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CIF is an acronym which stands for Customer Information File which all significant and personal about the customer and its account can be accessed. It can be used by business to identify its relationship with the customer.
The CIF records such information as a customer's vital statistics, account balances and transactions, and types of accounts held. It is updated as often as daily to ensure accuracy. The CIF is also used to cross-sell various products and services to customers, and to assist in other administrative functions.
A Customer Information File is a file, either electronic or physical, that stores all pertinent information about a customer's personal and account information. It allows to Institution to vies its customer Information by Relationship
