LEI Consolidation & Alignment

This service offers a streamlined bulk transfer process for organizations with numerous LEIs dispersed across jurisdictions and providers. With NordLEI, businesses gain enhanced control and visibility over their LEIs through a centralized dashboard showcasing all LEIs and their renewal dates with a single provider.

This consolidation process reduces costs by centralizing LEI governance, enhances efficiency, and bolsters data quality by migrating away from providers with historically lower LEI data quality standards.

Despite the growing importance of LEIs, many organizations still rely on outdated management methods, leading to fragmented portfolios across multiple providers. This fragmented approach poses several risks:

  • Non-Compliance Risk: Companies managing multiple LEIs risk non-compliance with regulatory requirements, particularly those with intricate corporate structures. Failure to renew or update LEI information promptly can result in penalties from regulatory authorities.
  • Annual Renewal Fee Costs: Managing multiple LEIs incurs significant annual renewal fees. By consolidating LEIs under a single provider like NordLEI, organizations can benefit from more efficient and cost-effective pricing plans.
  • Administrative Burden and Confusion: Managing multiple LEIs can be administratively burdensome, leading to confusion regarding registration details and login credentials. This may result in last-minute scrambles to locate and renew LEIs.

In addition to consolidation, NordLEI offers a convenient service to align the renewal dates of all LEIs on the user account. This feature ensures that organizations can easily manage their LEI portfolio and avoid the hassle of multiple renewal dates, further enhancing efficiency and compliance.

NordLEI will guide and keep you updated throughout the process.

Create an account and get in touch today to initiate your LEI consolidation process.

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