World Trade Symposium 2016 - Connecting Markets and People

The World Trade Board findings conclude that there is significant potential to use the World Trade Symposium as a vehicle to drive adoption of Legal Entity Identifiers to improve transparency, digitisation, onboarding and risk management along the supply chain with a view to enabling more inclusive trade for global SMEs.

Many impediments to global trade and access to finance can be addressed with technology that exists today and that will come online in the future. Yet the success of these innovations and our ability to address impediments to trade through financial technology is largely predicated on our ability to easily, accurately and efficiently find, track and validate information about companies through databases containing huge volumes of information. Without an identifier for companies, this process is cumbersome, costly, unreliable and sometimes impossible.