Swift Alliance Lite Introduction Fuels BIC and BEI Expansion

Brussels - Following its September launch of Alliance Lite, an offering aimed at enabling smaller firms to use Swift messaging for payments, interbank payment utility Swift has seen an expansion of Bank Identifier Codes (BIC) and Bank Entity Identifiers (BEIs), which will make the standards more valuable to the community, officials tell Inside Reference Data.

Alliance Lite, an easy-to install, low-cost connectivity option, means Swift is reaching a new segment of the market, small-volume financia