ALERT

[FREE DEMO] Deploy Your Enterprise Cloud in Minutes

Personally Identifiable Financial Information (PIFI)

Definition - What does Personally Identifiable Financial Information (PIFI) mean?

Personally identifiable financial information (PIFI) is any information that a consumer provides to a financial institution that would not be available publicly. PIFI enables the unique searching, identification and validation of a person’s financial information through a specialized database and/or system. PIFI may include information such as an individual’s name, contact details, bank account number, credit card number, Social Security number, etc.

Techopedia explains Personally Identifiable Financial Information (PIFI)

PIFI generally contains private and confidential data visible only to authorized personnel. The term is mainly applied in an operating environment where security, privacy and authenticity of financial information is the primary objective. The data stored within PIFI is used for a set of different applications and/or business services. For example, an online e-commerce site may contact a consumer's bank and use PIFI from the bank's server to identify and validate a buyer’s credit card.

Under the Gramm-Leach-Bliley Act, financial institutions must alert their customers to privacy policies and practices and avoid the disclosure of nonpublic personal information about consumers to third parties without consumers' consent. Financial institutions must also establish appropriate standards for protect PIFI.

Techopedia Deals

Connect with us

Techopedia on Linkedin
Techopedia on Linkedin
Tweat cdn.techopedia.com
"Techopedia" on Twitter


'@Techopedia'
Sign up for Techopedia's Free Newsletter!

Email Newsletter

Join thousands of others with our weekly newsletter

Resources
The 4th Era of IT Infrastructure: Superconverged Systems
The 4th Era of IT Infrastructure: Superconverged Systems:
Learn the benefits and limitations of the 3 generations of IT infrastructure – siloed, converged and hyperconverged – and discover how the 4th...
Approaches and Benefits of Network Virtualization
Approaches and Benefits of Network Virtualization:
Businesses today aspire to achieve a software-defined datacenter (SDDC) to enhance business agility and reduce operational complexity. However, the...
Free E-Book: Public Cloud Guide
Free E-Book: Public Cloud Guide:
This white paper is for leaders of Operations, Engineering, or Infrastructure teams who are creating or executing an IT roadmap.
Free Tool: Virtual Health Monitor
Free Tool: Virtual Health Monitor:
Virtual Health Monitor is a free virtualization monitoring and reporting tool for VMware, Hyper-V, RHEV, and XenServer environments.
Free 30 Day Trial – Turbonomic
Free 30 Day Trial – Turbonomic:
Turbonomic delivers an autonomic platform where virtual and cloud environments self-manage in real-time to assure application performance.