This article summarises and outlines how NACE and NIC codes map to WF Industry Sector Codes
Industry sector codes are used by the platform to classify business entities by the type of industry in which they are engaged.
As Wiserfunding models are segmented by country and industry, entering the industry code in your MDI input sheet will help ensure a specific industry model is used to provide your risk intelligence.
What are NACE and NIC codes?
- NACE is a classification providing the framework used to organise businesses into different categories based on their economic activities. It is the European implementation of the UN classification ISIC.
- The NIC code is a numerical code assigned to different economic activities and sectors in India. It is developed and maintained by the Central Statistical Organisation (CSO), Ministry of Statistics and Programme Implementation, Government of India.
Both of these codes were developed to be more compatible with the international system of classification - this helps with collecting and presenting large ranges of statistical data according to economic activity in the fields of economic statistics and in other statistical domains.
The WF platform leverages Industry codes and uses them together with standardised systems like NACE and NIC for better understanding and analysis.
To understand how these various industry standard definitions map to each other, please follow the link below:
This PDF lists how NACE and NIC codes map to our Industry Sectors.
If you have any further questions or face any issues, please contact our support team.