SAN DIEGO--(BUSINESS WIRE)--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.
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.”
LEI.INFO is a SaaS (Software As A Service) solution dedicated to the LEI, a global identifier designed for the unambiguous, credible and unique identification of distinct legal entities participating in transactions across global markets. LEI.INFO offers a wide range of LEI-related services including help to legal entities to access the registration facilities for LEI issuance, support in finding the appropriate LEI for a legal entity, and resolving LEI codes for both human-readable information and machine-consumable data. LEI.INFO also offers an array of integration services for obtaining more intricate information regarding Legal Entities, which can be pivotal for both KYC and customer on-boarding processes. https://lei.info
About XYO Network
XYO Network is an effort to create a vast, geospatial, blockchain-powered location network currently under development with the goal to provide accurate, certainty-driven location data on everything from cars to smartphones. By combining location beacons with IoT and mobile devices, the XYO Network ecosystem plans to deliver the verified coordinates and data needed to execute smart contracts, run smart cities, foster financial transactions, and power a legion of location-centric applications. For more information, please visit https://xyo.network.