The partnership sees Dreams Merchant become a RapidLEI Registration Agent, addressing India’s high growth rate for LEI uptake
LONDON, UK AND MUMBAI, INDIA – 8 June 2020 – Today RapidLEI, a pioneering Legal Entity Identifier (LEI) issuer, and Dreams Merchant, a Mumbai-based LEI Registration Agent (RA), announced a strategic partnership to further extend the benefits of RapidLEI’s automated LEI issuance in India.
RapidLEI is a Ubisecure service, operating as a Global Legal Entity Identifier Foundation (GLEIF) accredited Local Operating Unit (LOU) since 2018. Since then, it has fast become the number one issuer of validated LEIs worldwide. Its automated LEI issuance technology and advanced global partnership programmes have been instrumental in this growth, and have contributed to its exceptional data quality rate (i.e. the completeness and accuracy of reference data in the LEI record).
Dreams Merchant was established in 1987 to assist public and private organisations, as well as individuals, with their legal, technical and financial requirements. Its latest move to now include LEIs in its offerings is a response to fast-growing demand for LEIs in India.
The global LEI population now exceeds 1.65 million. More than 76,000 LEIs were issued in Q1 of 2020 alone, with India showing the second highest LEI growth rate at a jurisdiction level (17.8%) during this period. This growth is largely due to various regulatory initiatives implemented by the Reserve Bank of India (RBI), mandating the use of the LEI.
Hitesh Rughani, Managing Director at Dreams Merchant, said, “the partnership with RapidLEI enables us to issue LEIs in the shortest time possible, hassle free and at competitive rates. RapidLEI’s commitment to innovation means Dream Merchant is able to offer solutions to enhance accuracy and efficiency by avoiding unnecessary manual workflows that other LEI issuers demand.”
Chris Hudson, Director of Channel Sales at RapidLEI, said, “we’re very happy to be working with Dreams Merchant, who are providing local LEI expertise to support Indian businesses with adherence to RBI regulations. We also welcome recent news about LEI record ‘conformity flags’ to increase transparency around LEI data quality, with such partnerships helping organisations to further establish trust in financial transactions.”
Find out more about LEI conformity flags here: https://www.ubisecure.com/legal-entity-identifier-lei/lei-conformity-flag/.
To get your LEI, contact [email protected].
About Dreams Merchant
Since 1987, Dreams Merchant engaged in the fields of Legal, Technical and Financial activities under a single edge and having a robust foundation of Clientele base of Governments, Local Bodies, Corporates, Banks, Financial Institutions, Institutions, Trusts, Societies, Funds, Startups, Individuals, Celebrities, etc. Dreams Merchant provides hassle-free swift solutions in each complex arena at the lowest cost. Dreams Merchant provides their expertise and experience to full fill your valued dream projects end to end level. Simply Dreams Merchant is the sole place where the dreams come true.
Dreams Merchant has strategic relationship with Ubisecure Inc, RapidLEI, and GLEIF. We are an Official Registration Agent for issuance of Legal Entity Identifier worldwide. We also provide the EnterpriseLEI Platform specially designed for Banks and Identity Platform, and Cloud Services. Identity management in the cloud or on-premise, optimized for managing customers and b2b digital identities.
Find out more at dreamsmerchant.com.
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.
For more information please visit www.rapidlei.com or www.ubisecure.com
Ubisecure LEI: 529900T8BM49AURSDO55
About The Author: Francesca Hobson
As Senior Marketing Manager, Francesca aims to provide valuable insights on digital identity through our Let's Talk About Digital Identity podcast, blogs, industry events and content library.
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