The acronym for “Bank Identifier Code” is BIC.
A BIC identifies a bank or other institution in international financial messaging, especially for cross-border wire transfers. It is standardized under ISO 9362 and is commonly known as a SWIFT code because the Society for Worldwide Interbank Financial Telecommunication operates the registration system and network through which many such messages are sent.
A standard BIC contains either eight or eleven characters. The first four identify the institution, the next two identify the country, the following two identify the location, and an optional final three identify a branch. This structure lets financial institutions route and identify payment instructions internationally.
There is an important terminology update behind this question. Since ISO 9362 was broadened in 2009 to cover non-financial institutions, BIC is formally associated with “Business Identifier Code.” However, “Bank Identifier Code” remains the familiar expansion in banking contexts and is the wording traditionally used for codes identifying banks. BIC should also not be confused with IBAN: an IBAN identifies a customer’s bank account, while a BIC identifies the institution.