BIC

The BIC (Bank Identifier Code) is used to identify a financial institution in any international financial transaction. Each financial institution has its own BIC.

Related definitions

STP (Straight Through Processing)

Straight-through processing (STP) is an automated transaction processing process that uses only electronic transfers, with no manual intervention, …

SaaS

SaaS stands for Software As A Service. SaaS is a cloud-based service. When a software is available in SaaS mode,

PSD2

PSD2 is a directive introduced by the European Parliament to harmonize payment regulations within the European Union.

SEPA zone

The SEPA comprises 36 member countries: the 28 countries of the European Union, the 5 European micro-states, …

Bank statement

A bank statement summarizes the activity of a bank account. It lists all the banking operations carried out on the

Authentication

Authentication is a method enabling a computer system to verify the legitimacy of an access request before authorizing it…

Need more information?

Find all our definitions in the Glossary section.

BIC

BIC