Shane Riedel

Profile

Shane Riedel advises financial institutions on managing correspondent banking and financial crime risk with AI-driven technology, drawing on more than fifteen years in global banking and international public service. He is the founder and CEO of Elucidate, the Berlin-based provider of agentic, AI-first risk decisioning infrastructure for wholesale payments and trade.

Before founding Elucidate in 2019, he was Head of Financial Crime Compliance for Financial Institutions and Correspondent Banking at Standard Chartered. At Elucidate, he helps correspondent banks replace manual, questionnaire-driven due diligence with continuously maintained, independently scored risk profiles of their counterparties, enabling bank teams to make critical risk decisions quickly.

Areas of expertise

• 01Correspondent banking and FI counterparty risk
• 02Financial crime compliance: AML, CFT and sanctions
• 03AI risk decisioning and model governance
• 04Cross-border payments and trade finance
• 05Perpetual KYC and ongoing counterparty monitoring

Selected engagements & achievements

1. 01

   Global card network: real-time financial crime risk assessment for cross-border B2B payments.

2. 02

   Major US bank: third- and fourth-party counterparty monitoring across its financial institution relationships.

3. 03

   Multiple EU correspondent banks: ongoing portfolio monitoring across financial institution relationships, including agentic deployments on CDD and transaction validation.

4. 04

   Pan-African banking group: correspondent banking transaction monitoring, extended to automated, continuously refreshed risk profiles for FI onboarding and periodic review.

IT solution

Risk Decisioning Platform

Elucidate’s Risk Decisioning Platform puts governed AI agents to work across KYC, correspondent banking due diligence and monitoring, alert triage, investigations and payment validation, acting within limits each institution sets, with full audit logging and a named human accountable for every agent.