vLEI – Verifiable Legal Entity Identifier
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Nord vLEI offers a way of verifing digital identites and handling compliance in a more efficient way.
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A illustration that depicts GLEIF's Root of Trust

Why the Verifiable Legal Entity Identifier (vLEI)?

The vLEI offers numerous benefits for organizations, here is a selection

Trustworthy and Cost Efficient

The vLEI addresses both cost and trust issues by leveraging the established Global LEI System to establish a global digital trust framework and adhering to the Zero Trust Architecture principle of “never trust, always verify”.

Authority Delegation

The vLEI enables more efficient management and operational effectiveness within organizations by allowing flexible internal workflow management, including the assignment or transfer of authority.

Authentication

The vLEI system necessitates that each vLEI is backed by an underlying LEI thereby guaranteeing accurate authentication of the entity.
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What is the vLEI?

The vLEI, standing for “Verifiable Legal Entity Identifier,” is a digital and cryptographic evolution of the traditional entity identifier known as LEI. It enables decentralized and automated validation of organizational identities.

vLEI also allows the distribution of credentials that link individuals to formal organizational roles, allowing them to authenticate their identity in various activities from financial transactions to official communications

How the vLEI  works

The vLEI system works by providing digital credentials based on the foundational Legal Entity Identifier (LEI). These credentials are issued and managed by Qualified vLEI Issuers, or QVIs, under the supervision of the Global Legal Entity Identifier Foundation (GLEIF). The vLEI uses Distributed Ledger Technology (DLT) and other decentralized technologies to ensure the security and integrity of the credentials, allowing for reliable verification of organizational identities across different digital platforms.

GLEIF  is the "Root of Trust" in the vLEI  ecosystem


✔ QVIs are the Validators and Issuers

✔ Organizations are the vLEI holders

✔ Individuals linked to the organization's vLEI can verify their authority and association with that organization
A more detailed illustration of GLEIF's Root of Trust. It explains Nord vLEI's role in relationship to GLEIF.
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Verifiable Credential (VCs)

Verifiable Credentials (VCs) are digital certificates that securely verify the identities and roles of legal entities and their representatives. The credentials are digitally signed and tamper-resistant which provides a reliable means of automated authentication.

VCs within the vLEI system serve to establish a standardized and interoperable framework for identity verification across various industries and across borders. They are issued based on the underlying LEI (Legal Entity Identifier), which is a unique identifier already established to create transparency in the connections between financial transactions and corporations globally.

The vLEI credentials extend this concept to include not only the legal entities but also individuals acting in official capacities on behalf of these entities. This allows for a detailed and verified digital representation of both organizational and personal roles, enhancing trust in business transactions. The credentials can be managed throughout their lifecycle, including issuance, renewal, and revocation by accredited organizations known as Qualified vLEI Issuers (QVIs).

Unified Identification and Authentication

vLEI combines identification and verification for organizations and their representatives, facilitating both official and functional roles within the entity.

Roles are verified against one or more public sources or documents provided by the organization.

Authority Delegation

In business-to-business transactions, safeguarding digital identities is imperative for maintaining trust and integrity.

The vLEI enables more efficient management and operational effectiveness within organizations by allowing flexible internal workflow management, including the assignment or transfer of authority.
A illustration depicting that Nord vLEI is the first QVI in Europe.

Nord vLEI  is the first Qualified vLEI Issuer (QVI) in Europe

Nord vLEI is now accredited as an official Qualified vLEI Issuer (QVI) within the verifiable Legal Entity Identifier (vLEI) system. This allows Nord vLEI to issue verified digital credentials that authenticate the identities and roles of legal entities and their representatives. As a QVI, Nord vLEI offers complete management of your vLEI credentials' lifecycle.

vLEI  Credential Roles

vLEI OOR and ECR role-credentials are specific credentials assigned to individuals within an organization that verify their official capacity or function. These roles are a core feature of the broader vLEI framework that enables trust and authentication of legal entities and their representatives in digital interactions.
A illustration that explains the OOR-role.

Official Organizational Role (OOR)

The formally recognized positions within an organization, such as CEO, CFO, or board member are the basis for the Official Organizational Role credential. The vLEI credentials for these roles are issued based on verified organizational documents like board minutes or corporate resolutions, which affirm the individual’s official capacity within the entity.

Engagement Context Role (ECR)

These roles pertain to less formal but functionally significant positions within an organization, such as project managers or department heads. Engagement Context Roles, or ECRs, are typically defined by the organization itself and can vary widely depending on the entity’s internal structure and needs.
A illustration that explains the ECR-role.

News Room

NordLEI Launches New Verifiable Legal Entity Identifier (vLEI) Platform, Nord vLEI

NordLEI Launches New Verifiable Legal Entity Identifier (vLEI) Platform, Nord vLEI
April 23, 2024

Nord vLEI is the first Qualified vLEI Issuer (QVI) in Europe!

Nord vLEI Becomes the First European-based GLEIF Qualified vLEI Issuer
April 16, 2024
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