This week our partners at LEI-Register have launched an industry first – an LEI subscription service. Rather than buying annually, or multi-year, companies can now subscribe monthly to an LEI service that requires only a monthly payment and provides automated ongoing company data accuracy checks.
The service, called TrustLEI, is currently providing the first few periods free of charge. This means that up to 60 days of the LEI subscription is free, and after this period the customer can choose to continue subscribing to the LEI, or they can cancel at no cost.
The issuance process is still fully automated so customers can still expect to see their LEIs issued and published in minutes.
Toomas Pavelson, CEO LEI Register said: “Customers want the assurance that their LEI is valid and up to date so they can conduct their business easily. By offering TrustLEI as a subscription service we can provide more frequent data checks to help to keep the data up to date, giving our customers smoother transactions and validations of their LEI, and with no conflicting organisation identity information.”
Paul Tourret, Corporate Development Officer with Ubisecure’s RapidLEI said: “The trend of buying and using digital products on a subscription basis has become the norm in the last 10 years. Most digital service providers have shifted to a model that means predictable monthly costs. Most businesses prefer to know their LEI will not easily lapse if someone in their organisation forgets the annual renewal, and that they are maintaining LEI data accuracy through ongoing monitoring. The new TrustLEI service from LEI Register is trailblazing for the LEI industry, and we’re excited to be partnering with them to take the service to market.”
We are excited to see our partners using the RapidLEI API to build new LEI products like TrustLEI. We look forward to this initiative making LEIs even more accessible.
You can find out more and obtain your LEIs on a subscription basis at trustlei.com.