Customer Information File (CIF)

AAA

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.

INVESTOPEDIA EXPLAINS '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.

RELATED TERMS
  1. Bridge Bank

    A bank authorized to hold the assets and liabilities of another ...
  2. Lead Bank

    A bank that oversees the arrangement of a loan syndication. The ...
  3. Bank

    A financial institution licensed as a receiver of deposits. There ...
  4. Bank Guarantee

    A guarantee from a lending institution ensuring that the liabilities ...
  5. Bank Fees

    Many banks charge nominal fees for various services, such as ...
  6. Warm Calling

    The solicitation of a potential customer with whom a sales representative ...
Related Articles
  1. How To Target Ideal Customers
    Professionals

    How To Target Ideal Customers

  2. Variety A Bitter Spice For Investors
    Options & Futures

    Variety A Bitter Spice For Investors

  3. Are You A Good Client?
    Retirement

    Are You A Good Client?

  4. 10 Breakout Ideas For Small Businesses ...
    Entrepreneurship

    10 Breakout Ideas For Small Businesses ...

comments powered by Disqus
Hot Definitions
  1. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  2. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  3. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  4. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  5. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
  6. Over The Counter

    A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" ...
Trading Center