Definition: A globally standardized code used to uniquely identify financial institutions in SWIFT and other payment messages, ensuring accurate routing of wire and cross-border payments.
Example: Buy-side funds typically use BIC numbers to identify the prime broker, custodian, or fund admin involved in trading and settlement.
Explore IVP Cash Management
The IVP Cash Management Solution supports BIC numbers. This buy-side platform centralizes and automates cash settlements, balance monitoring, and payment workflows across banks, funds, and counterparties. By replacing manual processes with configurable, straight-through automation, it gives firms real-time visibility, stronger controls, and greater confidence in every cash movement.
