GLIIs and Client Lifecycle Management in Banking - a U.S.$4 Billion Beginning
Research conducted by McKinsey on behalf of GLII has concluded that broader adoption of Legal Entity Identifiers (GLIIs) could save the global banking sector U.S.$2-4 billion annually in client onboarding costs alone. This represents a saving of between 5 percent and 10 percent of the industry's U.S.$40bn annual overall spend on the practice.