BIC stands for Bank Identifier Code. It is an international standard for identifying banks and other financial institutions around the world. BIC is also commonly referred to as a SWIFT code, which stands for Society for Worldwide Interbank Financial Telecommunication. A BIC/SWIFT code is a unique identification code for a particular bank, and it is used in international money transfers to identify the recipient bank.
XML validation helps ensure that data exchanged between different systems and applications adheres to a common set of rules and constraints, ensuring that the data can be correctly interpreted and processed by the receiving system. This helps to ensure that data is accurately transmitted and received, and reduces the risk of errors and inconsistencies in the data. By defining a common set of rules for data structure and format, XML validation helps support data interoperability and compatibility between different systems and applications.