CIF FULL FORM

CIF FULL FORM

CIF full form is Customer Information File. Its a computerized file that contains all relevant information about bank customers account details. It consolidates customer account information, purchase history, etc., and adds thereto the essential demographic information of the customer to make a current snapshot of a customer. Its a comprehensive snapshot of how a customer has interacted with the bank within the past. we will say that it provides the business with a summary of all of the activities of a specific person. the small print are held in an electronic format. However, a CIF also can be a paper file or folder containing all the relevant documents of a customer.

It is a component of integrated banking application packages which is especially wont to support operational activities within during a bank using current data, rather than counting on historical data. to make a CIF, the bank gathers information from different channels to create a more centralized picture of consumers and their purchasing behaviour.

CIF is additionally a neighborhood of customer relationship management (CRM), wherein the companies make strategies to take care of and improve their relationships with their customers. CIF number used by banks for marketing purposes like to cross-sell various products and services to customers and to help in other administrative functions.

In commercial banking, it provides information associated with products and services bought by a customer, it's going to also tell about the previous queries made by the purchasers in order that they will be given the targeted information for the aim of upselling.

State Bank Of India having 11 digit CIF number.

Axis Bank having 4 digit CIF number.

HDFC Bank having 8 digit CIF number.

Different banks having different CIF number.