UBO Service joins RapidLEI Registration Agent (RA) partner programme
LONDON, UK, and DUBLIN, IRELAND – 1 February 2021 – Today, RapidLEI, the world’s number one issuer of new Legal Entity Identifiers (LEI), announced a partnership with UBO Service, the innovative Ultimate Beneficial Owner (UBO) data capture solution provider, to add LEIs to UBO Service’s portfolio.
The partnership enables UBO Service to offer an additional layer of security and compliance to its customers’ already-streamlined UBO declarations, efficiently and accurately registering LEIs as part of the same service using RapidLEI’s automated LEI issuance technology. This enhanced compliance solution helps financial institutions to meet Know Your Customer (KYC)/Customer Due Diligence (CDD) obligations from regulations such as the Fifth Anti-Money Laundering Directive (5AMLD) and the updated Corporate Transparency Act (CTA), quickly and easily.
Ben Cronin, Managing Director at UBO Service, said, “UBO Service is all about streamlining regulatory compliance, so when we decided to offer LEIs it made sense to partner with RapidLEI as our LEI issuer. RapidLEI’s service is unbeatable for efficiency and accuracy thanks to its automated LEI issuance process, and we’re very happy to be launching UBO Service operating with support from RapidLEI technology. I’m excited to pass on these benefits to our customers so that they can get everything they need for their CDD obligations in one place”.
RapidLEI’s Registration Agent (RA) programme is the most developed in the global LEI ecosystem, with various types of businesses utilising the programme to build automated LEI issuance into their unique services. RapidLEI makes its pioneering technology available as an API, giving partners direct access to register LEIs themselves in just minutes. It recently announced support for the new Global LEI Foundation (GLEIF) Validation Agent (VA) model which allows banks and financial institutions to consolidate the onboarding and LEI registration processes into one streamlined workflow, with RapidLEI’s API now VA-ready.
Paul Tourret, Corporate Development Officer at Ubisecure said, “regulations like the 5AMLD and CTA come with hefty penalties for non-compliance, and compliance begins with identifying and verifying Ultimate Beneficial Owners (UBO). It’s fantastic to be partnering with UBO Service as the team shares our vision for the benefits of automation in the KYC/AML space – including efficiency, accuracy and a great customer experience. The LEI, as a global identifier, has powerful potential to transform KYC by increasing transparency and saving costs, making it the perfect complement to UBO declarations”.
Order your LEI now at www.uboservice.com
About UBO Service
UBO Service offers an innovative new solution for obliged entities to capture accurate Ultimate Beneficial Owner (UBO) declarations in real-time. From start-ups to large corporate entities, we help businesses transform customer journeys, by accelerating their compliance process and reducing their regulatory risk.
Through an entirely transparent and accessible declaration process, UBO Service provides Beneficial Owner declarations from the most legally authoritative and compliant primary sources in the world from one on-line platform (The UBO Dashboard) and Application Programming Interface (API).
Add an additional layer of security to your compliance process with a globally recognized Legal Entity Identifier (LEI). Utilise G20 endorsed LEIs as verified organisation attributes. Combining LEIs with our UBO declarations will enhance your customer due diligence (CDD) obligations by digitally tying an entity to a legal declaration.
With accurate and reliable information at your fingertips you can make confident decisions on who you do business with.
For more information visit www.uboservice.com.
UBO Service is operating under Bear Cart Ltd LEI: 984500774TE1E9886177
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