The Wealth Management Network from Fiserv is an expansive networks of managed account data and connectivity. It brings together asset managers and sponsors to perform all necessary business functions to support the industry. The Network includes messaging services, information exchange, and managed account data services.
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IBM MQ
Score 9.0 out of 10
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IBM MQ (formerly WebSphere MQ and MQSeries) is messaging middleware.
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.
In the context of Internet of Things (IoT) applications, IBM MQ plays a pivotal role in managing the substantial data streams emanating from interconnected devices. Its primary function is to guarantee the dependable transmission and processing of data, catering to a diverse range of IoT use cases, including but not limited to smart city initiatives, healthcare monitoring systems, and industrial automation solutions. In the telecommunications sector, IBM MQ is employed for message routing, call detail record (CDR) processing, and network management to ensure real-time data exchange and fault tolerance. When managing the supply chain and logistics, IBM MQ is used to ensure timely and accurate communication between different entities, including suppliers, warehouses, and transportation providers. IBM MQ can be cost-prohibitive for smaller organizations due to licensing and maintenance costs. In such cases, open-source or lightweight messaging solutions may be more appropriate. For scenarios requiring extremely low-latency, real-time data exchange, and high throughput, other messaging technologies, like Apache Kafka, may be more suitable due to their specialized design for such use cases.
The documentation is very clear,It is understandable and the support helps to configure it in the best way.
Server guidelines make it possible to get the most out of work management. It's broad, we can work with different operating systems, I really recommend using linux.
It is highly compatible with systems, brockers, applications, and data accumulation programs, it is possible to configure everything so that after the installation of programs, they can communicate with each other and then throw data to an external program that accumulates it and represents in clear details of steps to follow and make business decisions.
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.
There is limitation on number of svrconn connections you can have to MQ on the mainframe which has been an major issue for us. This has been an issue for us for over 4 years and still no fix although I am aware IBM have been working on a solution over the last year.
When upgrading to MQ V9.3 on our MQ appliances there is no fall-back option. This was the same for MQ V9.2 upgrade from MQ V9.0. For production upgrades this I believe is not acceptable.
AMS is not supplied as part of the standard mainframe MQ licence. You need an extra licence. IBM tell customers how important security and protecting data is yet they still want to charge for this software. The cost of MQ on the mainframe is not cheap so I would expect AMS to be part of the base product.
The messages are delivered instantly with this software and it integrates with our technology stack, in terms of availability we only had one failure when we were doing some testing and integration with third parties, the features of this software make it always available and its deployment is easy for the company, it does not generate expenses due to failures
There are very specific things that must be elevated to more specialized areas of support, but the common support is very agile when receiving questions or when we leave concerns in real time. I recommend the support of the program in this regard.
We found IBM MQ very easy to get started and quick to learn by the new users with a short learning curve and seamlessly integrates with IBM products, and quick to perform self-service analytics and make informed business decisions. IBM MQ is also very straightforward in creating simple and best reports, which are very profitable and productive.
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.
