RapidLEI announces partnership to enable CB Essential Services to become official Registration Agent (RA) of Legal Entity Identifiers (LEI’s)
LONDON, UK AND RIDGEWOOD, NEW YORK, US – 24 March 2020 – RapidLEI, the fastest growing Global LEI Foundation (GLEIF) accredited LEI Issuer, today announced a partnership with LEI start-up CB Essential Services. The partnership will see CB Essential Services provide LEI management to its customers across the US using RapidLEI’s automated LEI issuance technology.
The market for LEI issuance has, so far, been dominated by US-based conglomerates Bloomberg and DTCC. However, recent GLEIF findings now show that RapidLEI is now outpacing Bloomberg and issuing more new Legal Entity Identifiers (LEI) than the financial services giant. RapidLEI’s expanding global network of partners has been integral to its impressive growth, enabling regional specialists like CB Essential Services to provide dedicated LEI services, giving them a competitive edge over multi-functional providers.
According to the latest GLEIF report, the US currently accounts for the largest portion of of all LEIs issued globally at 13.3% (212,600). With so many codes to manage there is extensive opportunity to take administrative burden off internal teams and offer third party management services – an opportunity that CB Essential Services was founded to meet by entrepreneur Matthew Boyle. It manages all back-office functions related to LEIs – providing checks in proprietary state corporate registers, getting the right signatures and applying for LEIs.
Matthew Boyle, Founder at CB Essential Services, said, “My eternal goal is to render abstract formal processes efficient, humanistic. The LEI is increasing trust in transactions worldwide and has huge potential to increase trust in multiple use cases as a global identifier. It’s CB Essential Services’ intention to simplify LEI management for customers, ensuring they can leverage the LEI’s full potential without any of the administration time involved in its upkeep.”
Chris Hudson, Director of Channel Sales at RapidLEI, said, “As our global expansion continues, it’s fantastic to have CB Essential Services on board to address the US market’s need for managed LEIs. It’s important for RapidLEI’s growth to have partners with knowledge of and connections to local drivers and requirements with regard to LEIs.”
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About CB Essential Services
Founded in 2019, CB Essential Services offers formal identity services for both natural and legal persons. HMDA-LEI is a market-focused initiative leveraging the unique RapidLEI platform to offer speedy Legal Entity Identifier registration and premier back-office management.
About Ubisecure and RapidLEI
Ubisecure is accredited by the Global Legal Entity Identifier Foundation (GLEIF) to issue Legal Entity Identifiers (LEI). RapidLEI is a Ubisecure service that automates the LEI lifecycle to deliver LEIs quickly and easily. As well as pioneering LEI automation, the company is a technology innovator and provides identity management software and cloud identity services that enable enterprises and governments to enhance customer experience, security and privacy through support for strong identities and management of customer identity data. Ubisecure also provides solutions to companies maintaining their own strong customer identities (such as banks and mobile network operators) to become Identity Providers (IdP) for strong authentication and federation services.
Ubisecure LEI: 529900T8BM49AURSDO55