Organizational Identity in the Private and Public Sector with the vLEI

With heightened reliance on remotely delivered services and transactions, the need for safer and sounder digital identification and verification is required and will become the norm in the future. This especially is true looking forward to mandates for the adoption of zero trust frameworks in which digital credentials will be issued and then used for identification and operational purposes. GLEIF is committed to making concrete and lasting improvements to the process of identity verification by leveraging the Legal Entity Identifier (LEI) in digital tools. GLEIF has made the LEI verifiable by creating the vLEI (verifiable LEI) with digital credentials that deliver decentralized identification and verification for organizations as well as the persons who represent their organizations either in official or functional roles. GLEIF has developed the governance, credentials and infrastructure since introducing the vLEI in 2020, will share an update on progress and will provide a pilot example addressing the identification, authentication, authorization, security and management of users in charge of submitting mandated supervisory reporting.