What does SNIF mean in UNCLASSIFIED

SNIF stands for Summary Notification Information Format. It is an XML-based technology format which is used to provide customers with secure, real-time notifications of financial activity associated with their accounts.

SNIF provides secure electronic delivery of data across multiple channels while providing a common format which allows businesses to remain competitive in today's compliance-focused environment.

SNIF allows businesses to securely send financial transaction details such as account and routing numbers, transaction types, amounts and currency codes associated with specific transactions.

The main advantage of using SNIF is that it provides a reliable way for businesses to deliver notifications of financial activity related to their customer's accounts quickly and securely without the need for manual processing or paper documentation. Additionally, it provides customers with real-time updates and access to timely information regarding their account transactions.

There may be some cost involved in deploying or setting up the system, but this cost pales in comparison to the potential savings that could be achieved by avoiding manual processing or paper documentation requirements. Additionally, the security measures built into the system help protect against fraud and other malicious activities.