LEI data should be centralised, reduces risks, say banks

Implementation points to LEI benefits and best practices

Fingerprint scanning technology on detail pixellated screen
LEI data is increasing operational efficiency

It is a rare opportunity to get a fresh start when it comes to technology in financial services. With so many firms operating on legacy systems, the chances to work with a clean slate are few and far between.

In the case of legal entity identifiers (LEIs), firms are getting the opportunity to do just that. As more companies adopt LEIs – currently, more than 360,000 have been issued – firms have to develop methods of organising them.

Two employees of top-tier banks shared similar stories about

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