Organizational Identity

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The digital revolution has created unparalleled opportunities and incentives for businesses to trust and be trusted. Levels of cooperation and competition between businesses everywhere, fuelled by digital transformation, are increasing across the globe. Organizations able to establish their, and their trading partners’, legitimacy can create, and benefit from, limitless economic opportunities by participating in global markets.

To participate in, and benefit from, the global digital economy, business entities must have the capability to be universally recognized across borders. Equally, they must be able to establish the legitimacy of trading partners.

GLEIF envisions a future where every business has a verifiable trusted global identity – the Legal Entity Identifier (LEI) – which is hardwired into all relationships and transactions. This would ease international trade, accelerate economic growth, and help to address a range of global challenges: financial and corporate fraud, financial exclusion, friction in international capital flows, the burden of environmental compliance, money laundering and the financing of terrorism.

This need for secure, certain and verifiable Organizational Identity presented the opportunity for GLEIF to develop Organizational Credentials, verifiable LEIs, or vLEIs, with the LEI as a basis, that are able to verify the identity of an organization as well as the people that represent the organization, both inside and outside the boundaries of that organization.

Use of the vLEI enables the following capabilities to deliver secure, certain and verifiable Organizational Identity:

• Permissioning - Confirmation that a organization, or representative of this organization is authorized to access a system or to perform an action
• Digital Signing - Digital sealing or signing (of documents, contracts, reports, invoices, data) by an organization or an authorized representative
• Authentication - Verification of the cryptographic validity of the vLEI credential and the digital signature

Establishing the LEI and vLEI, the “only” solution that ties persons to companies, as foundational for verifiable organizational identity. Read on to learn more on how the LEI and vLEI will benefit you.