Fiserv Wealth Management Network vs. Magic xpi Integration Platform

Fiserv Wealth Management Network is well suited in scenarios where an organization has multiple financial services providers and would like the benefit of tying that all together and managing it from a single, unified solution. The benefit there is increased efficiency and productivity, especially when compared to the manual alternative of having managers log in to separate sponsor platforms.

Incentivized

In our experience, the product performs really well when interfacing systems with ERP's through SQL server database tables, but we've even made some interfaces with the web service functionality included with the magic xpi integration platform. Also, we've made some SAP Business One - SAP Business One interfaces, for copying information from one company to another.

Incentivized

• R&D is fantastic as they have the resources
• Online resources to help figure things out
• Easy to navigate

Incentivized

• The UI is really simple to use, you have source / destination mapping for the items.
• The scheduler gives you a lot of options when executing the models.
• The error handling is usually pretty good and the errors can be corrected fast.

Incentivized

• Cost ... it's definitely not the cheapest option out there. the way pricing is itemized and a separate upcharge for each add-on gets annoying. They can probably bundle things a little better and offer a discount on the bundled products
• the volume of system updates and changes is nauseating at times and we have to prepare and test accordingly every time there is a scheduled update. that takes up a lot of resources; quarterly updates to products would be much easier.
• more responsive support and ideally more stable support engineers ... it seems like turnover is high in their support roles and that impacts customer success and MTTR.

Incentivized

• Although the scenarios may be online, the main service usually freezes and the processes can't transact any data. With a single restart of the service, the processes will be functioning again.
• The support for more applications would be nice, even though there is a nice number of them.
• The licensing for the software may be a little confusing.

Incentivized

Far superior in my opinion. More features, easier to navigate and superior customer service

Incentivized

Honestly, we have only used and evaluated magic xpi platform because of the recommendation of our SAP Business One main supplier, who has previously used the platform for their developments. So far, we have no regrets with the acquisition of the platform and we are very happy with it's performance until now.

Incentivized

• Speed of service is greatly improved across partners. I believe our MTTR for service requests has improved by 30-40%
• Standardized platform for our staff which translates to better retention and a lower training effort.
• Cost is the negative impact ... it goes without saying that using Fiserv is much more expensive to the manual alternative which is very human resource intensive but low cost. But that's to be expected ...we're just trading time for money.

Incentivized

• The implementation time for this kind of projects has been greatly reduced.
• Certifying an In-House resource in the Magix xpi platform is probably the best option, considering all of the projects that can be developed in the future without the need of an external consultant.
• The processes that have been automatized with the Magic xpi platform helped reduced human error and the time those processes took to finish.

Incentivized