Banking codes are standardized numerical or alphanumeric sequences used to identify financial institutions and facilitate transactions. Common examples include the SWIFT code, which helps in international money transfers, and the IBAN, which is used for identifying bank accounts across countries. These codes ensure that funds are directed to the correct bank and account, reducing errors in financial transactions. In addition to SWIFT and IBAN, other banking codes like the ABA routing number in the United States are essential for domestic transactions. These codes enhance the efficiency and security of banking operations, making it easier for customers and banks to manage their financial activities.