Signet Bank partners with LEIAdmin to enhance LEI management

Established in 1991, Signet Bank is one of Latvia’s pioneering financial institutions. With a strategic focus on supporting local entrepreneurs and facilitating capital management, the bank has played a significant role in fostering economic growth in the region. Since the beginning of 2021, Signet Bank has extended financing to clients through loans and bonds totaling 500 million euros.

In 2018, seeking a more efficient and cost-effective solution for managing Legal Entity Identifiers (LEIs), Signet Bank partnered with LEIAdmin. Recognizing the importance of streamlined LEI management, Signet Bank became one of LEIAdmin’s first corporate clients. This partnership has significantly enhanced the bank’s operations and compliance processes.

The collaboration with LEIAdmin has brought several benefits to Signet Bank

• Expedited service delivery: LEIAdmin’s innovative platform has sped up LEI management processes, allowing the bank to operate more efficiently.
  
• Attentive customer support: The bank has received excellent customer support from LEIAdmin, which ensures that any issues are promptly addressed.
  
• Cost savings: Signet Bank has accessed lower LEI costs across more than 300 jurisdictions, reducing administrative expenses.

This partnership has allowed Signet Bank to focus on its core activities, such as providing exceptional financial services and client support.

Reflecting on the enduring partnership, Voldemars Strupka, Deputy Head of Private Banking at Signet Bank, expressed his appreciation: “Our partnership with LEIAdmin has been ongoing for more than six years, and they have exceeded our expectations. LEIAdmin saved my colleagues and me a lot of time and effort, and I am more than happy to express my sincere gratitude to their team.”

Through its partnership with LEIAdmin, Signet Bank continues to improve its operational efficiency, ensuring it remains at the forefront of financial services in Latvia and beyond. This collaboration underscores the bank’s commitment to adopting innovative solutions that drive growth and deliver value to its clients.