Business identifier code
From ACT Wiki
(BIC).
Business identifier code, also known as the BIC, was originally called the bank identifier code.
SWIFT (Society for Worldwide Interbank Financial Telecommunications) in its role of ISO registration authority, issues BICs to financial and non-financial institutions connected to the SWIFT network.
The BIC is used in financial transactions, client and counterparty data bases, compliance documents and many others.
