INDEXO Bank joins the international SWIFT network, the bank code will be IDXOLV22
INDEXO Bank has joined SWIFT, the international network of financial messages, and the new bank's BIC (Bank Identifier Code) for transactions will be IDXOLV22. This also means that INDEXO Bank's IBANs (International Bank Account Numbers), which are the basis of all bank money transfers, will be structured as follows: LVxxIDXOxxxxxxxxxxxxx.
Joining SWIFT, the BIC code and IBAN account number are integral parts of any bank's operations and ensure payment functionality.
“Each day, the new INDEXO Bank takes more concrete form. All primary services for individuals, the bank's app, and essential banking processes have already been developed. We have also finalized the designs for key products, including the look of our bank cards. Currently, and over the coming months, we will continue to test all aspects of the bank's operations, bringing us closer to our launch this summer," says Valdis Siksnis, one of INDEXO's founders and the chairman of the new INDEXO Bank's board.
SWIFT, or the Society for Worldwide Interbank Financial Telecommunication, was established in 1973 to introduce a unified and standardized system for the exchange of banking transaction information. Today, more than 11,000 financial institutions worldwide use the SWIFT system.
About INDEXO
INDEXO is an asset management company licensed by the Bank of Latvia, which offers modern 2nd and 3rd pillar pension saving plans in Latvia. INDEXO is the fastest growing pension manager in the Baltics by number of clients with more than 133 thousand customers and more than 1.11 billion euros in management and a company listed on the Nasdaq Riga stock exchange with close to 6,000 shareholders.
INDEXO Banka, part of INDEXO Group, has obtained a license to operate the credit institution and plans to start providing financial services in the summer of this year. INDEXO is fighting for a better financial environment in Latvia, and our goal is to become a financial services group that empowers Latvia’s people to achieve prosperity by providing modern, personalized services. Additional information is available at www.indexo.lv.
Contact Information:
Ieva Bauma
INDEXO Head of Marketing and Communications
E: ieva.bauma@indexo.lv
P: +371 28 636 789
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