Data quality as a competitive advantage: How to solve LEI challenges quickly – and why it matters

14 April 2025

High-quality LEI data: A strategic necessity

In a globally connected economy, reliable data is not a luxury but the foundation for informed decision-making, innovation and regulatory certainty. Companies that rely on accurate information act faster, more securely, and build trust. In the financial sector, in particular, up-to-date master data – such as Legal Entity Identifiers (LEIs) – is essential.

What does the key figure ‚Average days to resolve a challenge‘ measure?

GLEIF’s Challenge LEI Data Service enables users to report errors in LEI records. The ‚Average days to resolve a challenge‘ metric describes how quickly the relevant LEI issuer corrects such reported errors. In March 2025, this figure was an impressive five days—a clear signal of efficiency and responsiveness in the Global LEI System.

Why fast processing times are so important

Incorrect or outdated LEI data can lead to considerable risks:

– Regulatory issues:

Incorrect data can cause compliance violations.

– Operational risks:

Decisions based on incorrect information jeopardise processes.

– Reputational damage:

Loss of trust among partners and customers.

A low average processing time strengthens the system’s integrity and protects everyone involved from precisely these risks.

How the LEI challenge process works at GLEIF

1. Identify the problem

Users can recognise incorrect LEI entries via GLEIF search functions or downloads.

2. submit an objection

Inaccuracies can be reported with supporting documents on the GLEIF website.

3. review by LEI issuer

Within approximately ten working days, the challenge will be reviewed and – if justified – corrected.

4. update of the LEI entry

After successful validation, the data record is updated immediately.

More than just a key figure: a signal of trust

The reduction in processing time to an average of five days shows that GLEIF and the LEI issuing organisations are actively investing in a reliable, responsive data ecosystem. This not only enables better management of LEI data but also promotes trust in financial markets worldwide.

Conclusion: Taking data quality seriously builds trust

Updating LEI data quickly and accurately is essential to modern data strategy. The continuous optimisation of these processes by GLEIF – and the transparent publication of such key performance indicators – make it clear that the LEI is not just an identifier but a tool for strengthening the global financial infrastructure.