In order to ensure error-free identification of parties in automated systems,SWIFT developed the Bank Identifier Code (BIC).The Bank Identifier Code is a unique address which, in telecommunication messages, identifies precisely the financial institutions involved in financial transactions.This portal is a comprehensive overview of the BIC products and their planned evolution.
Company information
SWIFT is the industry-owned co-operative supplying secure, standardised messaging services and interface software to nearly 8,100 financial institutions in 207 countries and territories. SWIFT members include banks, broker-dealers and investment managers. The broader SWIFT community also encompasses corporates as well as market infrastructures in payments, securities, treasury and trade. Over the past ten years, SWIFT message prices have been reduced over 80%, and system availability approaches 5x9 reliability — 99.999% of uptime.
In order to ensure error-free identification of parties in automated systems,SWIFT developed the Bank Identifier Code (BIC).The Bank Identifier Code is a unique address which, in telecommunication messages, identifies precisely the financial institutions involved in financial transactions.This portal is a comprehensive overview of the BIC products and their planned evolution.
