LEI - Legal Entity Identifiers
Identify and trust your business partner reducing time and costs with LEI
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Do you really know your business partner?
The 2008 financial crisis bare laid the need to identify and analyse the exposure at legal entities level. Therefore, the Financial Stabilty Board created the Global Legal Entities Identifier System, that assigns LEI to legal entities, providing information about "who is who" and "who owns who".
In December 2019 InfoCert completed the GLEIF accreditation becoming a Local Operating Unit (LOU) authorized to issue LEIs.
Trust your business partner, verify the identity with LEI
Using LEI in financial trading enables banks to instantaneously identify and reconcile counterparties information in OTC. In EU, the use of LEI is mandatory by, for example, the European Market Infrastructure Regulation (EMIR).
Organizations deal every day with both internal and external counterparties, such as suppliers, partners and banks. Thanks to LEI, verify identities of third parties worldwide can be simple and faster using GLEIF open data base and API. Moreover, additional benefits are provided including LEI in different digital transactions, such as electronic invoices, digital signature an TLS.
To extend commercial credit, the lender must verify the legal entity structure and stability. The use of LEI would help to standardize this information and thus would significantly reduce the time that banks’ middle and back offices spend on manual verification processes.
Reduce costs and increase trasparency with LEI
Speed up verification
The use of the LEI reduce transactional frictions and enables faster identy verification to organization that use different data base.
The simpler and faster is the verification process, the lower are the costs to identify business counterparts.
All LEI information are open and for free access in GLEIF data base.
LEI contains entity ownership structure, useful to match multiple legal documents to a single client when processing a specific transaction.
We report below the steps necessary to request or transfer an LEI.
In this process, the Legal Entities can refer to our banking partners.
Fulfill an application form with your organization and group (if present) data
Receive your LEI and use it!
Intermediary Banks instructions & responsibilities
Banks are pursuing a KYC policy (KNOW-YOUR-CUSTOMER) and they comply with Anti Money-Laundering regulation. For more information and instructions on how to manage the intermediary banks process, visit the page from the link below.
InfoCert completed the GLEIF accreditation in December 2019 and is a Local Operating Unit (LOU).
The Legal Entity Identifier (LEI) is a 20-character, alpha-numeric code based on the ISO 17442 standard developed by the International Organization for Standardization (ISO). The Global Legal Entity Identifier Foundation (GLEIF) evaluates the fitness of organizations seeking to operate as LEIs issuers. In December 2019 InfoCert completed the GLEIF accreditation becoming a Local Operating Unit (LOU) authorized to issue LEIs. LOUs supply registration, renewal and other services acting as the primary interface for legal entities regarding LEIs.
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