Establishment of a 'direct data connection' by the Swiss Statistical Office and a worldwide corporate identity organization
In a significant move to boost global business transparency and facilitate international due diligence processes, the Swiss Federal Statistical Office (FSO) and the Global Legal Entity Identifier Foundation (GLEIF) have joined forces. This collaboration integrates Switzerland’s official business registry data directly into the Legal Entity Identifier (LEI) records of Swiss companies.
The integration of the FSO's UID system into the global LEI system promises several key benefits.
Enhanced Verifiability and Transparency
With the direct link to the official Swiss UID business registry embedded in each LEI record, users can now access verified registration data and official documents with a single click. This enhancement ensures higher confidence in the authenticity and accuracy of company information.
Simplified Due Diligence
For global LEI data users conducting Know Your Customer (KYC) and Know Your Supplier (KYS) checks, the direct data link reduces complexity and time by enabling streamlined access to official, authoritative entity data from a trusted national source embedded within the global LEI system.
Increased International Discoverability
By connecting Switzerland’s official centralised business identifiers to the global LEI infrastructure, Swiss companies gain improved global visibility, facilitating trusted trading relationships and easier identification by international partners and counterparties.
Contribution to the Global LEI Index’s Reliability
This initiative reinforces the LEI’s role as a global data connector by underpinning LEIs with authentic, national-level verified data, supporting regulatory reporting, compliance, and risk management worldwide.
The Global Legal Entity Identifier Foundation (GLEIF), a non-profit organization that oversees and champions the use of LEIs, is headquartered in Switzerland. The LEI, based on the ISO 17442 standard developed by the International Organisation for Standardization (ISO), is a 20-character alpha-numeric code that enables unique identification of legal entities undertaking financial transactions.
This collaboration is part of GLEIF's larger mission to leverage the LEI as a central data connector to further enhance global corporate transparency and advance the fight against economic crime. GLEIF has previously announced similar arrangements with the UK's business registry, Companies House, and the Netherlands Chamber of Commerce (KVK). The organisation is committed to enabling greater transparency and digital trust in global markets and is looking to engage further business registries around the world.
With the Bank of England mandating the use of LEIs for payments between financial institutions from 1 May 2025 in the UK, this collaboration is expected to set a precedent for increased adoption of LEIs globally, contributing to a more transparent and secure financial ecosystem.
More Efficient Financial Transactions
The integration of Swiss business registry data into the global LEI system simplifies financial transactions, as the authenticated information is easily accessible, ensuring speedy due diligence and enhanced data reliability during transactions.
Boosted Business Collaboration
With improved visibility and enhanced trust due to the collaboration between the Swiss Federal Statistical Office (FSO) and GLEIF, Swiss companies can expect to foster more secure and effective business relationships on a global scale, as they are easier to identify and vet using the LEI system.
