LEI Code and KYB: How to Identify Business Partners Reliably
What is KYB? KYB, or Know Your Business, is the process of verifying the identity, ownership structure, and legal status of business partners, suppliers, and clients — both before and during a business relationship. KYB developed as part of the broader KYC (Know Your Customer) framework. KYC covers customer due diligence in general, applying to […]
Why Artificial Intelligence Needs Reliable Business Identity
Why business identity matters for AI Artificial intelligence is transforming how companies process data, assess risk, and make decisions. Financial institutions use AI to detect fraud, assess credit risk, and verify counterparty identity. Across industries, automated systems increasingly rely on AI to screen suppliers, partners, and clients before entering into contracts or transactions. In all […]
LEI Code and DORA: What ICT Providers Need to Know
What Is DORA? The Digital Operational Resilience Act — known as DORA — is Regulation (EU) 2022/2554, adopted by the European Parliament and the Council on 14 December 2022. The EU published it in the Official Journal on 27 December 2022. It entered into force on 16 January 2023 and became fully applicable on 17 […]
Do Companies Need an LEI Code in 2026?
LEI is no longer limited to financial institutions Most companies initially assume that the LEI code only applies to banks or large financial institutions. However, this perception is outdated. Over the past decade, the role of LEI has expanded significantly across multiple sectors and jurisdictions. Today, companies encounter LEI requirements when they move into more […]
FATF Travel Rule Explained
The FATF Travel Rule (Recommendation 16) requires financial institutions to include information about the sender and the recipient in certain transactions. This article explains what the rule means in practice, why FATF Travel Rule compliance can be difficult, and how structured identifiers like LEI help solve this challenge. What is the FATF Travel Rule? The […]
vLEI and Business Authentication
Could vLEI technology replace passwords for business authentication in the future? The digital world still relies heavily on passwords. Every day, people log into systems, approve transactions, and access platforms using user accounts and passwords. In a business context, however, this approach has an important limitation. A password only proves that someone was able to […]
How LEI Is Used in the USA
Why LEI Is Used in the USA In the United States, the LEI code is used in situations where a company’s activities involve regulated financial transactions or the use of professional financial services. LEI was not created as a general company identifier nor as a substitute for a business registry. Its purpose is to enable […]
LEI Code in Cyprus
When Is an LEI Code in Cyprus Required? The LEI Code in Cyprus is required in specific regulatory situations, particularly when a company participates in financial transactions covered by European Union legislation. However, not every Cyprus company must obtain an LEI. The obligation depends on the company’s activities, not simply on its place of registration. […]
How LEI Works in Practice in the EU
Why LEI Is Not Just a Formal Requirement Many companies first encounter the LEI code when a bank, broker, or another financial service provider tells them they need one. The requirement often feels like another formal step before a transaction can move forward. From a company’s perspective, the LEI may seem like just a number […]