Contour extends use of LEI to inclusion in trade finance network

Contour, a digital trade finance network, has partnered the Global Legal Entity Identifier Foundation (GLEIF) to enable the use of Legal Entity Identifiers (LEIs) within its network and to financially support its members in obtaining their own LEI. By adopting the entity identifier, Contour’s members will benefit from increased confidence among their trading counterparties, lower data reconciliation costs, reduced transaction discrepancies and improved risk management. Contour plans further use of the LEI including building the identifier into its KYC processes and collaborating on the GLEIF-led Verifiable LEI (vLEI) initiative.