All in one for financials, but can become costly!

Rating: 8 out of 10

June 2, 2022

Use Cases and Deployment Scope

Helps us make new payments and also refunds for the clients and projects. This product helps us load bankruptcies and send files to attorneys. They host all of these services in offsite datacenters that we have direct circuit connections to. Handle the back end for all of our account transactions, opening new accounts, transfers, etc.

Pros

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

Cons

The Access Manager module is a little bit outdated
They like to charge you for every small thing
Intermittent issues with their circuits going down

Likelihood to Recommend

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.

Verified User

Team Lead in Engineering (5001-10,000 employees)

Vetted Review

1 year of experience

Fiserv Wealth Management Network improves reach, strengthens partnerships and optimizes efficiency, allowing us to stay competitive in the constantly evolving financial services landscape

Rating: 8 out of 10

Incentivized

June 1, 2022

Use Cases and Deployment Scope

The main way we use Fiserv Wealth Management Network is by leveraging their Asset Manager Connect product which is bundled with their messaging services and data services. This allows us the benefits of having a single pane for interacting with different account partners including real time data entry, consolidated reporting across managed partners and the capability to broadcast unified account specific communications across those engagements.

Pros

has an extensive network that integrates with a large majority of managed account partners in real time
consolidates access to portfolio tools and reports across partners
Automates messaging and notifications

Cons

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.

Likelihood to Recommend

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.

Verified User

Professional in Information Technology (201-500 employees)

Vetted Review

3 years of experience

Fiserv Wealth Management Network Reviews & Insights