Why is the LEI Number Important for Businesses? In today’s global economy, transparency and identification are essential, especially in financial transactions. This is where the LEI number – Legal Entity Identifier – becomes invaluable. For businesses engaging in cross-border transactions, maintaining regulatory compliance, or simply aiming for enhanced credibility, understanding and obtaining an LEI number is crucial. Let’s explore what an LEI number is, its importance, and how it can benefit your business. What is an LEI Number? An LEI (Legal Entity Identifier) number is a unique 20-character alphanumeric code that serves as a global identification number for legally registered entities. It uniquely identifies businesses and other entities involved in financial transactions, allowing for quick and precise recognition. Think of it as a universal business ID that helps distinguish one company from another on a global scale. LEI numbers are