GLEIF and Finbridge Global streamline identity verification of fintech providers
04 November 2024 Switzerland
Image: chaylek/stock.adobe.com
The Global Legal Entity Identifier Foundation (GLEIF) and Finbridge Global have collaborated to enable financial institutions and investors to streamline the identity verification of fintech providers.
Finbridge Global is a global platform that enables financial institutions and investors to search, compare, and assess fintech companies at the product level, with the aim of reducing the due diligence process.
The collaboration will allow Finbridge Global to introduce the legal entity identifier (LEI) to verify the identity of listed fintech providers on the platform, promoting increased transparency, security, and accountability.
In addition, Finbridge Global will provide and manage LEIs for fintechs on its platform through its partnership with LEI Worldwide.
Barbara Gottardi, CEO and founder of Finbridge Global, says: "By embedding LEIs into our platform, we offer financial institutions and investors a frictionless and instant means of verifying that fintech companies are who they say they are, while preserving data privacy and confidentiality.
鈥淭his is a pivotal step toward creating a unified, globally recognised identity management system that speeds up the establishment of new partnerships, while elevating industry standards.鈥�
An LEI is a unique, ISO-standardised 20-character code assigned to a legal entity.
The Global LEI Index is an open, freely accessible, globally recognised data bank that holds LEI links to all verified companies.
The use of the LEI aims to deliver benefits for all participants across the Finbridge Global ecosystem.
LEI data can also be used to map corporate structures and relationships, says GLEIF, enabling a better understanding of the interconnections between legal entities and allowing the broader risks posed by organisations operating internationally to be more accurately assessed.
"While the dynamism of the global fintech sector is helping to transform the delivery of financial services, many potential partnerships are inhibited as financial institutions and investors lack the information needed to meet stringent due diligence requirements,鈥� says Alexandre Kech, CEO of GLEIF.
鈥淚ntegrating the LEI into the Finbridge Global platform addresses this challenge by setting a new standard of trust that accelerates and enhances know-your-customer (KYC) and know-your-business (KYB) processes, promoting faster onboarding and enabling financial institutions and investors to operate with confidence.鈥�
In July, GLEIF partnered with Global Digital Finance (GDF) to promote data standardisation and foster interoperability between the digital asset ecosystem and traditional finance.
Finbridge Global is a global platform that enables financial institutions and investors to search, compare, and assess fintech companies at the product level, with the aim of reducing the due diligence process.
The collaboration will allow Finbridge Global to introduce the legal entity identifier (LEI) to verify the identity of listed fintech providers on the platform, promoting increased transparency, security, and accountability.
In addition, Finbridge Global will provide and manage LEIs for fintechs on its platform through its partnership with LEI Worldwide.
Barbara Gottardi, CEO and founder of Finbridge Global, says: "By embedding LEIs into our platform, we offer financial institutions and investors a frictionless and instant means of verifying that fintech companies are who they say they are, while preserving data privacy and confidentiality.
鈥淭his is a pivotal step toward creating a unified, globally recognised identity management system that speeds up the establishment of new partnerships, while elevating industry standards.鈥�
An LEI is a unique, ISO-standardised 20-character code assigned to a legal entity.
The Global LEI Index is an open, freely accessible, globally recognised data bank that holds LEI links to all verified companies.
The use of the LEI aims to deliver benefits for all participants across the Finbridge Global ecosystem.
LEI data can also be used to map corporate structures and relationships, says GLEIF, enabling a better understanding of the interconnections between legal entities and allowing the broader risks posed by organisations operating internationally to be more accurately assessed.
"While the dynamism of the global fintech sector is helping to transform the delivery of financial services, many potential partnerships are inhibited as financial institutions and investors lack the information needed to meet stringent due diligence requirements,鈥� says Alexandre Kech, CEO of GLEIF.
鈥淚ntegrating the LEI into the Finbridge Global platform addresses this challenge by setting a new standard of trust that accelerates and enhances know-your-customer (KYC) and know-your-business (KYB) processes, promoting faster onboarding and enabling financial institutions and investors to operate with confidence.鈥�
In July, GLEIF partnered with Global Digital Finance (GDF) to promote data standardisation and foster interoperability between the digital asset ecosystem and traditional finance.
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