Published:
May 14, 2024
May 17, 2024
Event:
May 14, 2024
May 14, 2024
Webinars

Webinar Replay: Spotlight on LEI: The future of cross-border payments and the power of global digital identifiers

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14 May | 2.30 p.m. BST

The Financial Stability Board, at the request of the G20, has outlined a roadmap for cross-border payments that aims to simplify and streamline current data processes. This includes advocating for the use of standardised message formats, data exchange protocols, as well as easier methods for converting and mapping data in legacy systems.

The plan also includes addressing data management concerns and improving compliance processes by considering the implementation of a global digital unique identifier. This identifier would link to account information in payment transactions and could potentially enhance the use of existing identifiers like the Legal Entity Identifier (LEI).

By implementing these measures, market participants can expect more efficient straight through processing, lower costs and faster transactions. Additionally, the use of a global digital identifier could help meet important KYC standards, address data handling issues, and improve overall compliance processes.

Join us for our upcoming webinar on 14th May to discuss:

  • whether the LEI could be the solution for more transparent, efficient, and secure cross-border payments
  • the potential benefits of implementing the LEI in payment systems
  • the potential challenges or barriers to wider adoption.

Panel: Michael Knorr, Co-Chair, Payment Market Practice Group (PMPG), Bill Mendenhall, Chief Advisory Officer, BankCheck

Be a part of the conversation and explore the future of cross-border payments with us.

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