The BIC database contains the fundamental information required for unique business entity identification which consists of the companyâs name and the registered address. The BIC data base enhancements will enable SWIFTâs over 8,100 customers to increase their reliance on the content and participate in the update notification process for improved data quality and timeliness. Ultimately, both SWIFT users and Avox customers will benefit from an increased amount of stress-tested data.
"We chose Avox based on its collaborative business model and quality data standards which complement our co-operative nature,â said Chuck Wiley, senior product marketing manager, SWIFT. âThe financial community will benefit from Avoxâs commitment to excellence and outstanding track record.â
âWe are pleased to team up with SWIFT and to be able to further expand our data services. Working in partnership with SWIFT provides the foundation for a truly global and industry funded business entity identification hubâ, said Ken Price, CEO of Avox.