White Paper: A New Model for Relationship Banking
Banks responded to this increased competition with a frenzied period of consolidation and super-mergers, which resulted in consolidated functions, lower operational costs and increased profits.
But even in this era of merger-mania, banks did not entirely forget about their customers. As early as 1980, banks sought to capitalize on the newest of technologies, the CIF (Central Information File) databases that allowed for an enterprise-wide view of customer relationships. Thus the concept of relationship banking was born.