The value of Legal Entity Identifier (LEI) in Cross-Border Payment Flows

Adding the Legal Entity Identifier (LEI) as a data attribute in payment messages enables precise, automated identification of entities across borders, supporting the global push for instant payments.

The LEI enables cross-border payment transactions to become faster, cheaper, more transparent, and more inclusive.

Adding the Legal Entity Identifier (LEI) as a data attribute in payment messages enables precise, automated identification of entities across borders, supporting the global push for instant payments.

The Financial Stability Board (FSB) has endorsed the LEI to enhance cross-border payment verification as part of its G20-backed roadmap.

This initiative, aligned with ISO 20022 standards, aims to standardize data fields and identifiers in payment messaging.

GLEIF, collaborating with payment industry leaders, highlights the LEI’s value in five key areas: screening, KYC and onboarding, fraud prevention, e-invoice reconciliation, and account validation.

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