IBS Journal November 2015


Fully searchable Global LEI Index published online


The Global Legal Entity Identifier Foundation (GLEIF) has announced the launch of a Global LEI Index. The Index will provide information on


nearly 400,000 Legal Entity Identifiers (LEI), the unique IDs assigned to corporate enti- ties. Interested parties will be able to easily access and search the complete LEI data- base free of charge. Users will be able to search, compare and


download files on companies that provide a multitude of financial services, hopes the GLEIF. The body also plans to enable the anal-


ysis of underlying and external exposures by showing which firms interacting with which mutual funds or vendor products. With fast access to information like


business cards and contacts, GLEIF says, the onboarding of new clients will be fast and simple.


The GLEIF is also introducing a web-


based LEI search tool that will enable users to search the index from their browser. Designed to operate similar to a search engine, results are presented in a number of formats for further processing, including Excel, CSV and XML. As well as displaying results the tool


will feature pre-defined quotes, compara- bles and the storing of search criteria for future reference. GLEIF CEO Stephan Wolf says that


‘many regulators around the world’ have emphasised the need to for an index and making the information available for the ‘public good’. Both the Global LEI Index and the LEI


search tool have been released on the foun- dation’s website.


Alex Hamilton Stephan Wolf, GLEIF


Ripple partners with D+H and CGI; secures $4m investment from Santander


Ripple, the US developer of the sec- ond-largest cryptocurrency in use after bitcoin, has signed partnership agreements with North American technology heavy- weights, CGI and DH Corporation (D+H). It has also has raised $32 million in its


recent Series A funding round including a $4 million investment from Santander’s fin- tech venture capital fund, InnoVentures. Ripple’s CEO and co-founder Chris Lars-


en says that InnoVentures is a ‘natural fit’ as it has ‘demonstrated support for real-time international payments’.


Tie-up with CGI The agreement with CGI will see Ripple’s distributed financial technology capa- bilities brought into CGI’s portfolio of payments solutions. CGI’s offering in this sector includes payments hubs, financial messaging, liquidity management and watch list filtering. Larsen says that ‘together, we will pro- vide banks with new infrastructure to set-


tle cross-border and domestic transactions instantly, with complete end-to-end visi- bility and certainty, and at the lowest total cost possible’.


Larsen hails distributed financial tech-


nology as ‘the next chapter in banking’, which he hopes will give way ‘to an Inter- net of Value in which value will move like information moves on the web today’.


Working with D+H D+H will integrate its Global Payplus offering (which stems from the acquired vendor Fundtech) with Ripple’s distributed ledger technology. Customers using Global Payplus will


be able to link their systems to a secure dis- tributed ledger network accessible only by permission. The link, says D+H, will allow users to connect interbank networks, move money both domestically and cross-border, and access cheaper liquidity. Gene Neyer, head of product man-


agement at D+H, reckons that distributed © IBS Intelligence 2015


ledger technology has ‘the potential to rad- ically transform the payment process.’ The technology, he adds, has the abili-


ty to remove frictional costs and reduce the complexity of using multiple intermediar- ies. The investment by D+H, he continues, is a mark of the company’s ‘commitment to innovation.’


Fundtech becomes Global Transaction Banking Solutions D+H has also completed a rebranding for one of its flagship services. Fundtech, which the company acquired from Chicago-based private equity firm GTCR for $1.25 billion, is being renamed Global Transaction Banking Solutions (GTBS). The new business will be led by


Edward Ho, who was previously presi- dent and COO of Fundtech. The rebrand- ing, which has been underway since D+H acquired Fundtech, aims to create a single unified experience for D+H customers. Alex Hamilton


www.ibsintelligence.com 13


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