Global vLEI Pilot With EBA Concludes Successfully

Pilot with European Banking Authority tests vLEI technology for secure digital identity management in regulatory reporting scenarios

STOCKHOLM, SWEDEN, June 5, 2025 /EINPresswire.com/ -- Global vLEI has successfully completed a pilot program with the European Banking Authority, demonstrating the viability of the vLEI as a secure digital corporate identity and paving the way for broader market adoption.

The pilot involved leading European banks in a simulated banking environment, where the verifiable Legal Entity Identifier (vLEI) technology successfully met stringent industry and regulatory security standards.

Enhancing digital identity management
The vLEI is an advanced digital credential built upon the existing Legal Entity Identifier (LEI) framework. Utilizing cryptography and decentralized verification, vLEI securely binds legal entities to their authorized representatives, significantly reducing reliance on centralized databases.

The technology integrates established protocols such as Key Event Receipt Infrastructure (KERI), Authentic Chained Data Container (ACDC), and composable Event Streaming Representation (CESR), enabling secure and tamper-proof digital signatures. Anchored by the Global Legal Entity Identifier foundation (GLEIF), vLEI ensures interoperability, compliance, and real-time identity verification.

Improving efficiency and security in regulatory reporting
In collaboration with the EBA, the pilot tested regulatory reporting scenarios where participating banks authenticated digital identities and electronically signed Pillar 3 regulatory reports using vLEI credentials. Reports were submitted through a dedicated data portal, confirming the integrity and efficiency of the vLEI technology.

The vLEI credentials allowed verification that the signatory was authorized at the exact time of signing, providing an audit trail that ensures the correct individual signed the appropriate document at the right moment.

Participants noted opportunities for further automation, system integration, and improved efficiency in cross-border transactions.

Preparing for wider adoption
Feedback from pilot participants highlighted vLEI’s effectiveness in enhancing security, streamlining compliance processes, and reducing fraud risk. These insights position vLEI as a practical digital identity solution for financial services and beyond.

About Global vLEI
Global vLEI is a GLEIF-accredited Qualified vLEI Issuer (QVI) that provides secure digital identity credentials based on the LEI framework. As one of the first operational vLEI issuers, it supports early-stage adoption of verifiable credentials across sectors, including finance, government, and industry. Global vLEI aims to enhance digital identity assurance, reduce fraud risk, and enable future compliance in trusted digital interactions.

For further information, please contact:
Program Manager, Global vLEI: Maria Karjalainen

Press Contact:
Christian Lindberg
christian.lindberg@globalvlei.com

Relevant link
https://globalvlei.com

Glossary of terms

Legal Entity Identifier (LEI)
The Legal Entity Identifier (LEI) is a 20-character alphanumeric code based on the ISO 17442 standard from the International Organization for standardization (ISO). It enables the unique identification of legal entities involved in financial transactions. Each LEI includes reference data and ownership information, identifying both the entity and its parent relationships. It combines a global identifier with verified data and high data quality standards.

Verifiable LEI (vLEI)
The verifiable Legal Entity Identifier (vLEI) is the cryptographically secure digital version of the standard 20-character LEI. It enables automatic verification without manual intervention. The vLEI provides government bodies, companies, and other legal entities with non-repudiable, tamper-proof identity data. This data includes legal status, ownership structure, authorized representatives, and organizational roles such as CEO.

Entities can use the vLEI in digital interactions, transactions, and electronic signature processes. It supports secure role-based identification, ensuring that only authorized individuals act on behalf of the entity. The vLEI enhances trust, efficiency, and compliance in digital identity management across systems and jurisdictions.

Global vLEI
Global vLEI is a GLEIF-accredited Qualified vLEI Issuer (QVI) specializing in the issuance of verifiable Legal Entity Identifiers (vLEIs). It became the first European QVI in March 2024. Prior to its spin-off, Global vLEI operated as “Nord vLEI,” a division of NordLEI. Global vLEI enables secure, automated digital identification of legal entities and their authorized representatives for use in digital transactions, regulatory reporting, and electronic signatures via vLEI.

It was the sole vLEI provider in the European Banking Authority’s (EBA) 2024–2025 pilot, issuing vLEIs to participating banks and their designated ECR roles as data submitters.

Global vLEI is a sister company to NordLEI, which has issued over 175,000 LEIs since 2014 and is the leading LEI issuer in Scandinavia. Together, the companies support both conventional LEI and vLEI across jurisdictions and sectors. They are the only group worldwide combining LEI and vLEI issuance as an LOU and QVI respectively.

vLEI Governance Framework
The verifiable Legal Entity Identifier (vLEI) Governance Framework defines how digital legal entity credentials are issued, managed, and trusted globally. Built on the Trust over IP Governance Metamodel, it outlines the operational model of the vLEI ecosystem and establishes the rules by which different types of vLEI issuers are qualified and governed within the Global LEI System.

The Framework also details key ecosystem components such as the vLEI Qualification Program, mechanisms for key and credential lifecycle management, and structured channels for coordination and information exchange between the governing body and its issuer network.

The Global Legal Entity Identifier Foundation (GLEIF), based in Basel, Switzerland, oversees this ecosystem. Established by the Financial Stability Board in 2014, GLEIF operates as a not-for-profit entity under the supervision of the Regulatory Oversight Committee and maintains an open data policy for the global LEI system.

Christian Lindberg
Global vLEI
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