Great news for the rise of Legal Entity Identifier (LEI) automation as the strong growth of RapidLEI continues throughout September. GLEIF issuance statistics show that RapidLEI maintains 3rd largest global LEI issuer for the month, tracking only marginally behind DTCC and Bloomberg and now managing over 17k organisations.
If we take an interesting slice of the dataset and remove LEIs issued to US organisations, RapidLEI becomes the largest issuer of LEIs for the rest of the world. We issued some 25% more LEIs to non-US entities than both Bloomberg and DTCC.
This tells us that our partners through Europe, Asia and the Middle East are successfully communicating the RapidLEI platform and service advantages to their local markets, and those markets are responding well to our disruptive proposition. An advantage we have is our focus on LEIs, and as we work with more organisations and partners, our LEI solutions continue to evolve to meet new use cases and solve organisation identity issues.
But there clearly remains an enormous opportunity to take the RapidLEI service to the US market, so today that changes.
We have established an office in Boston to better support the sales and support requirements of the US market. We have some exciting US centric relationships to announce shortly, and we’re actively recruiting partners via our partner-first LEI programs to take RapidLEI to market stateside at scale. We have integrated the various State Business Registries to RapidLEI platform, so US customers can expect the same fast and easy LEI registration process (seconds vs days!) that the rest of the world has embraced so quickly.
US companies involved in LEI management, trades or wishing to know more about the exploding LEI opportunity in the largest LEI market globally, please get in touch or call us on (617) 917-3577.
We look forward to serving our new US customers and partners more effectively!
In other LEI news, just a few weeks back we also launched our new LEI Banking & FinTech solution. This gives banks and enterprises easy issuance, simpler management and lower costs for both internal and client LEIs. We have also seen significant movement by SWIFT and ISO 20022 in supporting the LEI as the entity identifier in much wider payment transactions than currently regulated. This will help push the total number of organisations using LEIs up from 1.5m into potentially hundreds of millions. Exciting times to be the fastest growing LEI Issuer!