RapidLEI and iS4B Announce Partnership to Provide Strategic LEI Advice and Issuance to FIs

The partnership combines iSoftware4Banks’ expert financial compliance advice with RapidLEI’s renowned automated Legal Entity Identifier issuance technology.

LONDON, UK and MIAMI, USA – 17 January 2022 – RapidLEI, the world leading Legal Entity Identifier (LEI) issuer, recently announced a new partnership with iSoftware4Banks, a global payments, financial regulatory compliance and reporting automation specialist. The partnership empowers iSoftware4Banks to issue LEIs using RapidLEI’s automated issuance technology, seamlessly providing its clients with LEIs to enable compliant financial transactions.

iSoftware4Banks offers a range of services to financial institutions, such as banks and credit unions, supporting efficient and effective financial reporting and compliance, payment systems modernization and transformation, business development, strategic planning, and implementation support for a variety of software solutions. LEIs are 20-character alphanumeric codes which uniquely identify organisations in a global database run by the Global LEI Foundation. With more than 2 million LEIs now issued worldwide, the LEI is mandated by several national and international regulations, such as those set by the US Commodity Futures Trading Commission (CFTC).

Against this background, iSoftware4Banks recognised the need for accuracy and speed when obtaining LEIs in order to mitigate against any delays to financial transactions. This led the company to form a partnership with RapidLEI.

Vincent Raniere, Chief Executive Officer at iSoftware4Banks, said, “With extensive experience of working in operations and compliance within the financial industry, we have seen the impact and potential of LEIs to revolutionize the space. RapidLEI’s automated issuance API offers us a fast and simple way of obtaining LEIs for our clients, with innovations like the multiyear option making the process that much more efficient.”

RapidLEI is the leading LEI issuer for new LEIs globally, and became number two in November for total number of LEIs issued over all time, passing Bloomberg and WM Datenservice. Its growth is largely down to its technological innovations and extensive partner base for a variety of pioneering use cases.

Chris Hudson, Director of Channel Sales at RapidLEI, said, “We’re delighted to be working with iSoftware4Banks. The team’s commitment to meeting their clients’ LEI requirements, alongside many years of experience in the financial space, means this partnership is important to RapidLEI’s sustained growth.”

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