Banking & Finance

Banks and MFT – a perfect complement

Why do banks and MFT (Managed File Transfer) complement each other so well? For starters, having top-notch security protection in place is a necessary standard within the banking industry. It is incumbent upon banks to prove to their customers that they can protect their clients’ sensitive data without having to worry about being compromised.

Banks and MFT

With banks and MFT, you have the necessary combination to meet the required compliance and regulatory obligations that exist in today’s market. MFT allows for extensive checks and balances at all points of the data transfer process. This takes place even if data is at rest or even in movement. These benefits make banks and MFT a compelling solution for banks to adopt across the board.

Security is the name of the game!

It’s not enough to know that with MFT, security has your back! With so much sharing of one’s important data and files within the banking industry, MFT must be a powerhouse of security. For example, if you make a credit card payment, many components are involved. For starters, the bank and the credit card company.

From A to Z of the transfer journey, data must be protected. If the customer feels that they are being compromised at any level, they will seek another alternative. With an MFT solution, thanks to a maximum assessment trail, you have full disclosure in case a data breach occurs. As authorization occurs amongst the recipient, as well as the sender, the MFT solution provides a sound process for banks to have in place.

READ MORE: Move up to the highest MFT maturity level by enabling self-service

MFT provides other features for banks

An MFT solution provides many benefits to the banks. There are numerous reasons that banks are on board, these are not limited to having an easy user experience for starters. For banks to work properly, if the control panel doesn’t work seamlessly, it’s a no-go. Also, global organizations need to be able to have tailor-made options for easy use for their customers. No two banks are alike, so having specific abilities for their customers is indeed key to their success.

READ MORE: Discover the Managed File Transfer advantages.

Banks also need to know who is utilizing and accessing their data. Compliance is a crucial step. Thanks to MFT being able to be consumed at any place and anytime, the banks are provided with a more streamlined and better overview for their customers.

Read the White Paper and discover how to modernize your MFT and empower your business