Managing Legal Entity identifiers across several client or company accounts involves much more than just finding a code. Someone needs to check entity details, monitor renewal dates and organise applications in a way that doesn’t allow general administration to dominate the working day.
LEI Lookup addresses this issue with the help of four free management tools: a Watchlist dashboard, Lookup API, Registration API and bulk Excel upload. It’s this combination that makes it a suitable package for businesses such as fund administrators, corporate service providers and banks.
In this review, we’ll take a closer look at LEI Lookup’s features and what you need to know to see if it’s the right tool for you.
What does LEI Lookup do?
LEI Lookup provides the benefit of an LEI search service, alongside registration, renewal and monitoring tools. It allows users to search by company name or LEI code (if known), then inspect the corresponding entity record.
This is a particularly useful tool for businesses working globally, providing a starting point to check a counterparty. When there are multiple similar company names or unfamiliar jurisdictions, identification can become complicated, which is why having a standardised record can be useful in helping to establish which legal entity is involved.
The service is relevant to onboarding and compliance workflows, with LEI search forming a single part of these checks. While it can identify an entity and any recorded details, it can’t establish whether or not a proposed transaction is safe.
For organisations that manage their own LEIs or those on behalf of their clients, the platform can connect those initial services with ongoing administration needs.
Free portfolio management tools
One of the biggest benefits of LEI Lookup is its PRO solutions. These are free tools that many Registration Agents usually charge for. These tools include the Watchlist, both APIs and bulk registration and renewal functionality. This makes it a useful tool that extends beyond finding individual records, helping teams manage multiple tasks across a portfolio.
There are several benefits here for corporate service providers, including consolidating record-checking processes, organising applications and renewing upcoming renewals. As the number of managed entities grows, the more valuable the application becomes, so it’s ideal for businesses looking to scale up over time.
Monitoring renewal dates
Tracking LEIs individually can be an arduous task for businesses, especially when they are managing multiple companies, funds or clients. While renewal dates and other information can be tracked using spreadsheets and other tools, there’s still manual attention and updating required to keep on top of things. This is something to keep in mind for teams expecting these updates to be taken care of automatically.
LEI Lookup’s Watchlist tool will bring selected LEIs into a single dashboard, providing an at-a-glance view that shows statuses and renewal dates, highlighting which ones need renewing urgently. This can be extremely valuable for teams managing their workloads, enabling them to reach out to clients for updated information in time to process the renewals.
The dashboard is easy to use, so it shouldn’t take long for users to learn how to use the tool.
Search and registration within existing systems
Search and registration APIs have different functions that complement each other. The Lookup API will support checks for existing LEIs and the code’s status, becoming a useful part of onboarding.
The Registration API, meanwhile, can bring registration and renewal services into a company’s existing platform. For banks or other service providers, this makes it easy to carry out LEI administration and provide a connected customer journey.
For employees carrying out tasks like this regularly, they can benefit from integrated systems using tools they’re already familiar with, limiting the need for additional applications.
One thing to note is that there is some detailed implementation involved to ensure successful API integration, and businesses should plan for this accordingly while establishing their requirements and workloads.
Several applications without individual data entry
For businesses that don’t use APIs, there is also the option of uploading bulk Excel spreadsheets instead. This feature will support registration and renewal applications for multiple entities through an upload, instead of processing each application manually.
This can be a significant time-saver for teams, limiting repetition and managing multiple applications at once. Teams will still need accurate entity information and gain the relevant authorisation, but they can process multiple submissions at once instead of carrying out the same process over and over again.
Multiple issuer relationships
Another benefit of LEI Lookup is that it works with partner issuers to carry out different processes. While LEI Lookup itself acts as the registration agency, its partners include Ubisecure RapidLEI, Nasdaq LEI and WM Datenservice. This provides access to multiple issuers instead of just one.
For companies that work on an international portfolio, this can help identify different entity types and jurisdictions. It’s worth noting, however, that this doesn’t guarantee that every application follows the same timescale or requirements.
Pros and cons
Pros
Free management tools
The Watchlist, APIs and Excel upload functionality provide practical support beyond basic searches.
Portfolio oversight
Enjoy a shared view of selected records to make renewal planning simpler.
Different ways of working
LEI Lookup supports both spreadsheet uploads and API integrations to accommodate different needs.
Connected services
Perform search, registration, renewal and monitoring functions through a single provider.
Multiple issuer relationships
Three partner issuers help support the registration agent’s offering.
Cons
APIs require setup
Businesses will need technical resources to integrate the APIs into existing systems.
Smaller users may need fewer features
A company that only manages a single LEI may not need LEI Lookup’s extensive range of features.
Actions still require follow-up
Follow-up actions are still needed to complete the full renewals process.
In summary
LEI Lookup boasts some useful features to help those managing multiple LEIs frequently. Its free management tools can help with everyday admin challenges, making it easier to track renewals and juggle multiple applications. For businesses looking for integrated solutions, this can be a useful tool that saves time and eliminates some of the issues of manual LEI management.
