BIC

The BIC (Bank Identifier Code) is used to identify a financial institution in any international financial transaction. Each financial institution has its own BIC.

Related definitions

SCI

SCI stands for SEPA Creditor Identifier. All creditors wishing to issue SEPA direct debits must have an SCI enabling them

API (Application Programming Interface)

An API is a programming interface that enables different applications to communicate with each other and exchange data.

PSD2

PSD2 is a directive introduced by the European Parliament to harmonize payment regulations within the European Union.

SaaS

SaaS stands for Software As A Service. SaaS is a cloud-based service. When a software is available in SaaS mode,

Value date

The value date corresponds to the date on which a given bank transaction, whether debit or credit, is booked…

ECB

The European Central Bank (ECB) is the European Union’s main monetary institution.

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