
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.
Download GLEIF eBookGLEIF 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.
Download Annual ReportOne global identity behind every business
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.
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.
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.