What is a Legal Entity Identifier (LEI number) and why does my company need one?

The Legal Entity Identifier (LEI) is a 20-character alphanumeric identifier used to uniquely identify legal entities involved in financial transactions.

The purpose of the LEI is to create transparency in the global financial system by enabling the unique identification of companies and other legal entities operating in financial markets. LEIs were introduced to improve risk management, increase transparency and facilitate the monitoring of systemic risks in the financial system. They are issued by authorized authorities or by LEI issuers commissioned by them. The LEI number contains information about the legal entity it identifies, including the legal entity, the country in which it is registered and additional data necessary to clearly establish the identity.

Please note that every company must have a valid LEI in order to actively use UnitPlus Business. If your company does not yet have an LEI number, you can apply for one directly during the registration process. The process is completely digital and usually only takes a few hours until activation.