The new collaboration will see PSW GROUP offer Legal Entity Identifiers to organisations, banks, trusts and funds for the German-speaking market.
LONDON, UK, AND FULDA, GERMANY – 19 December 2019 – GLEIF-accredited Legal Entity Identifier (LEI) issuer, RapidLEI, today announced a new partnership with German SSL provider, PSW GROUP, as part of its official LEI Registration Agent partner programme.
PSW GROUP is a DACH-region full-service internet solutions provider, with a particular focus on cybersecurity and digital identity solutions. SSL certificates are one of its key products, with the goal of increasing trust in who an individual or an organisation is doing business with online – something that’s increasingly vital in an ever more digital landscape.
An LEI is a unique 20-character alphanumeric code required by all parties participating in regulated financial transactions, providing a publicly-available verifiable source of ‘who is who’ (organisation identity) and ‘who owns whom’ (organisation group structures). Over 125,000 organisations, trusts and funds use LEIs in Germany alone, making Germany the third largest LEI market globally and LEIs an opportune product for locally-focused, highly-respected solution providers.
The LEI is due for even greater adoption worldwide, with every legal entity envisaged to eventually require an LEI as it is increasingly built into new use cases and mandated by further regulations. For example, embedding LEIs into XBRL financial statement reporting, which will impact every CFO globally – notably in the US as a requirement of the Financial Transparency Act. Another example lies in SWIFT transactions, which will command the use of an LEI in payments as part of the ISO 20022 standard – expected to be the main language for payments within the next five years.
RapidLEI has the most developed Registration Agent (RA) partner programme in the LEI issuance space, frequently announcing partnerships with new RAs all around the world to back its partner-first business model and topping the charts for fastest-growing LEI issuer of 2019. This fast growth is supported by the availability of EnterpriseLEI (a banking/enterprise solution for volume LEI management) and the RapidLEI API, allowing partners to build LEI issuance into their own workflows and innovate new use cases, such as the inclusion of LEI numbers within Digital Certificate products like code signing, S/MIME and potentially more.
Patrycja Tulinska, CEO at PSW GROUP, says, “Germany is ready for widespread digitalisation in all areas, not least e-commerce, payments and other financial transactions. LEIs will be fundamental to the regulation and transparency required alongside that. RapidLEI offers everything we need and more, to achieve efficiency and competitiveness in the LEI provision space, so were the natural choice of partner for us to advance this next stage of our business.”
Chris Hudson, Director of Channel Sales at RapidLEI, says, “I’m delighted to be working with PSW GROUP. As an SSL industry veteran prior to my work with RapidLEI, I have first-hand experience of the benefits that SSL value-added resellers bring to the local markets and look forward to aligning objectives with PSW GROUP’s fantastic team.”
Find out more about RapidLEI’s partnership programme at rapidlei.com/partners.
About PSW GROUP
Well-known companies have relied on the expertise, services and solutions of the PSW GROUP since the year 2000. During this time, PSW GROUP has developed into one of Germany’s leading full-service Internet solutions providers with a special focus on Internet security.
As an Internet Security Specialist, PSW GROUP offers tailor-made signature, encryption and authentication solutions for web deployment and e-mail communication.
For more information, head to www.psw-group.de.
PSW GROUP LEI: 529900GVZ8MENV9DKO64
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