Customer Information File (CIF)


DEFINITION of 'Customer Information File (CIF)'

A computerized file that stores all pertinent information about a bank customer's personal and account information. The Customer Information File (CIF) allows the bank to view its customer accounts by relationship and not strictly by account type. For example, information such as credit relationships, account ownership information, accounts owned etc are included. It is updated as often as daily in order to ensure accuracy.

BREAKING DOWN 'Customer Information File (CIF)'

The CIF records such information as a customer's vital statistics, account balances and transactions, type of accounts held and the like. The CIF is also often used to cross-sell various products and services to bank customers and assist in other administrative functions. It is a useful tool for bank employees in many respects.

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