GLEIF helps UK businesses become more globally identifiable

The Global Legal Entity Identifier Foundation (GLEIF) has a new initiative with the UK business registry Companies House to improve the discoverability of UK businesses.

The initiative will simplify the international identifiability of UK businesses. Any users of Legal Entity Identifier (LEI) globally will be able to access that entity’s Companies House registration data and documentation with a single click.

This is because a direct URL link will be embedded into the LEI records of UK companies. The move is expected to streamline counterparty due diligence and bring greater transparency to global transactions.

The initiative facilitates Know Your Customer (KYC) and Know Your Supplier (KYS) checks for any organization seeking to do business with a LEI-holding limited company registered in the UK. It should benefit small and medium enterprises looking to expand into new markets in particular.

“GLEIF and Companies House are on a mission to drive corporate transparency, bringing significant benefits to global marketplaces engaging with the UK,” said Alexandre Kech, CEO of GLEIF. “Enabling LEI data users to click through to the registration data and official documentation will make the ‘business of doing business’ with UK firms faster and easier to navigate,” he added.

That’s because every LEI links to a verified company identity record held in the Global LEI Index, which is free for all to access to find the key reference information registered by local authoritative sources.

The launch of the GLEIF and Companies House linking initiative follows a similar GLEIF collaboration with The Netherlands Chamber of Commerce (KVK) announced last month.

Article Topics

Companies House  |  digital government  |  digital identity  |  GLEIF  |  KYC  |  Legal Entity Identifier (LEI)  |  UK