The Register is an easy-to-use, cloud-based, platform that links beneficial ownership information from multiple sources and makes it available for free to all, allowing for powerful global searches with just a couple of clicks. Data on the platform comes from regulatory sources such as national companies registers and the Extractive Industries Transparency Initiative. It is also self-submitted by companies through our sleek, intuitive reporting interface. Information from more than 5 million companies is already available through the online portal.
The Beneficial Ownership Data Standard (the Standard, or BODS) is being developed in collaboration with dozens of international experts in company data and in technical standard-setting. It will enable the resulting beneficial ownership data to be interoperable, more easily reused, and higher quality. We are engaging with public and private sector publishers of beneficial ownership data to encourage uptake of the Standard.
Our pilot program supports data publishers in national governments and multinational institutions to publish high quality, highly usable beneficial ownership data. The ultimate outcome is a beneficial ownership data infrastructure that is fit for purpose, complies with our data Standard and is integrated with the OpenOwnership Register.
Whether this occurs within the pilot program or on a bespoke basis, we are committed to providing technical assistance to beneficial ownership data publishers in both the public and private sectors. Through our helpdesk we can answer questions about technical implementation and provide a hub for sharing best practice and learnings from different implementations.
We are encouraging corporations and financial institutions to use the OpenOwnership Register (and eventually our API) as part of their due diligence processes and to submit their ownership data to the Register. We are currently seeking early adopters to work with so that we can build a strong use case to build momentum.
We will continue to champion beneficial ownership transparency amongst all our key stakeholder groups. To do this, we regularly hold workshops and events to engage users and gather feedback, and we collate and share case studies of real world use cases and briefing papers through our resources page.