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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TIBCO B2B Integration Solution
Score 8.0 out of 10
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Palo Alto-based TIBCO offers a B2B integration, automation 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.
If the environment has many different protocols for data exchange between partners and most of the protocols follow some standards like EDI X12, TIBCO BusinessConnect should be a good tool to take care this business use case. If the environment has a few simple protocols for data exchange, e.g. SFTP, FTPS or emails, some lighter weight tools will be enough and TIBCO BusinessConnect may be an overkill tool.
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.
When a new version is released, its better to test it thoroughly before letting customers apply the release in their real time environment. There were missing functionalities from the previous versions which were not identified ahead of time.
The main reason TIBCO BusinessConnect was selected is because of the overall solution it provides with the different TIBCO products. Since TIBCO BusinessWorks and TIBCO Enterprise Message Service are already in place and the canonical model is already built and integrated into the Information Bus, TIBCO BusinessConnect is the best tool to work with them.
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.
