esatus AG & GLEIF close partnership agreement to promote LEI and vLEI

On June 19, 2024, we announced the closing of a partnership agreement between us, esatus AG and the Global Legal Entity Identifier Foundation (GLEIF). This strategic alliance aims to promote the benefits of a global trust-based digital ecosystem to businesses and government organizations worldwide and to raise the adoption and use of Legal Entity Identifiers (LEI) and verifiable Legal Entity Identifiers (vLEI). But what exactly does this mean and why is it so important? 

What are LEI and vLEI? 

First, a brief overview: LEIs and vLEIs are unique identification systems that help companies around the world to verify their identity in digital transactions in a unique and secure way. The LEI is a global standard that is already used in many industries to increase transparency and security. The vLEI goes one step further and offers a verifiable digital version of the LEI that is even more secure and flexible. 

Objectives of the partnership 

The partnership between esatus and GLEIF focuses on three main objectives: 

• Increasing market acceptance of LEI and vLEI: 
  Conducting targeted information and marketing campaigns to increase awareness of these identification systems The more businesses and industrial sectors use LEI and vLEI, the more secure and efficient global business processes will become.
• Increasing digital security and trustworthiness: 
  Using LEIs and vLEIS will enable companies to make their digital business processes more secure and trustworthy. This is particularly important at a time when digital transactions and online business are increasing rapidly.
• Accelerating digital transformation: 
  Integrating LEI and vLEI into enterprise systems can significantly accelerate digital transformation. Companies can modernize their processes and make them more efficient, ultimately leading to a stronger and more competitive business.

Table of actions

To achieve these goals, esatus and GLEIF have agreed on four table of actions: 

1. Promoting and educating the market:
   Campaigns and events designed to raise awareness and increase acceptance of LEI and vLEI.
2. Marketing activities for LEI and vLEI:  
   promoting the adoption of the identification systems in various sectors by targeted marketing strategies
3. Training and certification programs:  
   Companies will be provided with in-depth information on the benefits and potential  applications of the LEI and vLEI and can obtain relevant certifications.
4. Consulting and integration services:  
   esatus will be recommended by GLEIF and its partners to support companies in the introduction and implementation of LEI and vLEI. esatus can further provide proprietary software to integrate LEI/vLEI into existing ERP- and other enterprise systems.

Importance for the economy

In an increasingly digitalized world, secure and trustworthy identification systems are indispensable. LEI and vLEI offer companies a robust solution to verify their identity clearly and securely in digital business processes. This benefits not only the companies themselves, but also the stability and efficiency of the global economy.

Conclusion 

The partnership between esatus AG and GLEIF marks an important step towards more secure and efficient digital business processes worldwide. By promoting LEI and vLEI, companies can make their digital transactions more secure and trustworthy, which ultimately contributes to a more stable and efficient global economy. The years ahead will show how this collaboration will continue to drive the digital transformation.