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Why a Trusted Identity is the First Step to Financial Inclusion for SMEs

  • Date: 2020-03-12
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Micro, small and medium enterprises (MSMEs) generate significant wealth for countries across the world and thanks to the digitalization of the global economy, they have more opportunity for growth than ever before.

GLEIF’s vision is that prosperous economies start with transactional trust. For MSME owners, the first step is being able to prove the legitimacy and credibility of their enterprise. While national business registries exist for this very purpose, there is a significant additional benefit in having a trusted identity which is recognized universally and provides transparency across the global marketplace. The Legal Entity Identifier (LEI) is an obvious solution.

For more information on this topic, please see recent GLEIF Blog here.