The unwavering protection of personally identifiable information (PII) is the foundation upon which financial and banking organizations build their services and instill trust in customers. Achieving this requires credit unions and related companies to navigate a fine balance between stringent data security and business efficiency to meet customer needs and evolving compliance requirements.
Safeguarding Data Prone to Cyberattack
The ability to process hundreds or even thousands of file transfers each week is crucial to keep operations running. But these files are chock full of sensitive data which must be protected at every step using the latest security controls designed to protect files in motion or at rest.
In addition to transferring files internally, credit unions work with industry trading partners as they process loans, credit card statements, and debt assessments. Using an unsecure channel such as FTP simply doesn’t cut it with today’s aggressive threat actors, who look for poor file-sharing practices as an entry point for accessing PII that fetches big money in cybercrime circles.
Meet GoAnywhere MFT
Credit unions look to GoAnywhere MFT, a secure file transfer solution, to optimize all aspects of transferring sensitive data and achieve peace of mind. Many financial organizations use GoAnywhere to streamline and automate the daily file transfers that form the backbone of their business.
GoAnywhere Enables Credit Unions to:
- Comply with industry mandates: Credit unions are faced with numerous compliance regulations that pertain to file transfers, such as PCI DSS, GLBA, Basel III, SOX 404 and 409, the Dodd-Frank Act, and Check 21 x 937 (image files).
- Leverage existing infrastructure: From Windows and IBM i to Mac OS and Linux, GoAnywhere runs on key platforms that house the business data and run the jobs that need to be packaged and transferred.
- Protect data at every step: Using the latest encryption methods and supporting secure protocols like FTPS, SFTP, and HTTP(S), the solution safeguards information at rest and in motion.
- Free time for valuable resources: IT admins are often in short supply these days and need extra support in the form of intuitive tools and automated capabilities that make their lives easier. Manual routine file transfers are high on the list of projects that can be improved with secure MFT.
- Build a reliable audit trail: Tracking file movements with recorded logins, transfers, and errors supports an accurate audit trail and identification of potential issues.
Related reading: How Banks Are Benefitting from MFT Integration
Three GoAnywhere Credit Union Success Stories
These examples showcase the many ways GoAnywhere MFT transforms everyday file transfers with security, ease of use, and productivity in mind to ensure customer details are always protected.
1. Alliant Credit Union
This Illinois credit union once worked with multiple solutions to transfer files pertaining to loan requests, automatic payments, and more via manual methods. The team ultimately realized this approach could no longer keep pace with growing demands and PCI DSS compliance.
Introducing GoAnywhere MFT gave Alliant Credit Union the tools they needed to improve data security and reduce the team’s administrative workload in handling 500 weekly transfers. They now use secure email transfer and also leverage integration with their enterprise scheduler to automate routine activities and scale their business with confidence.
With GoAnywhere, the team can redeploy their time to other projects, knowing file transfers are 100% PCI DSS compliant and logged in an audit trail. Automating transfers, databases, and CSV files has made notable improvements in their business.
2. Tulsa Federal Credit Union
Like many financial institutions, Tulsa Federal Credit Union had daily file transfers that had to be executed to keep business on track. The problem was that a single IT administrator typically handled them. When he wasn’t available, others had to step in, causing a frustrating, reinvent-the-wheel approach.
The team realized the process was in need of an update and looked for a solution that combined automation with rigorous security for sensitive data. Selecting GoAnywhere was an easy decision, with the solution’s knack for handling the company’s specific file formatting and processing requirements.
With automatic report creation that pulls data from multiple systems, the team is thrilled with GoAnywhere’s ability to save time and accomplish many tedious tasks swiftly and securely. They’re planning to add more automation in the future.
This service organization supplies credit unions with the software applications they need to carry out their business, handling checks, drafts, and credit card maintenance files as well as ATM and debit card transactions.
CU*Answers originally selected GoAnywhere to send secure email alerts to customers containing data pulled from their IBM i platform. Over the years, they’ve expanded to secure FTP transfers of ATM debit card-related maintenance that needs to be sent to big-name vendors, such as Fifth Third and CO-OP. With encrypted login credentials for customers, CU doesn’t have to store this sensitive information, and they can process files much more economically.
The company appreciates the ease of use GoAnywhere offers when it comes to running thousands of daily batch jobs seamlessly. The team also has nothing but positive reviews about GoAnywhere’s strong customer support.
Streamlined Processes + Data Security = A Trusted Secure File Transfer Partner for Credit Unions
It’s clear credit unions can achieve new levels of efficiency, compliance, and data security with GoAnywhere MFT. Maybe it’s time for your business to look into the possibilities.