GLEIF supports the implementation of the Legal Entity Identifier (LEI) and the availability of the Global LEI Index. Through the partnership, Surecomp looks to facilitate Know your Customer (KYC) compliance and provide customers with immediate certainty and authentication that the credentials of their trade counterparts are verified and trustworthy.
The Global LEI Index – an online source of open, standardised, and high-quality legal entity reference data – will be embedded into all of Surecomp’s cloud-based solutions to provide customers with real-time access to the unique identification data of legal entities participating in their trade finance transactions. The readily available and verified information covering detail such as ownership structure and subsidiary addresses will reduce the time currently spent by financiers and corporates on KYC checks as part of the transaction lifecycle, further improving operational efficiencies and driving trade growth.
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