Automate Positive Pay
File Exchanges with Banks

Check Payment

moneyEvery time you write a check or authorize an incoming ACH transaction, you are providing other entities with your banking account information. Mailing paper checks makes that information available to any mail thief in the world (of which there are too many!).  This makes fraudulent transfers far too easy.  Even if your bank helps you reverse those charges, you undergo the headache and wasted time — and often are short on working capital for your business.

Positive Pay is an automated cash-management service employed to mitigate the risk of check fraud.  It helps a company that issues checks to ensure that no fraudulent checks are presented to the issuer’s bank, thus avoiding financial loss and headaches associated with this all-too-common fraudulent activity.

Many financial institutions offer Positive Pay services to combat fraud, including JPMorgan Chase, Bank of America, Wells Fargo, Citi Bank, and more.  Chances are that your financial institution offers Positive Pay services to protect your checks from fraudulent use.

Though banks offer online portals to manually enter Positive Pay records, most also offer direct transmission through SFTP and PGP for data protection. Securely Uploading Positive Pay files to banks is a process that is easily and securely automated by Diplomat MFT, freeing up company time for more important activities.

No matter what AP system you use — Quickbooks, Epicor, JD Edwards, PeopleSoft, Sage, Freshbooks, Xero, etc. — automating the delivery of check issue and exception report files with banks can save time and money, while reducing human errors or omissions.  With our managed file transfer software, Diplomat MFT, you can quickly set up automated, secure file transfers to any financial institution and rest easy that the files will be sent, protecting your company from financial loss due to check fraud. With full auditing, data archiving, and delivery notifications over email, Slack, or Microsoft Teams, you will always stay informed and secure.

There is no need to waste any employee’s precious time with manual transfers, nor run the risk of human error for those transfers.  For a fraction of the cost of developing and maintaining your own scripts to handle the automation of Positive Pay files to banks, Diplomat MFT offers a fully supported, complete solution at the best value.

  • Secure the Positive Pay file delivery to Banks. 
    Diplomat MFT automatically sends files securely with the SFTP, SSH Client Key Authentication, and OpenPGP encryption.  With the industry’s strongest cryptography, you can rely upon Diplomat MFT to protect the sensitive files that are sent when sending files to banks using SFTP.
  • Automate the file delivery process.
    Use Diplomat MFT’s robust scheduler, you can easily configure when to send your files using SFTP, SSH Client Key Authentication, and OpenPGP to Banks.  Whether it is a once-a-day transfer, or periodically throughout the day, or even on-demand file transfers, the Diplomat MFT scheduler supports your needs.  Diplomat supports calendar exclusions so files are not transferred on bank holidays.
  • Visibility into Workflows
    Diplomat MFT provides visibility into your workflows so you never have to wonder if files were delivered. With full audit trails, file archiving, and notifications over email, Slack, or Teams, Diplomat MFT has you covered when transferring files to Banks  using SFTP, SSH Client Key Authentication, and OpenPGP encryption.
  • World class support.
    With the highest customer support ratings in the industry, Coviant Software has you covered.  If you run into problems with connectivity to Banks or need help with your complex workflows, our friendly and knowledgeable support staff are ready to help.

Diplomat MFT is the perfect tool to automate and secure your Positive Pay and Exception Report file transfers with Banks.  Mitigate the risk of check fraud and increase your operational efficiencies while maintaining the highest levels of security and compliance.

What is Positive Pay and the benefits of it?

Positive Pay is a fraud prevention service offered by banks to their business customers. It works by matching the account number, check number, and dollar amount of each check presented for payment against a list of checks previously authorized and issued by the company. If any discrepancies are found, such as a check with a different amount or a check that was not issued by the company, the bank will notify the company before the payment is processed, allowing the company to investigate and potentially prevent fraud.

The benefits of Positive Pay include reduced risk of fraud, improved cash management, and increased accuracy and efficiency in the payment process. By using Positive Pay, businesses can prevent unauthorized checks from being paid, which can save them from significant financial losses. Additionally, Positive Pay can help businesses better manage their cash flow by ensuring that only authorized checks are paid, which can improve their overall financial stability. Finally, Positive Pay can improve the accuracy and efficiency of the payment process by automating the matching of checks against the authorized list, which can reduce errors and save time.

How does Diplomat MFT integrate with accounting software?

Diplomat MFT (Managed File Transfer) can integrate with accounting software through a variety of methods. One common way to integrate with accounting software is through the use of file-based integration. In this method, Diplomat MFT can automatically transfer files between the accounting software and other systems, such as a bank’s Positive Pay system.

For example, Diplomat MFT can automatically transfer Positive Pay files generated by your accounting software (like Quickbooks, Microsoft D365, SAP, Freshbooks, Xero, JD Edwards, and more) based on the checks that are issued. These files are automatically and securely transferred to the bank for validation and processing, and Diplomat MFT can automate the download of response files generated by the bank when they are done processing.  This workflow can help to prevent check fraud and improve the overall efficiency of the payment process.