BICS are allocated for international payment services over the SWIFT network. The pace of change is quicker now, driven in particular by the increased use of online banking, and the new Faster Payments Service. The Extended Industry Sorting Code Directory (EISCD)
The EISCD is a comprehensive database of payments-related information for financial institutions participating in the UK Payment Schemes: Bacs, CHAPS, Faster Payments and Cheque and Credit Clearing. A sort code is the name given by both the British and Irish banking industry to the bank codes which are used to route money transfers between banks within their respective countries via their respective clearance organizations.