Business Identifier Code
From Open Risk Manual
Contents
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.
