Bank Code Verified

BLOPIT2273G, SWIFT Code for UBI BANCA SPA, PISTICCI

Swift Code: BLOPIT2273G

Bank: UBI BANCA SPA

Address: VIA MARIO PAGANO 25/27

City: PISTICCI

Branch: FILIALE DI PISTICCI

Postcode: 75015

Country: Italy

Anto Swift Codes

In the vast and interconnected world of international finance, communication and coordination are key. Financial institutions across the globe need a reliable system to transfer funds securely and efficiently.

This is where Swift codes come into play. Swift codes, also known as Bank Identifier Codes (BIC), are unique alphanumeric codes assigned to each bank, serving as a global standard for identifying financial institutions.

The Role of Swift Codes in International Banking

When it comes to international banking, the role of Swift codes cannot be emphasized enough. These codes play a crucial role in facilitating secure and efficient international transactions, enabling financial institutions to connect and collaborate with each other seamlessly.

1. Identification and Verification

Swift codes serve as a unique identification system for banks.

Think of them as the digital fingerprints of financial institutions. When initiating a transaction, the sender and receiver need to provide their respective Swift codes to ensure accurate and error-free routing of funds.

Swift codes help in verifying the authenticity of the bank, ensuring that the transaction reaches the intended recipient and reducing the risk of fraudulent transactions. 2.

Efficient and Secure Communication

In the era of globalization, the need for fast and secure communication between banks has become paramount. Swift codes enable banks to exchange messages securely, ensuring that vital information related to transactions, confirmations, and inquiries is relayed swiftly and accurately.

This enhances the efficiency of international banking, minimizing delays and potential errors in communication. 3.

International Fund Transfers

One of the primary functions of Swift codes is to facilitate international fund transfers. Banks rely on the Swift network to transfer money across borders.

Suppose you want to send money from your account in a local bank to a recipient in a foreign bank. In that case, the sender’s bank will use a corresponding Swift code to identify the recipient’s bank and initiate the transaction.

This process ensures that the funds are routed to the correct institution, eliminating the risk of funds being diverted to the wrong account. 4.

Interbank Communication

With numerous financial institutions operating globally, interbank communication is vital for smooth financial operations. Swift codes enable banks to communicate with each other, exchanging information about account balances, trade confirmations, and other essential transactions.

This streamlined communication allows banks to provide efficient services to their customers and maintain accurate records of international financial activities. 5.

Access to Trade and Market Information

In addition to facilitating financial transactions, Swift codes also grant banks access to trade and market information. Financial institutions rely on this data to gather insights into various markets, enabling them to make informed decisions and offer valuable services to their clients.

Swift codes ensure that banks have access to accurate and up-to-date information, fostering transparency and efficiency in the financial industry. The Swift Code: BLOPIT2273G

Now that we understand the significance of Swift codes in international banking, let’s take a closer look at the Swift code provided: BLOPIT2273G.

This code belongs to UBI Banca SPA, which is a well-known bank headquartered in Italy. 1.

Bank Information

UBI Banca SPA is a prominent Italian bank that operates across various regions in the country. With a strong presence in the Italian market, UBI Banca SPA offers a wide range of financial services to individuals, businesses, and institutions.

Their comprehensive banking solutions cater to diverse customer needs, ranging from personal banking to corporate finance. 2.

Branch Information

The given Swift code corresponds to the branch of UBI Banca SPA located in Pisticci, a charming city in Italy. This specific branch is known as the Filiale di Pisticci.

3. Address and Contact Details

The branch can be found at Via Mario Pagano 25/27 in Pisticci, with a postcode of 75015.

For any inquiries or assistance regarding financial services, customers can contact the branch directly using the contact details provided by UBI Banca SPA.

Conclusion

Swift codes have become an essential part of international banking, enabling secure and efficient communication and transactions between financial institutions. These unique codes serve as a global standard for identifying banks and play a vital role in facilitating international fund transfers, interbank communication, and access to market information.

The provided Swift code, BLOPIT2273G, belongs to UBI Banca SPA’s branch in Pisticci, Italy, showcasing how financial institutions utilize Swift codes to connect and collaborate on a global scale. Topic 3: Unveiling UBI BANCA SPA

UBI Banca SPA is a leading banking institution in Italy with a rich history and a strong presence in the country.

Established in Lombardy in 2007 through the merger of several regional banks, UBI Banca SPA has grown to become one of the largest banking groups in Italy, providing a wide range of financial services to individuals, businesses, and institutions. 1.

History and Growth

The roots of UBI Banca SPA can be traced back to the establishment of a mutual aid bank in Bergamo in 1864. Over the years, the bank expanded through a series of mergers and acquisitions, gradually increasing its reach and customer base.

In 2007, the merger of four banks – Banche Popolari Unite, Banca Lombarda, Banche Popolari Riunite, and Banca Regionale Europea – led to the formation of UBI Banca SPA. This consolidation allowed the bank to leverage its collective strengths, creating a powerful financial institution capable of providing comprehensive banking solutions.

2. Services and Offerings

UBI Banca SPA offers a wide range of financial services tailored to meet the diverse needs of its customers.

The bank caters to individuals, providing personal banking services such as deposit accounts, savings accounts, loans, mortgages, and insurance products. Its expertise in wealth management allows customers to access investment advisory services, asset management, and financial planning.

For businesses, UBI Banca SPA offers specialized services, including business accounts, financing options, cash management solutions, foreign exchange services, and trade finance. The bank also supports institutional clients, providing services such as treasury and capital markets operations, corporate banking, and public sector finance.

3. Community and Social Responsibility

UBI Banca SPA is deeply committed to corporate social responsibility, actively engaging in initiatives that contribute to the well-being of the communities it serves.

The bank promotes sustainable development and environmental protection, integrating social and environmental factors into its business decisions. UBI Banca SPA actively supports cultural and artistic events, sports activities, and educational programs, fostering social cohesion and positive change.

Additionally, UBI Banca SPA is dedicated to promoting financial inclusion, offering accessible banking services to individuals who may face barriers in accessing traditional banking services. The bank takes an inclusive approach, aiming to empower all individuals and businesses to achieve their financial goals and aspirations.

Topic 4: Common Uses of Swift Codes

Swift codes have various applications in international banking, serving as a vital tool for seamless communication and efficient fund transfers. Here are some of the common uses of Swift codes:

1.

International Wire Transfers

One of the primary uses of Swift codes is for international wire transfers. When initiating a wire transfer to a bank located in another country, both the sending and receiving banks need to provide their respective Swift codes.

These codes ensure that the funds are directed to the correct financial institution, facilitating smooth and secure international transactions. 2.

Interbank Communication

Swift codes enable banks to communicate with each other effectively, sharing crucial information related to transactions, account balances, and trade confirmations. This seamless interbank communication helps in streamlining financial operations, reducing delays, and enhancing overall efficiency.

3. Correspondent Banking

Correspondent banking involves a relationship between two banks in different countries, where one bank provides services on behalf of the other.

Swift codes play a crucial role in correspondent banking, enabling banks to identify each other and carry out transactions seamlessly. Correspondent banking simplifies cross-border transactions and facilitates access to international markets.

4. Securities Trading and Settlement

Swift codes are extensively used in securities trading and settlement.

Swift’s messaging system allows financial institutions to exchange information regarding securities trades, settlement instructions, and trade confirmations. This enables banks to ensure timely and accurate settlement of securities transactions, minimizing the risk of errors and disputes.

5. Access to Market Information

Financial institutions rely on Swift codes to access trade and market information through the Swift network.

This information helps banks gather insights into various markets, supporting informed decision-making and the provision of valuable services to clients. Swift codes facilitate access to accurate and up-to-date market data, promoting transparency and efficiency in the financial industry.

In conclusion, UBI Banca SPA is an esteemed banking institution in Italy, offering a comprehensive range of financial services to individuals, businesses, and institutions. Swift codes play a crucial role in facilitating seamless international transactions for banks like UBI Banca SPA.

These codes ensure secure communication, efficient fund transfers, and access to vital market information. By understanding the purpose and common uses of Swift codes, individuals and businesses can navigate the global financial landscape with ease, connecting with financial institutions worldwide.

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