Digitalisation of trade: How the LEI code is revolutionising global trade

5 maaliskuun 2025

Simple, efficient and secure – the future of cross-border trade

The globalisation of trade is progressing, but companies continue to struggle with bureaucratic hurdles, inefficient verification processes and high costs in cross-border transactions. A key solution could lie in a Legal Entity Identifier (LEI) – a unique 20-digit identification number that makes companies identifiable worldwide.

But why is the introduction of an LEI code so crucial? How can companies apply for an LEI number, and what are the benefits? In this article, you will discover why now is the right time to consider applying for an LEI number.

What is an LEI, and why is it important?

An LEI (Legal Entity Identifier) is a globally recognised identification number for companies linked to national company registers. This code enables fast, transparent, and reliable identification of companies in financial transactions, contracts, and international trade.

The introduction of a standardised LEI system can drastically improve global trade by

– Simplifying bureaucratic processes

– Reducing costs for companies

– Minimising security risks

– Increasing transparency and trust in business relationships

Many banks, insurance companies and financial institutions already use the LEI code to verify business relationships. Companies that apply for an LEI number at an early stage secure a competitive advantage and avoid delays in their commercial and financial transactions.

Why should your company apply for an LEI number?

Every company that operates internationally should consider applying for an LEI number now. The LEI code offers numerous advantages, especially for companies with cross-border business relationships:

faster and simpler trading processes

The current verification processes are lengthy and expensive. A standardised LEI system enables immediate verification of business identity so that transactions no longer fail due to bureaucratic hurdles.

reduction of fraud and financial risks

Without a universal business identity, fraudulent activities can occur more easily. The LEI code ensures transparent and reliable company verification, making fraud, money laundering, and tax evasion more difficult.

easy integration without high costs

A significant advantage of the LEI system is that it builds on existing business registers. Companies do not need additional infrastructure – the LEI code is integrated into existing registers.

competitive advantage for companies in the UK & USA

UK and US companies, in particular, will benefit from introducing the LEI code, as many financial institutions, banks and authorities already require it. Those who apply for an LEI number at an early stage remain competitive and can integrate smoothly into the global market.

How can I apply for an LEI number?

The LEI number application process is straightforward and can be completed in just a few steps via lei.net:

online registration on lei.net

Visit lei.net and start the application for an LEI number.

enter the company details

Enter the required information, including the company name, registration number and location.

review and approval

After applying, lei.net will check your details and validate them by the international standards of the Global Legal Entity Identifier Foundation (GLEIF).

receipt of the LEI code

After successful verification, your company will be assigned a unique 20-digit LEI number that can be used immediately worldwide.

annual renewal via lei.net

To ensure that your LEI code remains up to date, renewal can also be carried out quickly and easily via lei.net.

Why lei.net?

– Fast application & authorisation

– GLEIF-accredited registration

– User-friendly platform

– Secure & transparent verification

Apply for your LEI number via lei.net and benefit from a fast, secure, globally recognised corporate identity!

Why act now?

Governments and international trade organisations are increasingly focusing on the digitalisation of trade. Companies that apply for an LEI code now will benefit from

– Faster international transactions

– Reduced compliance costs4

– Increased transparency and security

– Better market integration and global access

With the ICC UK working with the UK government and leading banks to introduce an interoperable LEI system globally, it is only a matter of time before the LEI code becomes the standard.

Companies in the UK and US that apply for an LEI number now will secure a head start in digital commerce.

Conclusion: The LEI code is the key to the future of trade

The digitalisation of global trade is at a turning point. Companies that adopt a standardised LEI code at an early stage are ideally equipped to benefit from faster, more efficient and more secure trading processes.

Whether for financial transactions, contract conclusions or international business relationships – the LEI code is becoming an indispensable tool for global company verification.

Apply for an LEI number now and actively shape the future of trade!

Are you ready to take the next step? Then find out more about applying for an LEI number now and secure your LEI number for a smooth future in international trade.

Let’s start the discussion! What do you think about the introduction of a global LEI system? Share your opinion with us!