As banks and financial services move increasingly online, managing high volumes of customer interactions and complex data transfer becomes a major challenge. MFT addresses this by ensuring secure, automated data exchanges across platforms, improving responsiveness, ensuring regulatory compliance, and enabling seamless digital experiences at scale.
Department Use Cases:
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Scheme Administration: MFT automates the transfer of member records, contribution files, and payment schedules between payroll providers, trustees, and internal systems. This reduces manual interference, minimises errors, and ensures quick, accurate updates.
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Compliance & Governance: Regulatory submissions, audit data, and communications with oversight bodies are securely exchanged using MFT. With built-in encryption, tracking, and audit trails, providers can demonstrate full compliance with pension regulations and data protection laws.