Avox, the counterparty data verification network, was chosen by SWIFT, the global financial cooperative, for the cleansing and maintenance of data records in its BIC (Bank Identification Code) database.
Under the 3-year agreement, Avox will be instrumental in empowering SWIFT’s business entity reference data quality and universal identification for the benefit of the financial community.
The BIC database contains the fundamental information required for unique business entity identification which consists of the company’s name and the registered address.
“We 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 hub,” says Ken Price, CEO of Avox.