Over Half of Salespeople in Banking Spend 27% of Their Working Week Onboarding New Client Organizations

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Six in 10 (57%) senior salespeople in banking spend more than 1.5 days of their week (27% of their working week) onboarding new client organizations, according to research findings published by the Global Legal Entity Identifier Foundation (GLEIF). The research also found that 50% of financial institutions use, on average, four identifiers to help identify client organizations. The data supports GLEIF’s view that replacing disjointed information with a globally accepted approach based on broad adoption of the Legal Entity Identifier (LEI) would remove complexity from business transactions and deliver quantifiable value to financial services firms.

The findings form the basis for a new research report from GLEIF titled ‘A New Future for Legal Entity Identification’. To download the report as well as a separate document detailing the research findings, click here.

To learn more about the benefits that businesses can generate based on global LEI adoption, visit this dedicated GLEIF website section: ‘LEI Solutions’.

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