The vLEI (Verifiable Legal Entity Identifier) credentials are an advanced component of the broader LEI system, designed to provide a verifiable digital identity for organizations in the digital realm. Managed by the Global Legal Entity Identifier Foundation (GLEIF), the vLEI system extends its scope beyond merely identifying organizations, linking individuals to organizations through specific credentials. The vLEI Credentials have been created in accordance with ISO 5009. Their aim is to tie together organizations with physical persons and their organizational roles or engagements.
The two primary credentials within the vLEI system are:
Official Organization Role (OOR) vLEI Credentials
This credential serves to electronically link individuals to organizations based on official capacities, such as CEOs, Directors, or other authoritative roles. It provides a verifiable digital attestation of an individual’s association with an organization, ensuring that when an individual represents or makes decisions on behalf of an organization, their authority can be electronically verified.
OOR Credentials will be made available on gleif.org and can be found with the permission of the respective OOR Credential holder.
Engagement Context Role (ECR) vLEI Credentials
Unlike the OOR, which focuses on official roles, the ECR offers a more flexible approach, allowing organizations to define custom roles based on specific contexts or engagements. This can include roles like “Customer of,” “Supplier to,” or “Partner with,” providing clarity in diverse business scenarios.
The vLEI credentials play a pivotal role in enhancing security in digital interactions, reducing the risk of fraud, and streamlining various business processes by offering a clear, verifiable link between individuals and organizations.