Global IDs Releases Legal Entity Identifier Integration Suite
Designed for rapid deployment inside financial institutions.
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Global IDs, Inc., a data governance and master data management (MDM) software company, has relased its new Legal Entity Identifier (LEI) Integration Suite, designed for rapid deployment inside financial institutions across the globe.
LEIs will be utilized by major stakeholders in global financial markets to create transparency in their data environments. Both regulatory agencies and financial institutions have agreed to implement LEIs in their databases starting January 2013.
The Global ID's LEI Integration Suite searches for legal entity information across the enterprise data landscape. It detects local identifiers of legal entities, clients, accounts, and counter parties, by automatically scanning hundreds of databases to detect those tables where LEIs need to be integrated. It then proceeds to systematically cross-reference local identifiers with global LEIs.
The primary benefit of LEI implementation is improved analysis of risk and exposure. By creating transparency and traceability in enterprise data, organizations can understand the potential impact of other financial institutions on their own organizations.
“The manual introduction of LEIs in the databases of a financial institution is very time consuming and expensive,” said Dr. Arka Mukherjee, founder and CEO, Global IDs. “The Global ID’s LEI Integration Suite automates numerous parts of an implementation project and significantly reduces the cost of implementation."
The Global ID’s LEI Integration Suite creates integrated master data and governance for legal entities, and also provides Web services to make LEI information available to other applications. It runs on platforms that support Java and is usually implemented on Windows or UNIX Systems.
More information is available at www.globalids.com.