Financial Crime Risk Scoring Firm, Elucidate, Expands Operations into US with New Miami Office

Elucidate, the financial crime risk scoring firm, has announced its business expansion into the US markets with an office in Miami, as part of the company’s goal to firmly establish itself as the international standard for benchmarking financial crime risk.

Its US head offices confirm Elucidate’s sharp focus on the Americas as a key target for its services, which have been designed to empower banking institutions’ compliance teams with actionable intelligence into financial crime risk. These tools help firms with analyzing key information across their network within a data-centered framework, which can save considerable time and money. As the market’s authorized financial crime benchmark, the Elucidate FinCrime Index (EFI) is being regulated by the BaFin and ESMA.

Elucidate’s US launch follows the appointment of banking compliance professional Ben Arber, the former HSBC Head of Financial Crime Compliance, as Elucidate’s Head of Sales for the Americas, earlier in 2021.

Arber brings over 2 decades of professional experience in senior compliance roles for HSBC in Asia, Europe, and North America, and has been tasked with building up Elucidate’s operations in the US region since June of this year.

Elucidate’s business expansion into the US comes at a time when Miami has notably emerged as one of the nation’s major technology hubs, with numerous investors and startups moving or opening up their business offices in the city this year.

Head of Sales for the Americas, Ben Arber, stated:

“We considered more traditional hubs like New York and San Francisco but are convinced Miami is the best place to grow Elucidate’s operations. Not only is the city going through a technology boom, which we are excited to be a part of, but its location enables us to better serve customers in the Caribbean and Latin America – two regions that will greatly benefit from our platform.”

A data-science firm at its core, the new office confirms Elucidate’s ability to adhere to applicable US data regulations and offer customer support in the region.

Filipe Garcia, Elucidate’s CTO and Co-Founder, remarked:

“As an ISO certified company, data security and management are priorities for our operation and one of the reasons our customers trust us with their sensitive data. Our new offices in Miami will help us maintain our standards, comply with all data protection regulations, and provide localized support to new and existing customers.”

Elucidate’s Miami office is reportedly the firm’s second physical office, three years on from when it was established by CEO Shane Riedel and CTO Filipe Garcia in Berlin back in 2018.

At present, the company serves clients in over seven different countries (rating the financial crime compliance of over 20,000 organizations to date), employs over 35 professionals across European markets, and is looking to onboard additional members of staff for its business development team.

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