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 uniquely identifying companies and other legal entities operating in financial markets. The LEI was introduced to improve risk management and facilitate the monitoring of systemic risks in the financial system. An LEI is issued by authorised authorities or by issuing bodies commissioned by them. The LEI contains, among other things, information about the legal entity and the country of registration.

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 during the registration process. The process is completely digital and usually only takes a few minutes until activation.