What constitutes a good LEI provider?

It is not enough that an LEI code provider can register and renew an LEI code. Anyone can do that. A good LEI provider should be a trusted part of your team and make a positive contribution to your business. We will tell you how in this article.

We are part of your team

As a business owner, you are juggling a lot of balls all the time. You don't just work from 9 a.m. to 5 p.m.: you work in the evenings, and during weekends and holidays. We know because we are business owners ourselves in Global FinReg.

For us, the most important prerequisite for success is having the right team: skilled and dedicated employees who excel in their fields, work independently, and flag it if they have questions.

As an LEI code provider, we want to be part of your team. When you entrust your LEI code to us, you know that we ensure the following: 1) your LEI code is always valid, and 2) you comply with all regulatory demands. Additionally, we ensure that your company data is continuously updated, so you don’t have to spend time on it yourself. As our customer, you save both time and trouble. We believe this is what a good team should do for you.

Good customer service is direct contact

If you ever have questions or need help, you can call us and get help right away. It may sound basic, but we know from our customers that this is far from the case with other LEI providers.

People hold onto the phone for a long time to speak with someone only to be met by an answering machine. Others get rerouted to a call center abroad and find that the customer service reps don’t have the product knowledge to help them. Some give up and send an email instead and never hear back.

Bottom line: you should be able to get in touch with your LEI provider. If you can’t, you should choose a different provider and ***move your LEI code***.

Differing customer needs

We work with both small and large companies. We offer the same quality customer service, regardless of whether you have one or hundreds of LEI codes. As an international company with LEI codes across multiple geographies and jurisdictions, it can be a major advantage to collect all your LEI codes with the same LEI provider. It can be difficult to keep track of LEI code renewals if you have eight different providers worldwide.

Most companies know that data quality is essential. But they don't know that their LEI provider is not necessarily qualified to set up a fund structure correctly. For example, has the provider entered your fund's management unit, your master-feeder, and umbrella structure? If not, you may unwittingly be breaking the law.

As a large international company, it is also a good idea to choose an LEI provider that is open to specific wishes and requests from its customers. Are you missing a function on the LEI platform that may make life easier for your employees? We have partners that ask us to make little changes, and because we continuously invest in our technical infrastructure, we can usually accommodate their requests.

You can read more in this article, ‘Expect more from your LEI provider.’

Taking care of you and your LEI codes

Whether you have a single LEI code or manage hundreds of LEI codes, our platform is tailored to serve you in a simple, fast and reliable way. We have automated our procedures and streamlined our time management. This allows us to be available to you and take action when necessary. We believe that this makes for a healthy and fruitful relationship with our customers.

Please contact us with any questions, or if you need help with registering, renewing or moving your LEI code.