GLEIF to launch digital, instant LEI Verification

Posted on December 18, 2020 by Editor

This week the Global Legal Entity Identifier Foundation (GLEIF) announced the next step for the Legal Entity Identifier (LEI): a fully digital LEI service capable of enabling instant and automated identity verification across all industries worldwide.

Following a year of exploratory research and confirmed demand from various sectors including financial services, this announcement launches an official development program. Stakeholders from across industries are invited to help develop the supporting technical infrastructure, ecosystem and governance framework for a verifiable LEI (vLEI) that will be open and universally interoperable.

The global LEI system provides a standardised way to identify entities everywhere – so it’s natural that the next step would be a method to present and verify these identity claims digitally. The resulting “chain” of verification could mean that individuals working within specifically identifiable organisations, and even devices or systems operating on their behalf could be explicitly pinpointed. {Ed – Will it work for email clients and clean up spam forever?}

Verifiable, trusted digital identifiers could play a critical role in the digital economy of tomorrow, unlocking innovation and enabling government authorities to embrace efficient new digital platforms and automated verification. We look forward to working with GLEIF to help extend the capabilities of the LEI to create increased trust and transparency worldwide.

Read more here.

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