The FSB identifies the Legal Entity Identifier Regulatory Oversight Committee (LEI ROC) as best positioned to be the single International Governance Body (IGB) for the UTI and UPI

The FSB identifies the Legal Entity Identifier Regulatory Oversight Committee (LEI ROC) as best positioned to be the single International Governance Body (IGB) for the UTI and UPI

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An interesting development in the financial world of data standards. The Financial Stability Board or FSB has promoted the LEI ROC to also be the governance body for Unique Transaction Identifiers (UTIs) and Unique Product Identifiers (UPIs). What does all this mean for the financial services industry?

Legal Entity Identification Data Mapping

Legal Entity Identification Data Mapping

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LEI Mapping is less about translating communications and more about making connectivity, interactions and identification more seamless. An example of where this can really benefit is a bank’s Know Your Customer due diligence process. It’s important for a bank to do KYC on new clients in order to reduce fraud but as we know, fraud is actually on the rise as banks struggle to make concrete identifications of their clients and customers.

What is ISO 20022?

What is ISO 20022?

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Open banking, PSD2, digital ID – what do all of these have in common? They’re making financial transactions more efficient and safe. ISO 20022 is like the string that holds them all together – the standard language! Learn more about ISO 20022 in our guide. #Payments #Finance

Does Know Your Customer (KYC) Really Work?

Does Know Your Customer (KYC) Really Work?

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In an ideal world, trust in commerce would be inherent in every transaction. But for this to be the case, we must live in a world without lies. And if… Read more

Who Are the Global Legal Entity Identifier Foundation (GLEIF)?

Who Are the Global Legal Entity Identifier Foundation (GLEIF)?

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The ManagedLEI website touches on the Global Legal Entity Identifier Foundation or GLIEF as I’ll refer to them here on out. However, the page only provides a quick summary of… Read more

An Introduction to the Markets in Financial Instruments Directive 2 (MiFID II)

An Introduction to the Markets in Financial Instruments Directive 2 (MiFID II)

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The Markets in Financial Instruments Directive 2 (MiFID II), took effect in January 2008, revising the original Markets in Financial Instruments Directive (MiFID I) of November 2007. Its purpose? To… Read more

A Complete Guide to Legal Entity Identifiers (LEIs)

A Complete Guide to Legal Entity Identifiers (LEIs)

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What is a Legal Entity Identifier (LEI)? A Legal Entity Identifier or LEI Number is a 20-digit unique code defined by the ISO 17442 standard. An LEI number can be… Read more

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