There are some parts of banking that are considered plumbing, connecting clients to banks; as a result, they are sometimes overlooked or forgotten about. One such technology is managed file transfer (MFT). Few outside of payments know much about MFT, yet without these vital pieces of technology, neither banks or clients can function. For many clients, it is often the most frequent touchpoint with the bank, and is often their first. Getting MFT right is not just about giving a first good impression – MTF makes it easier to do business and indeed reduces the time to revenue for the bank.
The core MTF platform at Citizens Bank was approaching end of life, along with its underlying software and infrastructure. Its age was causing many challenges, not least that the platform was failing to meet the bank’s functional, business, customer, resilience, and security needs. There was also a recognition that the bank would also need to prepare for widespread ISO 20022 adoption.
The customer onboarding and file testing processes were a major pain point. They were inefficient, time-consuming, and often frustrating for both the customer and Citizens Bank. These outdated onboarding processes were reliant on excessive back-and-forth communication, creating lengthy, frustrating customer experiences.
Citizens Bank implemented a robust, next-generation, cloud-based business integration platform from SEEBURGER that was flexible, scalable, secure, and resilient as well as provided traditional secure file transfer capabilities.
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