Business Identifier Code

From Open Risk Manual

Definition

Business Identifier Code. An international identifier for financial and non-financial institutions used to facilitate automated processing of information for financial services

The BIC is used for addressing messages, routing business transactions and identifying business parties. Note that the use of OrganizationPartIdentifier in FIBO corresponds to the Branch Code in the SWIFT scheme.

Synonyms

  • Swift Id

See Also

  • ISO 9362:2014 Banking -- Banking telecommunication messages -- Business identifier code (BIC)


Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.

Contributors to this article

» Wiki admin