The Global Legal Entity Identifier Foundation (GLEIF) has announced a collaboration with Finbridge Global to improve the identity verification process for fintech providers. This partnership aims to simplify the due diligence efforts of financial institutions and investors, supporting forming partnerships across the global financial services sector.

Finbridge Global, a platform designed for financial institutions and investors to search, compare, and assess fintech companies at a product level, will integrate the Legal Entity Identifier (LEI) into its system. This integration is expected to improve transparency and security by verifying the identity of fintech providers listed on the platform. Finbridge Global will also manage LEIs for fintech companies through a partnership with LEI Worldwide.

Boosting transparency and efficiency with LEI integration An LEI is a 20-character, ISO-standardized code that uniquely identifies legal entities. Each LEI connects to a verified company identity record in the Global LEI Index, a publicly accessible database. With over 2.7 million LEIs issued globally, this system enables reliable verification of organisational identities.

The collaboration is expected to benefit fintech providers by offering them a globally recognised identity, facilitating quicker and more efficient connections to the marketplace. For financial institutions and investors, the LEI will simplify due diligence and procurement processes by providing clear digital identification of potential fintech partners. The data from LEIs can also map corporate structures, offering deeper insights into the relationships between legal entities and enabling more accurate risk assessments for organisations operating internationally.

The introduction of LEIs into the Finbridge Global platform is seen as a step toward establishing a globally recognised identity management system, improving security and trust in financial transactions.GLEIF was established in 2014 to support the implementation and use of LEIs. It is a not-for-profit based in Switzerland and it provides access to the global LEI database through an open data licence. The organisation is overseen by the Regulatory Oversight Committee, which includes public authorities from around the world.

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