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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TrueCommerce
Score 6.1 out of 10
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Truecommerce EDI software is supported by a global commerce network that is used to connect with 160,000+ retailers. Headquartered in Cranberry Township, PA, the TrueCommerce Trading Partner EDI Platform is designed to offer an end-to-end solution for EDI compliance and integration.
They offer almost every single thing a financial institution would need for their core business allows you to save quite a bit of money by bundling everything together. Fiserv has greatly increased the speed in which they roll out new banking product. From a banking software platform, they are the best in the business.
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.
Honestly, I can't think of one! The only thing Nexternal doesn't sync up with that we use is GSO, but that is a small west coast shipping service, so I wouldn't expect them to integrate with them.
Nexternal has been around for over a decade - they may have defined the ecommerce admin panel. That said, they could stand to update it a bit - adding more drag and drop functionality and integrating a more comprehensive CMS allowing your home page to be part of your ecommerce website.
Doreen and Lanette are my lovely ladies. They are always available and do whatever they can to make sure I am taken care of. They have always been there for me and I know they will always be there for me.
I had help from start to finish. Doreen, my rep, was very patient, concise, clear, and she has always had the answers I need. Setting up your store is time consuming at first, but with the support system that Nexternal offers, it is painless.
I can't name any other competitors that we considered because I have signed multiple NDAs that prohibit me from doing so. I can say that the decision to go with Fiserv WMN was in large part because we have other Fiserv Products and as a result, we already have a strong established relationship with Fiserv (and First Data for that matter, before they were acquired by Fiserv)
When we started with Nexternal, there were not as many options as there are today. We felt the platform was one that we could work with and had a great customer support contact that helped us during the creation of our site.
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.
Because we are a development team who focuses on integrating Nexternal with our clients' sites, we can't speak to specific ROI or conversions, however, the length of time our clients stick with Nexternal says it all - in an industry where there are no shortage of choices in platforms, we have rarely ever moved a client from Nexternal to another platform. Instead, the vast majority of our clients who use Nexternal now either started off with the platform or moved to Nexternal from a less-than platform. We have clients who have been with Nexternal for over a decade, and that's really saying something.
In the 10+ years that we have worked with Nexternal we have developed a solid relationship that is built solely on trust. We don't get any commission for referring customers to their site, nor do they receive any commission for sending customers our way. We work together because we enjoy it and we know that the other is dependable and worthwhile.
