business party identifier
The first element of the BIC, used to identify a business party in a country. The business party identifier consists of 8 contiguous characters. It is composed of the party prefix, the country code, and the party suffix. The business party identifier is assigned by the Registration Authority.
Related linksBusiness Identifier Code (www.swift.com)
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Swift Business Intelligence - Business Forum Frankfurt
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Market Practice Guidelines on the provision of ultimate party data elements within ISO 20022 messages to support on-behalf-of payment scenarios.
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Swift Response to CPMI-IOSCO on “Second consultative report - Harmonisation of the Unique Product Identifier”
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ISO 20022 Third party toolkit
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Managed services, or managed operations, are the practice of day-to-day technology being managed by third parties on behalf of the customer.