LEI Banking

A few short months ago during RegTech 2019 we launched our LEI management solution for Banks and Enterprise. Since launch we’ve been working hard on expanding the solution’s functionality and making it ready to be resold by our global partner network. We are pleased to announce that today, the newly named EnterpriseLEI, our comprehensive Bank and Enterprise LEI management solution, is now available to RapidLEI Registration Agent (RA) Partners.

Making our flagship EnterpriseLEI available to the channel is the latest crucial step in our commitment to the success of our partners.

RapidLEI is a partner-first LEI Issuer. We want LEI customers to find the RapidLEI partner that best suits their needs, whether that be language, currency, local presence or local expertise. To help achieve such discovery, we maintain an LEI Partner Directory where all partners are presented by region and showcase their localised value. We also give our Partners the option to appear in the GLEIF maintained RA directory list*. Uniquely amongst LEI Issuers, we believe that providing the highest level of exposure to our partners will not only help them maximise the LEI opportunity, but also strengthen the LEI ecosystem, widen the narrative around LEI advantages, and ultimately better serve organizations obtaining LEIs.

For Banks and Enterprises using LEIs in trades, EnterpriseLEI makes it possible to obtain LEIs in real time, as well as lowering the LEI administration cost. The solution also helps reduces the risks of lapsed LEIs. EnterpriseLEI allows LEIs to be managed at scale via the SaaS portal or by using the API, thereby making it much simpler for Banks to use LEIs in their KYC / onboarding workflows.

Features of EnterpriseLEI include:

  • Full LEI support – organizations, trusts and funds
  • Automated LEI issuance process
  • Bulk registration
  • Discovery & Consolidation –identify all LEIs issued within groups and help transfer to EnterpriseLEI
  • LEI Parent Company management
  • Discounts – gain deep discounts over buying individual LEIs
  • One agreement – both internal and client LEIs can be managed with multiple accounts under a single agreement
  • 24/7 customer support

The opportunity for Resellers is significant, especially in the Banking & FinTech industries. Only 1.5m organizations around the world currently own an LEI, yet over 200m organizations exist globally. With the GLEIF campaigning for increased uptake of LEIs, and more regulations and use cases now requiring the use of LEIs, we expect that EnterpriseLEI will widely be accepted as the best way to manage both internal and client LEIs at scale.

Existing RA Partners can begin reselling EnterpriseLEI immediately. Prospective Partners should contact the Partner Team to discuss joining the RapidLEI RA program.

 

* The current GLEIF implementation of the RA directory requires you to click on the LEI Issuer, then click Show or Download to reveal the Registration Agents.