LEI Worldwide Expands to Pune: Accelerating Local LEI Adoption for Businesses

LEI Worldwide Expands to Pune: Accelerating Local LEI Adoption for Businesses

In a decisive effort to enhance the Legal Entity Identifier (LEI) landscape in India, LEI Worldwide has announced the opening of a new office in Pune. This development is in response to the increasing demand for LEI compliance, especially as the Reserve Bank of India (RBI) mandates LEIs for significant financial transactions, positioning India as a leading jurisdiction for LEI adoption globally.

Strategic Expansion in Pune

The establishment of the Pune office is a direct outcome of productive discussions held in Mumbai and Pune, where the executive team from LEI Worldwide engaged with partners, clients, and local banking institutions. These meetings highlighted the urgent need for efficient LEI management solutions within India’s evolving financial landscape.

Collaboration with OneNexus Outsourcing Partners LLP

To further strengthen its local operations, LEI Worldwide has partnered with OneNexus Outsourcing Partners LLP. This partnership is designed to enhance client support and back-office services tailored to the growing LEI management demands in the region.

  • Local Expertise: OneNexus brings extensive knowledge in client support.
  • Innovative Technology: The collaboration will leverage advanced RAMP technology to streamline LEI management processes.

Growth in LEI Adoption

India is witnessing a remarkable surge in LEI adoption, with a projected growth of 9.9% in 2024, totaling approximately 219,000 LEIs. The Pune office will play a critical role in enhancing customer engagement and reducing turnaround times for LEI issuance and management.

Leadership Insights

Darragh Hayes, the CEO of LEI Worldwide, emphasized the significance of this expansion: “By establishing a local presence, we aim to offer quicker turnaround times, improve customer engagement, and simplify the LEI management process. Our collaboration with Chetan and the OneNexus team will ensure that we deliver world-class support and infrastructure.”

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Chetan Agarwal, CEO and Founder of OneNexus, expressed his enthusiasm about the partnership, stating: “Partnering with LEI Worldwide allows us to merge our capabilities and drive meaningful change in the Indian market. I look forward to working with Darragh and his team to achieve our shared objectives.”

Alignment with Regulatory Requirements

This strategic expansion not only supports the RBI’s mandate requiring an LEI for transactions exceeding ₹50 crore but also aligns with global trends towards universal financial identifiers, similar to initiatives in the EU and UK.

For more information on LEI services and compliance, visit LEI Worldwide.

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