Digital Identity Registration
Legal Entity Identifiers (LEI)
Digital identities, within the context of cross-border trade, are referred to as LEIs. They operate in a similar way to having a company identification number with Companies House except LEIs are publicly listed on a global register and are listed as a foundational standard in the WTO/ICC Standards Toolkit.
Why have an LEI?
Only 4% of UK trading companies use LEIs, yet they are cheap and deliver a wide range of company benefits including:
- Reducing AML/KYC bureaucracy
- Reducing fraud
- Speeding up transactions
- Lowering trade costs
- Simplifying processes
- Going paperless
- Enabling straight-through processing
- Promoting greater transparency
- De-risking supply chains
- Verifying what is being bought/sold, who owns it, and who is paying for it
Register for an LEI
We have partnered up with Ubisecure, one of the leading global LEI issuers, to help improve adoption rates across the UK, including reducing the cost of registration and promoting the benefits of using an LEI. We are delighted to offer a discount of 50% on the cost of LEI registration through Ubisecure’s RapidLEI platform.
RapidLEI is one of about 30 accredited LEI Issuers. They sit alongside organizations like Bloomberg LEI, DTCC (GMEI Utility LEI), the LSEG (London Stock Exchange Group) UK LEI issuer, and others. RapidLEI supply registration, renewal and other LEI services for legal entities wishing to utilize LEIs.
To take advantage of the discount available through RapidLEI, click through to the registration page via the button below.
Ubisecure
Ubisecure is a Europe-based Identity & Access Management (IAM) specialist and offers a comprehensive identity management platform deployed as IDaaS (Identity- as-a-Service), hybrid or on-premises software.
Ubisecure provides a single platform that enables high-assurance, cross-border interactions, with the focus on reducing fraud and avoiding data breaches by successfully converging identity and access security to deliver better user experiences.
Ubisecure is also GLEIF-accredited to issue Legal Entity Identifiers (LEI) via its RapidLEI service and have quickly become the global #1 LEI Issuer both in terms of volume and data quality. RapidLEI has issued verified organisation identities to over 150k organisations worldwide.
Ubisecure’s mission is to help enterprises embrace the global digital identity ecosystem, improve operational effectiveness and build trusted business relationships.
Global Legal Entity Identifier Foundation (GLEIF)
Established by the Financial Stability Board in June 2014, the Global Legal Entity Identifier Foundation (GLEIF) is tasked to support the implementation and use of the Legal Entity Identifier (LEI). The foundation is backed and overseen by the Regulatory Oversight Committee, representing public authorities from around the globe that have come together to jointly drive forward transparency within the global financial markets.
GLEIF manages a network of partners, known as the LEI issuing organizations, to provide trusted services and open, reliable data for unique legal entity identification worldwide.
GLEIF’s position is that broad LEI adoption will also generate significant advantages for the wider business community.
To find other alternative providers of LEI’s, click here for full details.
The need to accurately identify, authenticate and trust organisations is essential if we are to realise the full potential of the digital economy. Over 2m organisations already have Legal Entity Identifiers to help with financial transactions. but this is the tip of the iceberg of the greater global economy...We applaud ICC United Kingdom and its partners for its digitalisation education initiatives, especially by bringing attention to the benefits and necessity of the LEI for modern business. We look forward to supporting ICC United Kingdom members with the adoption the identifier.
-Simon Wood, CEO, Ubisecure