- 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 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
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.