BIS and Gleif team on LEIs in cross-border open finance prototype
The Global Legal Entity Identifier Foundation (GLEIF) and the Bank for International Settlements (BIS) have demonstrated how the Legal Entity Identifier (LEI) can bring new Know Your Customer/Business (KYC/B) and Anti-Money Laundering (AML) process efficiencies to small and medium-sized enterprises (SMEs) when using open banking and open finance APIs to initiate payments and open business accounts across borders.
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