DIPLOMAT MFT: The secure, managed file transfer tool trusted by leading financial services firms and organizations.
Secure-by-Design (SFTP, PGP, DMZ, deployment)
Best-value MFT Solution
Ideal for regulatory compliance (GLBA, SOX, DORA)
Easy-to-use, no-code installation and operation
Simple integration and compatible with existing solutions
Trusted by major Financial Services Organizations
You’ll be in good company with leading national, regional, and local banks, wealth management, insurance, and other financial services organizations who depend on Diplomat MFT for their secure managed file transfer needs.
Diplomat MFT: Managed File Transfer Solutions for Financial Services.
One recent study found that banks were 300 times more likely to be targeted by cybercrime, and that ¾ of all data breaches are due to human error. And the cost of a data breach in financial services is 40% higher than average. This underscores the important role of managed file transfer for securing sensitive file transfers and automating error-prone processes. An MFT solution can help by:
- Encrypting data both in transit and at rest
- Providing detailed audit trails for every file transfer
- Enabling secure file sharing across the entire financial supply chain
- Automating workflows to reduce human error and improve efficiency
Many financial services firms (including one of the world’s largest banks) rely on Diplomat MFT to automate the secure transfer of their files, mitigating the risk of a data breach by automating encryption management and reducing human error.
Managed File Transfer Helps Support Security, Compliance, and Resilience Goals
The cost of a data breach can be steep for financial services organizations, and human error is the top cause. File misdelivery, accidental exposure, and failure to encrypt can result in a security incident and cost millions. Regulations like DORA, GDPR, GLBA, SOX and others demand rigid security practices when handling sensitive financial data and customer records.
Don’t take chances with custom scripts and manual file transfers. Instead, rely on Diplomat MFT for secure, reliable, and automated managed file transfers.
SOLUTION STORY
To ensure the highest levels of security, JPMorgan Managed File Transfer Services employs both SFTP and OpenPGP encryption for file transfers. Find out how to achieve this with Diplomat MFT.
Avoid Data Breaches
Whether it is conforming with industry standards for secure file transfers, automating the essential process of encryption management, or supporting industry initiatives like Positive Pay, Diplomat MFT can help you save costs, improve productivity, and maintaining brand trust by avoiding the steep costs associated with falling victim to a data breach.
On average, costs associated with a data breach are $4.55 million, but financial services organizations average $6.08 million. Included in that figure are fines under various laws requiring that organizations protect private information. Depending on where your organization operates, different regulations apply, including:
- Gramm-Leach-Bliley Act (GLBA)
- Sarbanes Oxley (SOX)
- General Data Protection Regulation – (GDPR)
- Digital Operation Resilience Act – (DORA)
These laws establish strict security and data management practices to keep financial data and personally identifiable information (PII) safe.
Financial services firms trust Diplomat MFT to automate and secure their most sensitive file transfers. In more than twenty years we’ve never had a breach, and we continue to improve our product to keep ahead of threats. Banks, credit unions, wealth management firms, insurers, and others rely on our secure, managed file transfer platform to protect data at rest and in motion.
Contact us to schedule a demonstration or learn more about our award-winning, no code software platform and customer support.
DIPLOMAT MFT – LATEST ADDITIONS
version 9.2 enhancements include:
LDAPS authentication to support seamless user provisioning and authentication.
SharePoint Transport simplified transfers to and from SharePoint collaboration software (on-prem or in cloud).
Virtual File System including virtual folders and granular permissions with SFTP user groups.
Remote agent for hybrid and flexible deployments in Linux and Windows environments, including automatic streaming compression and full symbolic link support.
Browsable partner test results simplified administrator validation for configurations with sortable file size and modified date details.
Support Ticket easier log file gathering for fast, accurate error diagnostics.
If you have questions, please reach out to schedule a discussion and quick demonstration of Diplomat MFT. Or you can take Diplomat MFT for a free 15-day test drive with no obligations.
Ensuring Data Integrity in the Financial Sector
In today’s interconnected financial landscape, securing sensitive data is paramount. The below diagram showcases our software, Diplomat MFT, which is a Secure File Transfer solution, engineered to meet the stringent security and compliance demands of the banking and finance sector. We understand that your data ecosystem is complex, encompassing cloud services, legacy systems, and diverse endpoints. Diplomat MFT excels at orchestrating secure file transfers across this intricate environment.
Notice how our architecture emphasizes layered security. Data originating from various endpoints, including leading financial platforms like those depicted here, flows seamlessly through our secure DMZ. Diplomat MFT’s Edge Gateway and SFTP Server, positioned within the DMZ, act as vigilant gatekeepers. Critically, no sensitive credentials or financial data reside within the DMZ itself, mitigating the risk of a breach. Furthermore, our design eliminates the need for inbound firewall openings, bolstering your network’s defenses.
Diplomat MFT’s robust features, including multi-layer security protocols, ensure that your valuable financial information remains protected throughout its journey. Whether you’re exchanging data with cloud storage providers, internal databases, or trusted partners, Diplomat MFT provides the confidence and control you need. We empower financial institutions to streamline operations, maintain regulatory compliance, and safeguard their reputation with an uncompromising approach to secure file transfer. Choose Diplomat MFT, and experience the peace of mind that comes with best-in-class data protection.
FREQUENTLY ASKED QUESTIONS
How can MFT help my financial institution automate file transfers and improve operational efficiency?
MFT automates file-based processes, eliminating manual intervention and reducing the risk of errors. This includes scheduling transfers, automatically retrying failed transfers, and providing notifications upon successful or failed completion. This automation frees up valuable IT resources, speeds up data exchange, and reduces operational costs. For example, MFT can automate the daily transfer of transaction data to a data warehouse for analysis, or the secure exchange of payment files with partner banks.
What compliance regulations does MFT address in the financial services industry?
MFT solutions help address several key regulations:
- GLBA (Gramm-Leach-Bliley Act): MFT secure file transfer capabilities, access controls, and audit trails are crucial for protecting sensitive customer financial information.
- SOX (Sarbanes-Oxley Act): MFT comprehensive audit trails and reporting features help demonstrate compliance with SOX requirements for financial data integrity and internal controls.
- DORA (Digital Operational Resilience Act): MFT can contribute to operational resilience by ensuring the secure and reliable transfer of critical data in support of business continuity and disaster recovery plans. This includes secure and resilient communication with third parties.
How does Diplomat MFT simplify complex file transfer scenarios, especially those involving various protocols and formats?
Diplomat MFT excels at simplifying the often complex world of financial data exchange. Financial institutions frequently deal with a myriad of systems, partners, and regulatory requirements, leading to a diverse range of file transfer protocols (SFTP, FTPS, AS2, OFTP2, etc.) and data formats (XML, CSV, EDI, SWIFT, etc.). Diplomat MFT acts as a central hub, supporting a broad spectrum of these protocols and formats. Its robust data transformation capabilities go beyond simple file movement. It can automatically convert data between different formats, ensuring seamless compatibility between disparate systems. For example, Diplomat can translate data from an internal database format to the SWIFT format required by a payment network, all as part of an automated workflow. This eliminates manual intervention, reduces errors, and streamlines complex integration projects. This is crucial in the financial industry where interoperability and data integrity are paramount.
How does Diplomat MFT address the growing need for real-time data exchange in the financial services industry?
The financial world is increasingly driven by real-time data. Diplomat MFT addresses this critical need with features designed for speed and responsiveness. Its event-driven automation allows file transfers to be triggered by specific events, such as the completion of a transaction or the arrival of new market data. This eliminates the delays associated with scheduled batch transfers and enables near real-time data exchange. Combined with real-time monitoring and alerting capabilities, Diplomat MFT provides the visibility and control necessary to manage time-sensitive financial transactions, such as payments processing, high-frequency trading, or fraud detection. By facilitating rapid data exchange, Diplomat MFT empowers financial institutions to react quickly to market changes, improve customer service, and gain a competitive edge.
Our organization uses JPMorgan Managed File Transfer Services. How can Diplomat MFT integrate with this platform?
For financial institutions leveraging JPMorgan Managed File Transfer Services, Diplomat MFT offers a compelling solution for enhanced control and automation that is fully compatible with JPMorgan’s requirements. Coviant Software possesses deep expertise with JPMorgan’s platform and provides dedicated support for seamless integration. This integration allows you to automate file exchanges with JPMorgan, adhering to their specific security protocols, file naming conventions, and delivery schedules. Coviant Software’s experience ensures a smooth connection, reducing the time and resources typically required for such integrations. Furthermore, Diplomat MFT can act as a central point for managing all your file transfers, including those with JPMorgan, simplifying operations and improving visibility across your entire file transfer landscape. This can be especially beneficial for institutions looking to consolidate their file transfer infrastructure.
For more details on this, please click here to read our solution story
Our organization uses Citibank. How can Diplomat MFT help me integrate with the Citiconnect file transfer service?
For financial institutions that need to transfer files with Citibank’s Citiconnect service, Diplomat MFT offers a compelling solution for enhanced control and automation that is fully compatible with Citiconnect. Coviant Software possesses deep expertise with Citibank’s platform and provides dedicated support for seamless integration. This integration allows you to automate file exchanges with Citibank, adhering to their specific security protocols, file naming conventions, and delivery schedules. Coviant Software’s experience ensures a smooth connection, reducing the time and resources typically required for such integrations. Furthermore, Diplomat MFT can act as a central point for managing all your file transfers, including those with Citibank, simplifying operations and improving visibility across your entire file transfer landscape. This can be especially beneficial for institutions looking to consolidate their file transfer infrastructure.
For more details on this, please click here to read our solution story
Beyond the technical aspects, what support and training does Coviant Software provide for Diplomat MFT implementations?
Coviant Software recognizes that successful MFT implementation requires more than just robust technology. They offer comprehensive support and training services tailored to the needs of financial institutions. From the initial consultation and requirements gathering to ongoing maintenance and support, Coviant Software provides expert guidance. This includes dedicated project management to ensure on-time and within-budget implementations, technical training for your IT staff to effectively manage and maintain Diplomat MFT, and readily available support resources to address any questions or challenges that may arise. Coviant Software understands the complexities and regulatory landscape of the financial services industry and is committed to providing the expertise and support needed for a successful and compliant deployment. They aim to be a long-term partner in helping you optimize your file transfer processes.
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WHAT OUR CUSTOMERS SAY
G2 is the largest and most trusted software marketplace. More than 90 million people annually—including employees at all Fortune 500 companies—use G2 to make smarter software decisions based on authentic peer reviews.
Diplomat MFT has been a powerful workhorse for all of our enterprise file exchange for many years. No other enterprise application we use comes with the same level of support we receive from Coviant.
Extremely robust platform for managing our enterprise file transactions. Every upgrade provides us with additional useful tools to streamline our business processes.
I find the sftp file transfers to be the most helpful tool of Diplomat MFT. No need for programming, the interface is customized already and users only need to fill in the boxes.
The support is fantastic. I had to contact them on a few occasions – as it turns out, not for issues with Diplomat MFT but issues with one of the FTP partners. Coviant support stuck with me and went above and beyond to troubleshoot and figure out the issue.
The interface and GUI are very straightforward. The options are simple and labeled so anyone can understand how to set up and configure. The ability to test something without actually sending something is also beneficial.
I implemented Diplomat Manager File transfer as a way to enable SFTP communications with business partners. It was a year ago. I did not know anything about Diplomat MFT. However, a very knowledgeable colleague suggested I try it as a lot of his customers are using this software. I like the simplicity of setup, excellent reporting capabilities.
We love the seamless user experience, streamlining diplomatic tasks and enhancing efficiency. Diplomat Managed File Transfer is generally praised for its secure and efficient file transfer capabilities, user-friendly interface, and robust features that cater to the needs of businesses requiring reliable data exchange.
Diplomat MFT is excellent at automating SFTP and PGP and comes at a great price! Diplomat MFT is easy to learn and quite powerful in setting up automated file transfer workflows. But it is not complex at all. And the price cannot be beat! We do not have a lot of transfer jobs, but they are very important to our business and I trust Diplomat MFT to get the job done right.