through data
[Case Study] Learn about some of the major challenges faced by financial institutions with extensive correspondent banking relationships and networks.
No items found.
Elucidate team
February 9, 2023
 · 
5
 min read
5 steps for conducting due diligence on your correspondent bank
Banks
5 steps for conducting due diligence on your correspondent bank
In this article, we explain how to conduct a thorough due diligence process on your correspondent bank in 5 easy steps.
Elucidate team
February 9, 2023
 · 
8
 min read
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