Which usage does the term Central Information File (CIF) refer to?

The term Central Information File (CIF) is principally recognized as a database that stores critical account-related information. This database typically contains details such as account holder names, addresses, and transaction histories, which are essential for various banking and financial operations.

Having a centralized repository of account information facilitates efficient access and management of customer data, ensuring that financial institutions can provide better services, accurately assess risk, and maintain compliance with regulations.

While the other options may involve processes or tools related to transaction management or record-keeping, they do not encapsulate the primary essence of CIF. Specifically, transaction verification and audit reports utilize the information stored within CIF but do not define its fundamental purpose.