Proof of Concept Uses Biometric Identification with Legal Entity Identifiers on Trade Platform
Steven Beck · ADB briefs · 2021
KEY POINTS• The Legal Entity Identifier (LEI), a code that verifies legal entities, is transforming global trade.• The LEI has been implemented globally, including among small companies in small developing countries.• Using biometric identification to tie representatives of legal entities to their organization strengthens the identification process.• Proof of concept shows that the LEI can be integrated into an existing financial transaction platform, which uses biometric identification.