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. Professionals

    How To Target Ideal Customers

    Expand your definition of a lucrative client and uncover a new realm of possibilities.
  2. Options & Futures

    Variety A Bitter Spice For Investors

    Faced with too many choices? Find out how to cut the confusion and create a palatable portfolio.
  3. Retirement

    Are You A Good Client?

    Investing is a team sport in which the client and financial professional must work together.
  4. Entrepreneurship

    10 Breakout Ideas For Small Businesses

    If your business has hit a wall, we've got the answer to break through and increase sales and earnings.
  5. Insurance

    Who are the best-rated auto insurance companies in the US?

    Learn which U.S. auto insurance companies have the best consumer ratings and who is eligible to purchase auto insurance from these companies.
  6. Investing News

    What PayPal’s Split From EBay Means For Customers

    EBay announced Tuesday that it will be splitting from PayPal to make the payment company its own entity.
  7. Professionals

    5 Services To Usher In New Clients

    Discover ways in which advisors are increasingly choosing to promote their businesses.
  8. Professionals

    Manage Your Clients' Expectations

    You can't control how they react to the market, but you can help them understand the reality of the situation.
  9. 10 Retailers With Incredibly Flexible Return Policies
    Personal Finance

    10 Retailers With Incredibly Flexible Return Policies

    You may not always know what to buy for some people on you gift list, but at least you can make sure the gift is easy to return.
  10. Professionals

    5 Top Ways New Advisors Can Land Clients

    Getting involved in the community and using social media are just some effective ways that advisors can meet potential clients.

You May Also Like

Hot Definitions
  1. Christmas Island Dollar

    The former currency of Christmas Island, an Australian island in the Indian Ocean that was discovered on December 25, 1643. ...
  2. Santa Claus Rally

    A surge in the price of stocks that often occurs in the week between Christmas and New Year's Day. There are numerous explanations ...
  3. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  4. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  5. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  6. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
Trading Center