Partnership with LEI to Improve Business Authentication and Transparency for Financial Industry and KYC Process
XYO Network, the technology bringing blockchain to the real world, has partnered with Legal Entity Identifier (LEI), a global portal created to deliver a consistent, resolution mechanism for the LEI system, the de-facto standard for identifying banks and companies actively involved in the financial industry. Together, the companies will improve business authentication for clients.
XYO Network Partners with Leading Authentication Portal LEI to improve business authentication and transparency for financial industry and KYC process
With simplicity at its core, the LEI code holds tremendous importance for the transparency of financial markets and for all KYC (“Know Your Customer”)-based business decisions (such as client on-boarding) in the world of finance and beyond.
“Our partnership with XYO can drive real value in many ways,” said Mirek Sopek, President, Legal Entity Identifier. “The LEI code is important from a transparency perspective, in financial markets and for KYC-related business decisions in other industry segments. Our work with XYO adds to our ability to deliver for clients. Together, we can bring business authentication to an entirely new level. We’ll be announcing further details of our partnership soon.”
“We’re excited to build out our partnership and to work closely with LEI,” commented XYO Network co-founder Markus Levin. “There are many applications for relative location verification, and we’re happy to work with such a forward-looking service organization like LEI to incorporate relative location verification and blockchain technology into their business processes as they validate transparency across the financial industry. Both teams expect to see both efficiency and improved client service result, which will be a win for all involved.”