Hot on the heels of last week’s announcement of LEI Everywhere, we’re excited to announce that UBO Service will be leveraging the solution for accelerated AML/KYC processes.

RapidLEI, a service from Ubisecure, announced its partnership with UBO Service in February 2021, enabling UBO Service to add the RapidLEI LEI issuance solution to its streamlined UBO declarations offering. Today we have announced an extension to the partnership, with UBO Service as the first FinTech provider to become an approved Validation Agent by the GLEIF, as a RapidLEI Validation Agent (VA) under the LEI Everywhere program.

Read the full press release:

UBO Service Managing Director, Ben Cronin, commented:

“By becoming the first FinTech provider to become a Validation Agent UBO Service can deliver a faster, uninterrupted customer experience. Using LEIs and legal entity reference data in our AML/UBO reports will enhance our clients’ CDD obligations. Digitally tying an entity to a legal declaration continues our ethos of implementing valuable data lineage and provenance to our solutions. Providing the type of onboarding experience regulators demand and customers expect. The opportunity to purchase an LEI at the same time as an AML report also means that customers trading through brokers can provide everything they need to start trading as fast as possible.”

Paul Tourret, Corporate Development Officer for Ubisecure & RapidLEI, said:

“As we drive forward with the huge potential of LEIs, we’re excited to be at the cutting edge of new LEI use cases and delivery mechanisms. The VA model and LEI Everywhere brings new opportunities to use LEIs in KYC, AML and UBO solutions, alongside regulatory requirements and other initiatives. UBO Service is doing exciting things in the AML space, so we’re very happy to advance our partnership further to innovate on new uses of the LEI.”

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