Neo Capital Markets SV to pioneer integration of RapidLEI’s automated Legal Entity Identifier issuance into FX risk hedging platform.
Barcelona, Spain, and London, UK – July 11th, 2019 – Spain-based fintech company, Neo Capital Markets SV, SA (Neo), and Legal Entity Identity (LEI) trailblazer, RapidLEI, embark on new strategic partnership to automate LEI issuance for Neo’s customers.
Neo specialize in two core services – FX hedging and cash management – and are building a brand-new single platform combining these services for their customers. Due to investment services regulation like MiFID II, those engaging in such transactions must obtain an LEI to comply, if they do not already have one. This prompted Neo to implement the RapidLEI service to this one-stop platform, in order to truly provide everything in one place.
The integration is made possible using RapidLEI’s API, which enables same-session LEI issuance for third party application developers. RapidLEI, developed by Ubisecure, has been disrupting the Legal Entity Identifier space since 2018, innovating the automation of LEI issuance against traditional slower, manual methods.
For the RapidLEI team, market disruption is nothing new. The team is led by veterans of the Certification Authority industry, who drove the global adoption and growth of digital certificates, and see LEIs following the same explosive path.
The availability of RapidLEI’s API represents its partner-first approach, allowing the registration of on-demand LEIs to be built into a wide range of use cases – of which Neo’s fintech use case represents the latest example.
Chris Hudson, Director of Channel Sales at RapidLEI, says, “It’s fantastic to see yet another use case innovating the use of our API to better serve our partners’ customers. I’m delighted to be working with Neo Capital and to bring efficient and easy LEI issuance to their Europe-wide client base.”
Luis Ávila, Chief Compliance Officer at Neo Capital Markets SV, says, “As a company that is committed to compliance and customer service, we already apply for LEIs on behalf of our customers. This new partnership with RapidLEI will make that process infinitely easier for our customers, providing an LEI in minutes exactly at the point of need.”
Read more about the RapidLEI API here.
About Neo Group
Created in 2017, Neo aims at gathering into a single one-stop shop the full scope of corporate banking services in order to contribute to the digital transformation of treasury departments. Neo has been created because we believe FX hedging should be simple, efficient and above all, available for all corporates from high growth start-ups to multinationals. Neo helps European companies define and implement a sound hedging policy, providing you advisory, tools and committed pricing. Neo offers access to most FX hedging instruments including, forward FX, FX options and FX swap.
Neo’s solutions are 100% proprietary, fully plug & play, and free of complex integration cycles.
The Neo Group is headquartered in Barcelona and has offices in London and Cambridge.
NEO Capital Markets SV SA handles market operations and is regulated as an Investment Firm. It is registered with the Spanish market authority (Comisión Nacional del Mercado de Valores or CNMV) under firm number 283.
For more information please visit www.getneo.com or follow us on twitter: @getneonews
Neo Capital Markets SV, SA: LEI: 213800V8S6SAU9X2LX23
About Ubisecure & 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 via its SaaS platform or API. 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