Secure File Sharing for Financial Firms and Institutions

Transfer financial data securely with file sharing for financial firms. My MX Data uses advanced encryption and thorough audit tracking to protect client records.

Whether it’s statements, audits, or regulatory reports, our system ensures authorized access only, reducing exposure to risk.

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As trusted by leading automotive brands

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Aston Martin
Jaguar Land Rover
Lotus
Polestar
British Institute of Lasers
M0VE
WIWY

How MX Stacks Up Against the Competition

Financial services face stricter compliance demands. My MX Data delivers encrypted transfers, audit trails, and strict user control so sensitive client data is always protected.

Its capability is clearest in Security & Compliance, File Control, Collaboration, and Large File Transactions.

✅Quantum-Safe Protection for Financial Data - MX applies its ASR methodology to statements, reports, and workpapers so they stay private end to end. ℹ️ What does this mean?ASR (Anonymize, Shard, Restore) divides files into anonymized shards, routes them across independent secure channels, and restores them only for authorized users, surpassing AES-256 alone.

✅Complete Audit Records - Time stamped logs show each transfer and retrieval for regulator-friendly evidence.

✅Supports HIPAA, CCPA & ISO 27001 - Couples encryption and tight access control to meet financial compliance needs.

❌WeTransfer lacks encryption at rest, increasing exposure for account data and statements.

❌Google Drive and Dropbox need added policy controls before they suit financial workflows.

Security & Compliance

✅Access Locked to Named Users – All file interactions are tied to specific, verified accounts for tighter control.

✅Selectable Data Storage Location – Store information in the region that best fits compliance rules and operational needs.

🟡Core Transfer Features – Allows uploads, downloads, and tracking without adopting a complete document management platform.

❌No Live Sync Capabilities – Designed for deliberate, secure handoffs rather than constant file updates.

File Control

✅Encrypted Financial Data Transfers – Send sensitive client statements, loan documents, or regulatory files with encryption and tracked delivery.

✅Case-Specific Messaging – Keep all client communication connected to the correct files for better audit readiness.

✅Client-Branded Portals – Provide a secure portal that reflects your company’s visual identity and builds trust.

🟡Changes Made Before Sending – Finalize documents before they are transferred through MX.

Collaboration

✅No File Size Ceiling – Send sensitive datasets, reports or compliance documents without worrying about daily caps. Google Drive restricts to 750GB/day, while WeTransfer free holds to 2GB.

✅Bank-Grade Encrypted Intake – Accept client files through secure, branded portals that meet strict financial security requirements. Consumer-grade tools often fall short here.

❌Not for Long-Term Storage – MX delivers files securely, but doesn’t act as a permanent storage vault like Dropbox or OneDrive.

Large File Transactions

How MX Helps Financial Services share Files Securely

Banks, advisers and insurers move sensitive files all day. MX encrypts every handoff end to end, binds access to named people and keeps an audit trail that regulators recognise. Straightforward to use, strict on control, built for scrutiny.

HIPAA
Patient records may not be a bank’s daily concern, but healthcare insurers and benefits providers under HIPAA still need secure file exchange. MX gives them encrypted transfers and clean logs for compliance.
CCPA
In finance, customer privacy crosses state lines, but CCPA is often the model standard. MX tracks every file movement and controls who can view it, showing regulators and clients that data is respected.
SOX
SOX requires financial firms to account for every shared record. MX does not just encrypt, it delivers full reporting that satisfies auditors looking for transparency.
GLBA
GLBA defines how financial institutions must protect customer data. MX encrypts each file, limits access and provides the audit trail needed to prove it.
FISMA
FISMA often touches contractors or partners working with federal finance data. MX secures those transfers with encryption and permissions, helping banks and consultancies stay aligned.
FERPA
Universities with finance schools or joint programmes face FERPA exposure. MX encrypts and locks student related data, so sensitive financial aid or enrolment files stay compliant.
ITAR
ITAR might not seem tied to finance, but defence contractors’ banking arms still touch it. MX ensures encrypted, geo restricted transfers so those records stay compliant.
CJIS
Financial firms linked to law enforcement investigations may face CJIS rules. MX records each handoff, locks access and builds a traceable record for review.
IRS 1075
IRS 1075 affects banks and advisers who handle taxpayer information. MX encrypts those files and ensures a visible trail, reducing risk during audits.
NIST 800-171
NIST 800-171 comes into play when finance overlaps with federal contracts. MX applies encryption and detailed logging, giving firms confidence their file sharing aligns with the standard.
Feature Description
🔒
Quantum-Safe Encryption for Exchanges
MX pairs ASR with AES-256 to protect statements, loan packs and trading files in transit. A strong baseline for GLBA, SOX and wider finance obligations.
👤
Named Recipients & Least-Privilege Roles
Bind decryption to specific people and scope what they can do. Every open or forward is tied to identity, IP and timestamp which removes ambiguity during reviews.
🛡️
Financial Compliance Alignment
Supports frameworks used across finance like SOX, GLBA, HIPAA where relevant, ITAR, ISO and many more. MX combines encryption, policy based access, retention choices and audit ready logs so stakeholders see proof fast without heavy admin.
📑
Auditor-Ready Evidence Packs
Export a clean ledger of who accessed what and when with IP, device and outcome. Hand it to audit, keep copies for internal controls and board packs.
📩
Delivery Confirmation & Read Receipts
Prove a package arrived, was opened and by whom. Helpful for regulatory responses, client disputes and legal holds.
📦
Large File Transfer for Finance Workloads
Exchange market data, risk models and media without imposed size limits. Throughput stays steady while encryption and tracking remain intact.
⏲️
Time-Boxed Access & Instant Revocation
Set expiry windows, revoke access in one click and stop stale links lingering. Circulation stays tight which lowers exposure.
🌍
Data Residency & Geo Rules
Constrain access to allowed regions using location aware checks. Useful for ITAR sensitive records and regional banking arrangements.
👁️
Organisation-Wide Activity Ledger
Track views, downloads and forwards across desks and partners with identity, IP and timestamp. Searchable history shortens investigations and routine checks.
🔑
SSO & Multi-Factor Access
Connect your identity provider then require a second factor for higher risk actions. That blend cuts account takeovers across busy teams and third parties.
🚫
No Public Sharing Links
Disable open URLs that drift beyond your perimeter. MX routes sharing through authenticated sessions and named recipients which reduces exposure risk.

FAQs

1
Technology, Functionality & Credibility
How is MX different from generic file sharing tools when used in financial services?

Sector-Specific Focus: MX is built for industries where data security and compliance are mandatory. Unlike platforms such as Google Drive or Dropbox, MX avoids casual link-based sharing and enforces named-user transfers with full traceability.

Quantum Secure Patented Methodology: The ASR (Anonymize, Shard, Restore) model breaks files into fragments, anonymizes them, and reconstructs them only at the intended destination. This protects financial organizations against both current cyber risks and future quantum computing threats.

Compliance Facilitation: MX helps financial institutions meet regulatory requirements by providing immutable audit trails and configurable access controls. It supports alignment with SOX, GLBA, and IRS 1075. While it doesn’t guarantee compliance, it provides the framework to make regulatory audits more manageable.

For practical tips, see our article on data security essentials.

Is MX trusted by organizations handling highly sensitive financial data?

Yes, Widely Adopted: MX is relied on in sectors where the financial impact of a breach is severe. With the average cost of a financial sector breach at $5.17 million in 2023 [IBM], the platform’s focus on risk reduction is critical.

Trusted by Industry Leaders: MX has been deployed across finance, healthcare, and technology. Its strict access controls and detailed audit logs ensure every client or regulatory file can be traced, giving firms proof of accountability.

Explore adoption examples in our case studies.

Can MX support large-scale, cross-border financial transactions securely?

Yes, Built for Scale: MX supports unlimited file sizes and offers full sovereignty controls, allowing enterprises to decide where data shards are stored. This ensures compliance with both US laws and international frameworks.

Audit-Ready Transfers: Every exchange is logged with who accessed what, when and from where. This level of traceability helps financial institutions meet regulatory expectations under SOX, GLBA, and other cross-border data handling rules.

Read more about global regulatory demands in our blog on data privacy regulations.

What encryption standards does MX apply to financial data?

Layered Encryption: MX uses AES-256 encryption combined with its quantum secure patented methodology. Files are never exposed in whole during transfer and are reconstructed only by the authorized recipient.

Future-Ready Protection: With less than 0.03% of platforms currently deploying quantum-resistant encryption [arXiv], MX positions financial firms ahead of emerging threats.

Extra Safeguards:

  • Named User Controls: Files are locked to specific recipients, never shared through public links.
  • Custom Expiry Dates: Transfers are time-bound, limiting exposure windows.
  • Immutable Logs: Every transaction is recorded for regulator-ready evidence.

See more in our blog on quantum-proof encryption.

2
Cost & Profitability
What are the costs of implementing MX in a financial services environment?

Scalable Pricing: MX uses subscription-based plans that adjust to user numbers, compliance requirements, and transfer volume. Financial organizations avoid paying for idle storage since MX is built around secure file exchange rather than long-term hosting.

Predictable Budgets: Pricing is transparent. Encryption, audit logs, and compliance facilitation are included, with no hidden fees that other vendors often add.

For up-to-date details, visit our Pricing page or start a free trial to see how it fits your environment.

How can MX reduce financial risks and support ROI?

Avoiding Breach Costs: In finance, the average breach costs $5.17 million [IBM]. Preventing just one incident offsets the platform many times over.

Operational Savings: Staff save time once wasted on insecure workarounds or manual encryption. Faster, safer exchanges quickly translate into measurable returns.

See how other firms improved ROI in our case studies.

Does MX reduce hidden costs associated with compliance in financial services?

Yes, Compliance Support Built-In: MX includes immutable audit logs, named-user access, and data sovereignty options. Firms reduce reliance on outside consultants or extra compliance software.

Lower Risk Exposure: By simplifying reporting, MX helps avoid fines. US regulators continue to issue multimillion-dollar penalties under SOX, GLBA, and IRS 1075 for weak data handling.

Can MX replace legacy file transfer systems and reduce IT overheads?

Consolidation of Tools: Many financial firms run multiple platforms to satisfy compliance and large-file transfer needs. MX unifies these into a single secure, auditable service, reducing license sprawl and IT workload.

Cloud-First Savings: Because MX is cloud-native, organizations avoid the costs tied to on-premises servers and complex infrastructure that come with traditional managed file transfer products.

See how MX compares in our analysis of WeTransfer vs MX.

3
Setup, Support & Integration
Is MX easy to set up without technical expertise?

Quick Deployment: MX can be rolled out in minutes without a heavy IT lift. Named-user accounts are simple to provision, and secure transfers are ready almost immediately.

User-Friendly Design: The interface is clean and intuitive, so staff working with sensitive client or regulatory data can adopt it quickly. In finance, this matters because workflows must remain secure without slowing down transactions.

For step-by-step details, see our Features page.

Does MX work with existing business workflows?

Complementary Use: MX is not designed to replace editing or document management platforms. It works alongside them by adding a secure exchange layer that satisfies regulatory requirements while teams continue using their everyday tools like Microsoft 365 or Google Workspace.

API Integration: MX metadata can be connected into internal audit, compliance, or reporting systems, giving finance teams oversight without extra manual work.

Explore integration examples in our article: Collaborate with Confidence.

What support is available if staff encounter issues?

Dedicated Support: MX offers responsive assistance tailored for high-stakes industries. Issues are resolved quickly to minimize disruption, which is especially critical in financial services where downtime can be costly.

Ongoing Training: Teams have access to documentation, tutorials, and optional live sessions. This ensures staff remain confident even as organizations expand or compliance standards evolve.

Visit our FAQ hub or connect through the Contact page for direct assistance.

Can MX be customized to reflect our brand?

Yes, White Labelling: Enterprises can customize MX with their own logo, color scheme, and domain. This ensures clients and partners see a consistent, trusted environment during file exchanges.

Trust & Professionalism: For financial institutions, a branded secure portal reassures clients that sensitive information is handled within a controlled and professional system.

See how others applied branding in our Case Studies.

Stay Updated With the Latest in the Industry​

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  • Finance File Controls
    Support secure exchange of client data with encryption, logs, and workflows that reflect FCA expectations for financial data handling.
  • Regulated Data Sharing
    Support financial workflows with traceable transfers, data encryption and retention tools that align with your internal audit requirements.
  • FCA-Ready Delivery
    Support financial workflows using tools that log file delivery, track user access, and preserve records for regulator audits.
  • Named Recipient Enforcement
    Files shared with clients or teams are bound to specific users, locking out unauthorised access and ensuring audit consistency.
  • Transfer Financial Archives
    Send audit reports, spreadsheets, or backups with no file size constraints and encryption fully active throughout the transfer.
  • Finance-Ready Speed
    Send time-sensitive reports or financial documents quickly using encryption-tuned infrastructure that matches regulatory requirements.
  • Contextual Audit Notes
    Add secure notes or communication to files sent between finance departments, allowing smoother audit reviews and handoff verification.
  • Finance-Facing Brand Control
    Keep a professional appearance when delivering financial reports or statements using fully branded file delivery portals and notifications.
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