Validation Agent

The Validation Agent Framework, introduced by GLEIF, streamlines the process of issuing and maintaining Legal Entity Identifiers (LEIs). A Validation Agent integrates LEI issuance into their existing Know Your Customer (KYC) and Anti-Money Laundering (AML) workflows during onboarding or annual controls. This role reduces process duplication and enhances efficiency by using data already verified during client onboarding or refresh procedures.

Who is eligible to become a Validation Agent?

Financial institutions or organizations involved in supervised identity verification and validation. Organizations with robust KYC/AML practices overseen by independent authorities.

Key Benefits:

  • For Financial Institutions (FIs): Faster onboarding, improved client experience, reduced costs, and new revenue opportunities through digital services

  • For Clients: Simplified LEI acquisition, quicker onboarding, and reduced frustration from duplicative/external processes

  • For the LEI Ecosystem: Broader LEI adoption, readiness for increased LEI demand, and enhanced transparency in global transactions

The Validation Agent role also supports global initiatives like including LEIs in ISO 20022 payment messages, aiding compliance, fraud detection, and cross-border transaction efficiency.

Steps to Become a Validation Agent:

  1. Application Process: Contact us to express interest and start a discussion on future partnership steps. We will offer to liaise with the GLEIF for further communication about eligibility and operational requirements. Your organization can also contact GLEIF directly to initiate the process.

  2. Operational Responsibilities: Verify legal entity information, such as name, registry details, and addresses. Perform LEI duplication checks and adhere to ISO 17442 standards. Liaise with NordLEI to ensure compliant issuance and updates.

  3. Collaboration with LEI Issuer(s): Validation Agents collaborate with Local Operating Units (LOUs), leveraging their local expertise to maintain data standards while expediting processes.

By reducing onboarding duplication and promoting digital transformation, Validation Agents enhance operational efficiency and contribute to global financial transparency. This role positions organizations as leaders in identity management, enabling them to facilitate secure, trustworthy global transactions.

You can read more about the benefits of becoming a Validation Agent and read testimonials from already existing Validation Agents here.

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