About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Briefs

New ISO Standard Extends Use of LEI-Based Digital Identity Tools

Subscribe to our newsletter

A recently published ISO standard, ISO 5009, has the potential to extend the utility and value of Legal Entity Identifier (LEI) based digital identity tools by facilitating the inclusion of ‘official organisational role’ detail within them in a consistent manner. ISO 5009 paves the way for these tools – such as verifiable LEI (vLEI) credentials and digital certificates with embedded LEIs – to become a universally trusted method of digitally confirming the authenticity of people authorised to act on behalf of an organisation.

Published in February 2022, ISO 5009 permits global uniformity of the listing of official organisational roles by jurisdiction in a structured way. This means that roles of persons acting officially on behalf of an organisation may be specified by a legal entity and incorporated into existing and future digital assets leveraging the LEI.

Stephan Wolf, CEO at GLEIF comments: “In business and regulatory exchanges, it is important to confirm the official roles of people acting on behalf of organisations. In a digital context this can be challenging yet uncompromisingly necessary as we move towards creating and sustaining a digital global economy. For this reason, GLEIF has been committed to the realisation of this ISO standard as it is a significant step forward towards addressing that challenge.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Are you making the most of the business-critical structured data stored in your mainframes?

Fewer than 30% of companies think that they can fully tap into their mainframe data even though complete, accurate and real-time data is key to business decision-making, compliance, modernisation and innovation. For many in financial markets, integrating data across the enterprise and making it available and actionable to everyone who needs it is extremely difficult....

BLOG

Data Infrastructure Faces Stress Test as Private Credit Consolidation Beckons

By Charles Sayac, Managing Director EMEA West, NeoXam. A bout of consolidation unseen in the sector’s history may be on the cards for the private credit space – one that threatens to unearth a host of complex data challenges for the unprepared. A recent Carne Group report revealed almost all (96 per cent) of private debt managers...

EVENT

Buy AND Build: The Future of Capital Markets Technology

Buy AND Build: The Future of Capital Markets Technology London examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Enterprise Data Management, 2009 Edition

This year has truly been a year of change for the data management community. Regulators and industry participants alike have been keenly focused on the importance of data with regards to compliance and risk management considerations. The UK Financial Services Authority’s fining of Barclays for transaction reporting failures as a result of inconsistent underlying reference...