LEI Register and RapidLEI Announce Official Partnership
Streamlining Legal Entity Identifier (LEI) availability for organizations all over the globe
London, UK, and Tallinn, Estonia. January 10, 2019 – LEI Register, a leader in the provision and management of Legal Entity Identifiers (LEIs), and RapidLEI, a fully accredited LEI issuer specializing in the automation of the LEI issuance process, today announced a partnership. LEI Register will offer LEIs issued by RapidLEI, to make the registration of LEIs faster and more accurate for their global customers.
Unlike any other global company identifiers, LEI is backed by the G20 and therefore has the momentum and support to overcome any hurdles associated with achieving mass global adoption for best practices and regulation.
LEI Register, established in 2018, and RapidLEI, established in 2018, have a shared mission to make LEIs more accessible to organizations all over the world and to develop and promote new technology use cases where LEIs provide a ‘single verifiable corporate identifier’ function. The two relatively new companies in the LEI ecosystem concur that a combination of automation technology and excellent customer service is necessary to better serve the existing LEI market and to ensure the LEI extends into new technology use cases.
LEI Register is an official registration agent represented in 25 countries and has gained a significant share of the LEI implementation and distribution market. RapidLEI is a newly accredited LEI Issuer, or LOU (Local Operating Unit), and since launching in June 2018 has experienced the highest growth in the LEI issuance market, outpacing existing LEI issuers with a 600% quarter-on-quarter growth of its customer base.
The two companies have been cooperating with great success since RapidLEI launched. LEI Register is now registering almost 1000 LEIs per month and RapidLEI is the only LEI Issuer able to confirm the LEI application in minutes. RapidLEI’s automation technology also ensures greater levels of LEI accuracy.
Toomas Pavelson, CEO of LEI Register, said that both parties share the same vision. “We want to make LEI application easier. Simple application form, data-autofill, variety of payment solutions, digital signature, automatic data accuracy check – all this should make the process painless and done in a matter of minutes. This drives the price down for the applicant and makes LEIs more accessible.”
Paul Tourret, Corporate Development Director for RapidLEI, said “the RapidLEI founders have a long history of disrupting the transactional identity market by using automation and customer service to provide better availability, speed, and experience. We saw this in the 2000s after founding SSL providers like GlobalSign and GeoTrust Europe, and now we see a similar opportunity to make LEIs as ubiquitous as SSL. To work alongside world-class partners like LEI Register will realize our shared goals and we look forward to a long and fruitful relationship for the benefit of LEI Register customers.”
LEIs are available from LEI Register at www.legalentityidentifier.co.uk