New ISO Standard Supports Uniform Inclusion of ‘Official Organizational Roles’ in LEI-based Digital ID Tools
The combination of LEIs and official organizational roles within digital ID credentials promotes greater trust in the authenticity of an entity’s authorized representatives, enabling new digital identity management use cases
A newly published ISO standard, ISO 5009, has the potential to extend the utility and value of Legal Entity Identifier (LEI)-based digital identity tools, by facilitating inclusion of ‘official organizational role’ detail within them, in a consistent manner.
ISO 5009 paves the way for these tools – such as verifiable LEI (vLEI) credentials and digital certificates with embedded LEIs – to become a universally trusted method of digitally confirming the authenticity of people authorized to act on behalf of an organization. Irrefutable confirmation of this authenticity - a person’s name and official role - is critical when sensitive business activities are performed digitally, such as the remote approval of transactions, or e-signing contracts.