FTPS
FTPS (FTP Secure) is a secure version of FTP that adds SSL/TLS encryption for authentication and data transfer. It allows financial institutions to protect sensitive files and credentials during transmission.
FTPS is widely supported, but it can be more complex to configure than SFTP because it often requires multiple ports to be opened in firewalls.
Why It Matters
FTPS provides strong encryption while maintaining compatibility with existing FTP systems. For banks and credit unions, it is critical when exchanging ACH files, daily reports, and other sensitive data with vendors and regulators.
Common FTPS Uses
- Secure file transfers with legacy vendors and systems
- Exchanging ACH and wire transfer files
- Uploading daily batch files from core banking platforms
- Sending encrypted reports to external partners