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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RabbitMQ
Score 9.1 out of 10
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RabbitMQ, an open source message broker, is part of Pivotal Software, a VMware company acquired in 2019, and supports message queue, multiple messaging protocols, and more.
RabbitMQ is available open source, however VMware also offers a range of commercial services for RabbitMQ; these are available as part of the Pivotal App Suite.
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.
It is highly recommended that if you have microservices architecture and if you want to solve 2 phase commit issue, you should use RabbitMQ for communication between microservices. It is a quick and reliable mode of communication between microservices. It is also helpful if you want to implement a job and worker mechanism. You can push the jobs into RabbitMQ and that will be sent to the consumer. It is highly reliable so you won't miss any jobs and you can also implement a retry of jobs with the dead letter queue feature. It will be also helpful in time-consuming API. You can put time-consuming items into a queue so they will be processed later and your API will be quick.
What RabbitMQ does well is what it's advertised to do. It is good at providing lots of high volume, high availability queue. We've seen it handle upwards of 10 million messages in its queues, spread out over 200 queues before its publish/consume rates dipped. So yeah, it can definitely handle a lot of messages and a lot of queues. Depending on the size of the machine RabbitMQ is running on, I'm sure it can handle more.
Decent number of plugins! Want a plugin that gives you an interface to view all the queues and see their publish/consume rates? Yes, there's one for that. Want a plugin to "shovel" messages from one queue to another in an emergency? Check. Want a plugin that does extra logging for all the messages received? Got you covered!
Lots of configuration possibilities. We've tuned over 100 settings over the past year to get the performance and reliability just right. This could be a downside though--it's pretty confusing and some settings were hard to understand.
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.
It breaks communication if we don't acknowledge early. In some cases our work items are time consuming that will take a time and in that scenario we are getting errors that RabbitMQ broke the channel. It will be good if RabbitMQ provides two acknowledgements, one is for that it has been received at client side and second ack is client is completed the processing part.
RabbitMQ is very easy to configure for all supported languages (Python, Java, etc.). I have personally used it on Raspberry Pi devices via a Flask Python API as well as in Java applications. I was able to learn it quickly and now have full mastery of it. I highly recommend it for any IoT project.
I gave it a 10 but we do not have a support contract with any company for RabbitMQ so there is no official support in that regard. However, there is a community and questions asked on StackOverflow or any other major question and answer site will usually get a response.
RabbitMQ has a few advantages over Azure Service Bus 1) RMQ handles substantially larger files - ASB tops out at 100MB, we use RabbitMQfor files over 200MB 2) RabbitMQ can be easily setup on prem - Azure Service Bus is cloud only 3) RabbitMQ exchanges are easier to configure over ASB subscriptions ASB has a few advantages too 1) Cloud based - just a few mouse clicks and you're up and running
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.
Positive: we don't need to keep way too many backend machines around to deal with bursts because RabbitMQ can absorb and buffer bursts long enough to let an understaffed set of backend services to catch up on processing. Hard to put a number to it but we probably save $5k a month having fewer machines around.
Negative: we've got many angry customers due to queues suddenly disappearing and dropping our messages when we try to publish to them afterward. Ideally, RabbitMQ should warn the user when queues expire due to inactivity but it doesn't, and due to our own bugs we've lost a lot of customer data as a result.
Positive: makes decoupling the web and API services from the deeper backend services easier by providing queues as an interface. This allowed us to split up our teams and have them develop independently of each other, speeding up software development.
