Proof of Concept Uses Biometric Identification with Legal Entity Identifiers on Trade Platform

Publication | July 2021
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This brief reports on a proof of concept project that used Legal Entity Identifiers with biometric identification in a trade platform to enable users to verify authorized company representatives.

The Legal Entity Identifier (LEI) is a 20-digit standard identifier that helps organizations meet due diligence and know-your-customer requirements, including for small businesses. To strengthen the identification process, biometrics such as facial recognition can be used with the LEI so that parties in a transaction can verify their counterparts are authorized representatives of that entity. The Global Legal Entity Identifier Foundation conducted the proof of concept project with support from ADB.

Additional Details

Author
Type
Series
Subjects
  • Finance sector development
  • Small and medium enterprise (SME) financing
  • Governance and public sector management
  • Anti-money laundering
  • Information and Communications Technology
  • Private sector development
  • Trade and Supply Chain Finance
Pages
  • 4
Dimensions
  • 8.5 x 11
SKU
  • BRF210286-2
ISBN
  • 978-92-9262-980-9 (print)
  • 978-92-9262-981-6 (electronic)
ISSN
  • 2071-7202 (print)
  • 2218-2675 (electronic)

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