CIF full form : Customer Information File
CIF represents Customer Information File. It is a modernized record that contains all applicable data about bank clients’ record and individual subtleties. It combines client account data, buy history, and so forth., and adds to it the essential segment data of the client to make a current depiction of a client. It is a far reaching depiction of how a client has associated with the bank previously. We can say that it furnishes the business with a synopsis of the entirety of the exercises of a specific individual. The subtleties are held in an electronic configuration. Be that as it may, a CIF can likewise be a paper record or envelope containing all the applicable archives of a client.
It is a part of coordinated financial application bundles which is for the most part used to help operational exercises inside in a bank utilizing current information, rather than depending on authentic information. To make a CIF, the bank assembles data from various channels to fabricate an increasingly brought together image of clients and their buying conduct.
CIF is additionally a piece of client relationship the board (CRM), wherein the organizations make procedures to keep up and improve their associations with their clients. Besides, it likewise helps banks for showcasing purposes, for example, to strategically pitch different items and administrations to clients and to aid other managerial capacities.
In business banking, it gives data identified with items and administrations purchased by a client, it might likewise tell about the past inquiries made by the clients so they can be given the focused on data with the end goal of up-selling.
What is CIF Number ?
Customer Information File (CIF) contains the significant financial data of a record holder in an advanced configuration. Each record is appointed a one of a kind number which relates to each bank client. In the State Bank of India, CIF is a 11-digit number which gives the bank point by point data about a client.
Is Customer ID and CIF Same?
CIF number, User ID and Customer ID in Canara bank are same.
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