LEI Solutions > GLEIF Validation Agents

GLEIF Validation Agents
Streamlined LEI issuance for KYC
& Compliance-as-a-Service

GLEIF-approved operational model for KYC Service Providers, Banks, FinTechs, & Trust Service Providers. Leverage existing KYC & AML workflows and enhance legal entity identity information while synchronously issuing LEIs in real-time.

Realize the GLEIF Validation Agent (VA) opportunity with RapidLEI

GLEIF Validation Agent

116

Regulations requiring LEI

$5-6m

Annual KYC savings (GLEIF & McKinsey)

10-15%

Reduction in Onboarding costs (GLEIF & McKinsey)

Organizations using the VA solution can leverage existing KYC, AML and Compliance-as-a-Service workflows to obtain LEIs for clients when verifying a client’s identity during initial onboarding or during a client refresh update. Both the validation of legal entity identity data and the subsequent registration (and renewal) of the LEI can be automated to occur in parallel with existing workflows, all in real-time, and without the usual duplicative processes.

Organizations becoming VAs for RapidLEI gain:

Greatly reduced costs
The VA solution greatly reduces the cost of LEIs. This enables VAs to purchase and manage LEIs on behalf of clients, or create new revenue streams from LEIs.

Synchronous registration of LEIs
LEI issuance no longer needs to be a separate registration workflow. Registration occurs at the same time as existing KYC and onboarding processes.

Access to accurate entity identity information
RapidLEI’s unique VA solution uses automation and integration into local business registries to ensure accurate, up-to-date entity identification information. This can be used to enrich and correct entity identity information for internal customer due diligence (CDD), and enhanced due diligence (EDD). It also ensures that only accurate LEIs are registered.

Augment digital identities with LEIs
Add LEIs as attributes to existing customer digital identities. Augment LEIs to digital identities that are consumed from third party Identity Providers (IdP), or externally federated as an IdP service, or utilized internally. Assert organization affiliation in KYC, onboarding and ongoing strong authentication use cases.

Scale your LEI issuance with the world’s #1 LEI Issuer

LEI use case

Ensure clients meet regulatory compliance mandating use of LEIs today and into the future

RapidLEI speed

Issue LEIs at massive scale quickly and at reduced cost. Improves customer experience and ensures uninterrupted transactions

LEI use case

Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) – improved client data accuracy, quality, and reliability

LEI use case

Leverage your existing legal entity validation processes

LEI use case

Gain new revenue streams from KYC/AML/Compliance services

Renew Legal Entity Identifier

Augment existing Identity Provider digital identities and federated identity pools with the LEI as an attribute

What is the GLEIF Validation Agent (VA) Framework?

The Validation Agent (VA) framework is a newly approved role in the Global LEI System (GLEIS). It enables FIs, Banks, & Trust Service Providers to leverage and enhance existing validation processes to consolidate traditionally separate workflows for KYC, AML & LEI issuance.

Being a VA empowers FIs to obtain an LEI for a client at the same time, and using the same processes, as the usual client onboarding process. There is no need to engage with the LEI Issuer in a separate, often time consuming, validation process just for the LEI registration. Onboarding and LEI issuance become synchronous. 

The VA solution provisions the ability for an FI to request Legal Entity Identifiers on behalf of legal entities AND/OR also to request LEI purely for the benefit of the FI’s internal KYC requirements. VAs can monetize the LEI, as well as use it to realize a variety of cost, efficiency and customer experience benefits by leveraging existing KYC and AML processes.

GLEIF Accredited RapidLEI

“By simplifying and accelerating the LEI issuance process, the new Framework also paves the way for FIs to expand their usage of the LEI beyond capital markets to encompass all banking business lines, an opportunity anticipated to save the industry U.S.$2-4 billion annually in client onboarding costs alone.”
GLEIF – LEI VA Framework eBook

Why partner with RapidLEI to become a GLEIF Validation Agent?

automated lei

Automated LEI issuance process
Automated systems and pre-integration into Business Registries creates fast, accurate data records

LEI API

API
The only same-session LEI issuance API available enables LEI management at massive scale

lei support

Full LEI Support
Issue LEIs to organizations, trusts, and funds

lei expiration

Automated Renewals
System automatically renews multi-year LEIs

RapidLEI account manager

Local Support
Enabled by RapidLEI and also available through our local strategic Registration Authority partners

consolidate lei

Volume Discounts
Save significantly and maximize margin / revenue

Manage LEIs at massive scale

BUILD VALIDATION AGENT CAPABILITIES INTO APPLICATIONS QUICKLY AND EASILY
  • The only same-session LEI issuance API
  • Register LEIs, renew, import existing LEIs, query on status
  • Confirm data quality and enrich current legal entity data

LEI API Languages

LEI developer

GLEIF white paper page 1

The power of LEIs to transform client lifecycle management in banking

A U.S.$4 billion beginning

Research conducted by McKinsey on behalf of the Global Legal Entity Identifier Foundation (GLEIF) has concluded that broader adoption of Legal Entity Identifiers (LEIs) could save the global banking sector U.S.$2-4 billion annually in client onboarding costs alone. This represents a saving of between 5 and 10 percent of the industry’s U.S.$40 billion annual overall spend on the practice.

User Guide

RapidLEI Validation Agent Datasheet

Resources

Platform security report for RapidLEI

GLEIF Infographic

Using LEIs to transform client KYC

GLEIF eBook

How LEIs can transform client lifecycle in banking