BNP Paribas clients to benefit from integrated Legal Entity Identifier issuance and management, in partnership with RapidLEI service from Ubisecure.
LONDON, UK – March 16th, 2024 – Today, Ubisecure, one of the world-leading Legal Entity Identifier (LEI) issuer through its RapidLEI service, announces a partnership with international banking group, BNP Paribas. The bank is now approved by the Global LEI Foundation (GLEIF) as a Validation Agent (VA), with Ubisecure as the GLEIF-accredited LEI Issuer.
The VA program enables banks and other financial institutions/trust service providers to leverage existing client onboarding and KYC/AML processes for LEI issuance. With VA status, BNP Paribas is empowered to request LEI issuance within its onboarding validation processes, meaning the bank’s clients benefit from obtaining the LEI without having to apply elsewhere. With the LEI now required or requested by more than 200 regulations, BNP Paribas ensures compliance and uninterrupted transactions without duplicative processes.
Thomas Louis, Global Markets Chief Data Officer at BNP Paribas, said, “Becoming a Validation Agent to issue LEIs as part of existing procedures means greater efficiency for both the bank and our clients, enabling further value within our services and streamlining our customer experience. Our clients need LEIs to do business, and we’re already performing validation checks that meet requirements for LEI issuance. It makes perfect sense to consolidate procedures.”
Ubisecure is a GLEIF-accredited LEI Issuer that is one of the leading LEI issuers of LEIs worldwide. Its RapidLEI service provides an API for LEI lifecycle management and same-session LEI registration, making it simple for VAs to issue LEIs as part of onboarding, and also to discover, consolidate and manage LEIs on behalf of clients.
Paul Tourret, Corporate Development Officer at Ubisecure said, “There are many benefits for banks who become LEI Validation Agents, particularly being able to leverage established onboarding workflows. New ways to incorporate LEIs into various use cases are evolving all the time to make more transparent, trustworthy business interactions, and RapidLEI is proud to be at the forefront of such initiatives.”
Find out more about the Validation Agent program at rapidlei.com/gleif-validation-agents.
About BNP Paribas
BNP Paribas has a presence in 64 countries, with almost 184,000 employees, of which more than 145,000 in Europe. The Group supports all its customers – individuals, associations, entrepreneurs, SMEs and institutions – in the success of their projects through its financing, investment, savings and protection solutions.
BNP Paribas holds key positions in its three operating divisions: Corporate & Institutional Banking for corporate and institutional clients; Commercial, Personal Banking & Services for retail banking networks and specialised financial services, and Investment & Protection Services for savings, investment and protection solutions.
About Ubisecure and RapidLEI
Ubisecure is accredited by the Global Legal Entity Identifier Foundation (GLEIF) to issue Legal Entity Identifiers (LEI). RapidLEI is a Ubisecure service that automates the LEI lifecycle to deliver LEIs quickly and easily. As of May 2024, over 300,000 organisations have chosen RapidLEI to issue their global organisation identifier. As well as pioneering the LEI Everywhere
program, the company is a technology innovator and provides Identity & Access Management (IAM) software and cloud services for Customers, Workforce, & Organisation Identity use cases. Enterprises and Governments use Ubisecure IAM solutions to enhance user experience and security through improved registration, authentication, authorisation, and identity data management. Ubisecure also provides solutions to companies maintaining their own customer identity pools (such as banks and mobile network operators) to become Identity Providers (IdP) for strong authentication and federation services.
For more information about Ubisecure visit www.ubisecure.com or rapidlei.com
Ubisecure LEI: 529900T8BM49AURSDO55
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