Industry: Commercial Real Estate
Property is their passion. One commercial real estate company has a mission to redefine their industry with long-term investments in people and technology that deliver actionable insights and create the best customer experience. They’ve also made it their mission to make sure any data they’re transferring is being transferred securely.
This corporation is an industry-leading commercial real estate company that offers a robust suite of services to its multifamily and commercial property clients. They offer services in commercial real estate investment sales, mortgage banking, and mortgage servicing. They now operate worldwide, have over 1,000 employees, and have closed billions of dollars in production volume.
How GoAnywhere MFT Helps Them Stay Consistent
A Senior Engineer provided some insight into the company’s three-year usage of GoAnywhere Managed File Transfer (MFT). Originally, when they needed to wire SFTP files to the bank, they used their own homegrown tool. Their homegrown tool was built internally and solely for the purpose of SFTP transfers to wire payments. However, because processes were taking too much time, they decided to cease the usage of their homegrown solution and look elsewhere. What they got in return was beyond their original expectations.
Prior to implementing GoAnywhere MFT, the process of keeping data consistent was a challenge. The Senior Engineer stated, “Before GoAnywhere, we used the same REST call and put data in the SQL Server, but I was having a hard time with Windows vs. AWS and Azure and getting the same data repeatedly.” With GoAnywhere, Windows can grab data easily and consistently.
Daily Deliveries
Once the Senior Engineer learned the product, which didn’t take long, they were an expert in GoAnywhere. Now, in a typical span of seven days, 12,005 jobs are run – 1,715 per day. Most of the file transfers are B2B, moving from the company to a financial institution of some sort. “We wanted something that could go to a database seamlessly. We must get files to the bank in a very timely matter. Every wire file goes to the Federal Reserve and must get a Federal Reserve number before it can be funded to the bank. That all takes time. You don’t want to be at a standstill at 5:00 pm on a Friday trying to figure out why you can’t get a wire file to a bank! They’re funding loans that are $40 million!”
Now the Senior Engineer can set up new transfers in a short span of two minutes, assuming they have all the information, and can execute transfers in 10 seconds. If it clears, transfers start and stop in about one second! “Currently, we have 63 projects running in the GoAnywhere scheduler. We started with 15 and it has grown from there.”
The Magic Behind Mortgage Rates
Aside from the daily deliveries, the company also utilizes GoAnywhere to be one step ahead of their competition by offering the best mortgage rates possible. The Senior Engineer stated, “We use MFT to get the latest mortgage rates available. They update every minute and we have several applications that use these rates. Each time you pull the rates, it costs money. Instead of having each application pull rates, we have MFT make a REST call to grab the rates and push them into a SQL Server, for all of our on-premises .NET applications to use.”
Get the Guide: PCI DSS Compliance with Managed File Transfer
All applications that need the updated rates call the SQL Server to get the rates real time. From there on, the rates are formatted into a JSON file and sent to AWS, where the rest of their cloud-based apps can use them. All applications have the same data source that is updated at the same time; therefore, they only need one outbound call to grab the rates.
All the apps in the AWS environment can also get the necessary rates at the exact same time. It doesn’t matter which application connects; it should get the same rate. It’s especially important to pull the data in real time because even a couple of points in an interest rate change can make a big difference. It’s important for them to offer the best interest rate in the steep pool of competition and avoid offering one single rate per day, like some of their competitors do. It’s also important for them to offer lower rates faster than their competitors. GoAnywhere MFT helps the company’s competitive edge thrive and delivers an advantage by allowing real-time interest rate comparison.
Going Beyond Expectations
Among transferring files securely, upgrades and updates for GoAnywhere MFT have served as an additional, yet unexpected benefit for the company. They have been easy to complete, and the Senior Engineer was able to successfully conduct their company’s annual disaster recovery (DR) test without fail. “This was something I didn’t know how to set up. I used training credits to make sure GoAnywhere could support this test.”
Their Senior Engineer has also had consistent success working with GoAnywhere’s technical staff and professional services team. “I reached out to them for DR planning. It was tailored to what we needed, which was good. They used support cases to make sure they were going in the right direction and the team was very helpful. I spoke with the same support guy for an entire month once – he was awesome. I would definitely recommend these services. The man could see where I was going, would show me better ways, and give multiple ways to do what I was trying to complete. It was all super helpful.”
Get the Guide: What's New in the PCI Data Security Standard
No Shortage of Expansion
Overall, the Senior organization is very satisfied with their experience using GoAnywhere MFT. At this commercial real estate company, MFT is utilized for an abundance of time-saving projects and has allowed important time to be directed to other areas.
Although the company is typically using GoAnywhere MFT to transfer daily B2B files to financial institutions and make magical mortgage rates come to life for their clients, their Senior spokesperson reiterated that they are always finding new ways to use the product. “In meetings when someone has an idea, or has been doing something manually repeatedly, I know that MFT can take care of it and do what’s being requested. I always say, ‘MFT can do that! They can do this!’”
Together, GoAnywhere MFT and the commercial real estate company make a great, time-efficient team!
We Solved Their Problem, Now Let's Solve Yours.
We're committed to giving you a better way to automate, secure, and streamline your business processes. Schedule a demo with one of our product specialists today to see if GoAnywhere MFT is the right fit for your organization.