VERIFIED ORGnisations
As the world’s largest accredited LEI Issuer, Ubisecure makes it easy to register, manage and use verified organisation identity to meet regulation and enable trusted business relationships. Our unique position as an Organisation Identity Provider with a wide range of Identity Management capabilities is driving adoption of the many new organisation identity-enabled use cases.
Over 300 regional and global regulations require the use of strong organisation identity to properly identify parties and reduce fraud. The LEI is the cornerstone of the verified organisation.
Streamline Know Your Customer, Know Your Business and Anti-Money Laundering onboarding processes by eliminating duplicative workflows, saving time on manual reviews, and reducing bad entity data.
By combining verified individual identity and highly assured organisation identity, organisation representatives can assert who they are, who they represent, and the rights they have when representing them.
Issuing and managing more LEIs globally than any other accredited LEI Issuer
Consistently providing the most accurate legal entity reference data across the LEI ecosystem
Around the world using Ubisecure’s RapidLEI service
The Legal Entity Identifier (LEI) is a 20 digit globally verified organisation identification code, endorsed by the G20 & Financial Stability Board, and references a live record of a verified organisation. LEIs are used to identity organisations in regulatory compliance, company governance, trades and transactions, but also now have wider use cases in enabling trusted global trade and supply chain.
In 2018 Ubisecure became an accredited (and is now the #1 issuer of LEIs) LEI issuer under our RapidLEI brand. The RapidLEI platform has ensures organisations can obtain LEIs quickly, easily and accurately. Our algorithms do the heavy lifting – providing automation and accuracy, and reducing the total cost of ownership for the Legal Entity during the application process.
The LEI provides access to verified organisation reference data and connects the numerous different organisation regional and private identifiers used in Know Your Customer, Know Your Business & Anti-Money Laundering. LEIs both improve and inform onboarding workflows.
Using LEIs in onboarding saves costs and has a measurable impact to people and staff productivity by reducing manual data checking, improving entity data quality. Service providers can view live, verifiable data about clients to ensure higher levels of trust for Customer Due Diligence (CDD).
Ubisecure offers LEI discovery, issuance and management. We also offer support for automated LEI issuance via the GLEIF approved Validation Agent framework. These solutions allow for automated use of accurate LEI reference data in KYC workflows.
Organisations can use their LEIs as an authentication method to assert authorised representation to reduce identity fraud and eliminate the costs associated with manual representation workflows.
LEI-based services, including the Verifiable Credential or vLEI, make it possible for individuals to authenticate themselves and assert their rights to represent their organization. Rights could be as simple as approved spending limits, or as comprehensive and complex as condition-based legal electronic power of attorney. Using the same concept as “Sign in with Apple” or “Log in with Facebook”, Right to Represent uses LEI-based accounts to authenticate an individual’s organisation identity, affiliation and rights.
“To help prepare the market for digitalised trade systems, C4DTI is launching a package of new services: [including] A national campaign in partnership with Ubisecure and the Global Legal Entity Identification Foundation (GLEIF) to promote the adoption of Legal Entity Identities (LEIs), the widely recognised and standardised organisation identifier. These will enable companies to speed up due diligence checks, reduce fraud and efficiently track secure transactions of goods and finance.”
ICC United Kingdom
As a persistent unique key to verifiable “who is who” business data and “who owns whom” parental structures, FIs, trust service providers, Certification Authorities, and technology providers can get significant value from LEIs. Updated at least annually, LEIs will always offer an improved alternative over formats of static data, making the LEI critical for automated and efficient KYC/AML, onboarding and organisational identity assurance.
The World Trade Organisation and the ICC are pushing to enable paperless trade leveraging the LEI. The eIDAS 2.0 EU digital wallet scheme will enable citizens to use the LEI to express relationships to organisations. The Globally Assured Identity Network (GAIN) also recognises the LEI as the entity identifier within its framework to allow for a transitive relationship between global networks.
THOUGHT LEADERSHIP
Delivering true B2B Identity Management with IAM & LEI
Organisations are underserved and under-identified with no standard ability to express verified relationships. True B2B IAM can be achieved by combining strongly authenticated individuals with highly assured organisation identities.
>> Read More
WHITE PAPER
By the Global LEI Foundation (GLEIF)
The future of Legal Entity Identification
GLEIF report investigating the inefficiencies of onboarding processes for Banks. Explores the benefits of a standard method to identify legal entities.
>> Read More
CASE STUDY
How a nationwide identity management and delegation platform utilised Organisation Identity to reduce costs by 99%
>> Read More
