Definition of Customer Information File (CIF)

computerized accounting system that maintains a record of a bank's customers including such information as deposit accounts owned, credit relationships, trust accounts, joint ownership of accounts, and so on. The CIF is a bank's customer control file, allowing the bank to look at its customers by total relationship, rather than single accounts (checking, savings). It is updated periodically, frequently daily, to reflect changes as new accounts are opened, checks written, and loan payments made. When used in product marketing, a CIF can help identify cross-sell opportunities at the new accounts desk, produce customer lists for direct mail marketing, and analyze the profitability of customer relationships.