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GLEIF – Global Legal Entity Identifier Foundation

We enable smarter, less costly and more reliable decisions about who to do business with

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Legal Entity Identifier Services by GLEIF

LEIs and Client Lifecycle Management in Banking - a U.S.$4 Billion Beginning

Research conducted by McKinsey on behalf of 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 percent and 10 percent of the industry’s U.S.$40bn annual overall spend on the practice.

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GLEIF Publishes Annual Report

GLEIF has published its annual report in human and machine-readable Inline XBRL and HTML format, with the first use of a verifiable Legal Entity Identifier (vLEI) to sign its 2021 annual report.

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One global identity behind every business

GLEIF Mission

GLEIF manages a network of partners, the LEI issuing organizations, to provide trusted services and open, reliable data for unique legal entity identification worldwide. GLEIF services ensure the operational integrity of the Global LEI System.

Our Vision

GLEIF believes that each business worldwide should have only one global identity. This identity should include a digital identity. Having an LEI will help to achieve this objective. Taking advantage of the Global LEI Index empowers market participants to cut costs, simplify and accelerate operations and gain deeper insight into the global market place.

Governance Structure

The LEI initiative is driven by the Group of 20 and the Financial Stability Board (FSB). Created by the FSB in 2014, GLEIF is a supra-national, not-for-profit organization tasked to manage the only open, non-proprietary legal entity identification system designed as a public good.

GLEIF Activities and News

GLEIF Explains Series Date: 2023-03-31 Action Counts in Data Quality
GLEIF Blog Date: 2023-03-30 #10 in the LEI Lightbulb Blog Series - Optimizing ISO 20022 for Cross-Border Payments: Why the LEI and BIC are a Perfect Fit for a Truly Global Identification Scheme

A consultation by the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) has been launched inviting industry feedback on proposed ISO 20022 harmonization requirements intended to enhance cross-border payments. This presents a vital and urgent opportunity for payments ecosystem participants across the globe to advocate for the mandatory use of the Legal Entity Identifier (LEI) alongside the Business Identifier Code (BIC) to identify financial institutions and companies. GLEIF explains why, as the only established universal entity identifier globally, the LEI is uniquely positioned to make cross-border transactions faster, cheaper, more transparent and inclusive.