Enables pension funds and financial institutions to process payments securely, efficiently manage disbursements, ACH, and wire transfers, automate accounts payable, and comply with regulatory standards including pension disbursement management.
Secure platforms that manage the disbursement of pension benefits to retirees and beneficiaries, supporting multiple payment methods, tax withholding, and payment verification.
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PCI DSS Compliance Adherence to Payment Card Industry Data Security Standards for secure card payments. |
Fiserv regularly advertises PCI DSS-compliant payment infrastructure and is a major vendor in card payments. | |
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GDPR Compliance Ensures all personal data is handled in accordance with General Data Protection Regulation. |
As a global provider, Fiserv offers GDPR-compliance structures for handling personal data for European clients. | |
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Data Encryption All sensitive information is encrypted at rest and in transit. |
Encryption at rest and in transit is a documented part of Fiserv’s security architecture. | |
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Audit Logging Comprehensive logs of system activities for compliance and troubleshooting. |
Audit logging for compliance and troubleshooting is included in Fiserv’s enterprise payment solutions. | |
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Role-Based Access Control (RBAC) Access rights are granted based on user roles to ensure data security. |
Role-based access control (RBAC) is standard in Fiserv’s security design. | |
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Multi-factor Authentication Requires users to verify identity with more than one authentication method. |
Multi-factor authentication is available for user logins and administrative actions. | |
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User Permission Granularity Level of detail in specifying user rights and restrictions. |
No information available | |
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Automated Regulatory Reporting System generates files conforming to legal reporting requirements (e.g. tax authorities). |
Automated generation of regulatory files is a standard offering for financial institutions working with Fiserv. | |
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Regular Security Audits Frequency of formal, independent security assessments. |
No information available | |
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Incident Response Protocols Documented processes for managing security breaches or payment incidents. |
Incident response protocols are required by Fiserv’s enterprise and regulatory clients. |
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Bank Transfer Support Can disburse payments directly to beneficiaries’ bank accounts. |
Bank transfers, ACH, and wire transfers are core functions of Fiserv Payment Solutions. | |
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Check Payment Support Ability to issue physical checks to beneficiaries. |
Check payment support is included; physical check issuance is a legacy payment method supported by Fiserv. | |
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Digital Wallet Integration Supports modern digital wallet services (e.g., PayPal, Apple Pay). |
Fiserv offers digital wallet integrations, including PayPal and Apple Pay, as stated in public solution literature. | |
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International Payment Support Ability to disburse funds in multiple currencies and across countries. |
Supports multi-currency, cross-border payments (international funds disbursement). | |
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ACH/EFT Capability Supports Automated Clearing House and Electronic Funds Transfer mechanisms. |
ACH/EFT capabilities (domestic and international) are a foundational feature. | |
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Direct Deposit Setup Number of unique direct deposit configurations supported. |
No information available | |
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Batch Payment Processing Ability to process multiple payments in a single transaction group. |
Batch payment processing (bulk payments) is core to pension and accounts payable solutions at Fiserv. | |
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Cash Card Support Supports reloadable pension/disbursement cards. |
Fiserv offers cash card/reloadable card solutions for pensions and payroll. | |
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Automated Payment Scheduling Ability to schedule routine disbursements automatically. |
Automated payment scheduling is a documented function in their automated accounts payable offerings. | |
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Customizable Payment Cycles Flexibility in configuring payment periodicity (monthly, quarterly, etc.). |
Customizable payment cycles are supported (monthly, quarterly, etc.), especially for pension disbursement. |
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Multi-jurisdiction Tax Handling Accurately processes multi-state/country tax withholdings. |
Multi-jurisdictional tax handling is necessary for retirement/pension disbursement products; Fiserv offers this. | |
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Automated Tax Calculation Calculates tax deductions based on current rates and exemptions. |
Automated tax calculation is standard for US and international payroll/pension clients. | |
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Form Generation (e.g., 1099, W-2P) Produces required tax forms for pension disbursements. |
Form generation (e.g. 1099, W-2P) for tax reporting is built into Fiserv’s payment and pension suite. | |
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Tax Withholding Customization Adjusts withholding levels per beneficiary preferences or mandates. |
Tax withholding customization per beneficiary or jurisdiction is a standard configuration. | |
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Annual Statement Distribution Prepares and delivers annual tax summary statements to beneficiaries. |
Annual tax statement distribution is included (for 1099-R, W2, etc.) for pensions. | |
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Electronic Tax Filing Integration Links directly to tax authority filing systems. |
Integration with IRS and state e-filing offered for US clients. | |
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Real-time Tax Updates Automatically updates tax tables to reflect legislative changes. |
Real-time tax updates—regulatory updates are part of Fiserv’s ongoing compliance delivery. | |
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Withholding Summary Reports Provides reports summarizing withholdings by date, person, or fund. |
No information available | |
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Tax Liability Calculation Speed Time taken to calculate total tax liabilities per batch. |
No information available | |
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Integrated Tax Advice Tools Guidance pop-ups or modules for administrators regarding tax impacts. |
No information available |
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Automated Beneficiary Identity Verification Instantly verifies beneficiary identities via public records and internal databases. |
Identity verification via external and internal databases is included for fraud mitigation. | |
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Pre-payment Sanctions Screening Screens recipients against government and financial watchlists. |
Sanctions screening (OFAC, etc.) is a basic compliance feature in Fiserv’s platform. | |
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Duplicate Payment Alerts System flags potential duplicate disbursements for review. |
Duplicate payment alerts are part of Fiserv’s controls for disbursement management. | |
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Payment Reversal Handling Supports automated reversal and recovery of disputed or fraudulent transactions. |
Payment reversal for disputes/fraud is part of their payment management system. | |
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Machine Learning Fraud Detection Utilizes AI/ML to spot anomalous payment activity patterns. |
No information available | |
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Two-Step Payment Confirmation Requires double confirmation for outgoing payments. |
No information available | |
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Real-time Validation Speed Average time to fully validate and approve a payment. |
No information available | |
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Automated Beneficiary List Matching Cross-references recipient info with internal eligibility lists. |
Automated matching against beneficiary rolls/eligibility is standard in pension products. | |
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Biometric Verification Support Supports fingerprint, facial, or voice authentication for beneficiaries. |
No information available | |
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Suspicious Transaction Alert Rate Percentage of transactions flagged as suspicious within a period. |
No information available |
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ERP System Integration Interfaces smoothly with enterprise resource planning tools. |
ERP integration is supported and frequently implemented for clients' back-office systems. | |
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API Availability Supports documented APIs for external software connections. |
Fiserv exposes APIs for external system integration, as per developer documentation. | |
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Banking System Integration Directly links with multiple banks for seamless transfers. |
Direct banking system integration is central to their core payment infrastructure. | |
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Payroll System Sync Synchronizes payment data with payroll modules automatically. |
Payroll system sync is available via pre-built integrations and APIs. | |
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Third-party Data Import Allows bulk beneficiary and payment data import from external sources. |
Bulk import of beneficiaries/payment data supported by standard Fiserv enterprise workflows. | |
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Open Banking Support Operates with standard open banking APIs/protocols. |
No information available | |
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Legacy System Adapter Can connect with and migrate data from older pension platforms. |
Migration adapters/services are available for legacy platforms, as stated in product migration guides. | |
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Integration Deployment Time Typical time required to integrate with a new third-party system. |
No information available | |
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Data Synchronization Frequency How often system data syncs with external systems. |
No information available | |
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SFTP/FTPS Support Secure file transfer options for periodic data exchanges. |
SFTP/FTPS secure file transfer supported for institutional clients requiring batch or secure file exchange. |
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Multi-language UI User interface available in several languages. |
No information available | |
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Mobile Access Full access to functions and data on mobile devices. |
Mobile access (including mobile responsive UI and dedicated mobile apps) is offered by Fiserv. | |
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Self-service Beneficiary Portal Beneficiaries can view/pay statements, change details, and request services online. |
Self-service beneficiary portals are featured in their pension solutions. | |
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Accessibility Compliance (WCAG) Meets Web Content Accessibility Guidelines for users with disabilities. |
No information available | |
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Customizable Dashboards Users can tailor home screens to track relevant metrics and info. |
Customizable dashboards are promoted as value adds for user experience. | |
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Bulk Actions Support Administrators can process multiple changes/payments in one step. |
Bulk actions for payments/changes are supported, key for payables/pension systems at scale. | |
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Average User Training Time Time needed for a typical user to become proficient. |
No information available | |
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24/7 Support Availability Customer support is available at all hours. |
24/7 support is available for enterprise clients, as per fiserv.com support pages. | |
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Notification & Alert Customization Users can configure email, SMS, or in-app alerts for key events. |
Customizable notification and alert rules are an advertised product feature. | |
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Real-time Activity Logs Tracks all actions per user in real-time for transparency. |
Real-time activity and audit logs are provided for transparency and compliance. |
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Max Supported Beneficiaries Maximum number of active beneficiaries supported without degradation. |
No information available | |
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Max Payment Processing Throughput Number of payments processed per minute at peak. |
No information available | |
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Average Payment Processing Latency Typical delay from initiation to completion of payment. |
No information available | |
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Concurrent User Support Number of simultaneous active users supported reliably. |
No information available | |
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Cloud-native Architecture Designed for dynamic scalability and uptime. |
Fiserv’s payment platforms are engineered for cloud-native operation, supporting dynamic scaling. | |
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Automatic Load Balancing Distributes processing evenly to prevent system slowdowns. |
Automatic load balancing/distributed processing is part of the platform’s design for high-availability clients. | |
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Disaster Recovery Time Objective (RTO) Maximum acceptable downtime after disruption. |
No information available | |
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System Uptime Guarantee Percentage of time the platform is operational. |
undefined Fiserv offers system uptime guarantees and SLAs to enterprise/pension clients. |
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On-demand Resource Scaling Dynamically allocates resources during peak events (like month-end). |
On-demand/dynamic resource scaling is supported in cloud deployments. | |
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Geographical Redundancy Platform is hosted across multiple data centers/regions. |
Fiserv leverages geographically redundant data centers for business continuity. |
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Custom Report Builder Admins can design ad hoc reports based on core data. |
Custom/ad-hoc report builders are available for enterprise clients. | |
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Scheduled Reports Automatic generation and distribution of regular reports. |
Automated/scheduled reporting is a listed feature in Fiserv’s platform documentation. | |
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Real-time Dashboard Analytics Displays up-to-the-minute disbursement and performance metrics. |
Real-time dashboard analytics are available for all payment processes. | |
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Export Options Supports export to multiple formats (CSV, PDF, XLS, etc.). |
Exporting reports/data in multiple formats (CSV, PDF, etc.) is supported. | |
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Regulatory Report Templates Includes pre-built templates for government or internal compliance. |
Regulatory report templates are included for industry-specific compliance. | |
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Drill-down Capabilities Allows users to get more detail on summarized metrics or anomalies. |
Drill-down capabilities are part of analytics dashboard design. | |
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Forecasting Tools Predicts outflows, funding needs, and beneficiary growth. |
Forecasting tools for payments and beneficiary growth are available. | |
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Data Visualization Support Displays trends, graphs, and charts for quick understanding. |
Data visualization (graphs/charts of payments, trends) available on dashboards. | |
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Custom Metrics Creation Permits custom key performance indicator definitions. |
No information available | |
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Average Report Generation Speed Average time to generate detailed reports from system. |
No information available |
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Clear Fee Disclosure All system fees and payment charges are transparently displayed. |
Fee transparency is a key feature in pension/payment processing regulatory disclosures. | |
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Granular Fee Customization Admins can configure fees by payment method, timing, or volume. |
No information available | |
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Automated Fee Calculation System automatically computes fees per beneficiary/transaction. |
Automated fee calculations per beneficiary/transaction are supported. | |
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Bulk Fee Adjustments Support for adjusting fees across groups or phases with minimal effort. |
No information available | |
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Fee Structure Comparison Tools Generate comparative analysis of different pricing models. |
No information available | |
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Per Transaction Fee Reporting Breaks down fees for every transaction. |
Per-transaction fee reporting is included for compliance and transparency. | |
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Fee Reimbursement Handling System can account for and process fee reimbursements when required. |
Reimbursement handling for incorrectly charged or regulatory-driven fees is supported. | |
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Max Supported Pricing Tiers Maximum number of unique fee/pricing tiers supported. |
No information available | |
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Average Fee Processing Latency Time to apply, compute, and present fee information. |
No information available | |
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In-system Fee Simulation Test potential changes to fees and view impacts without committing. |
No information available |
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Workflow Automation Engine Allows automation of recurring tasks and processes. |
Workflow automation is a promoted core capability (e.g., recurring payments scheduled, exception management). | |
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Customizable Approval Chains Payment processes can require configurable, multi-step approvals. |
Customizable approval chains are offered and required by regulated institutional users. | |
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Automated Exception Handling Identifies, flags, and addresses processing exceptions automatically. |
Automated exception flagging/handling is part of process automation. | |
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Integrated Notifications/Reminders Automated alerts triggered by workflow events. |
Notification/reminder triggers are customizable and part of automated workflow events. | |
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Task Delegation Support Allows tasks to be re-assigned or delegated in workflows. |
Task delegation is supported to maintain continuity of payment processes. | |
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Workflow Execution Speed Average time to pass a payment through the full approval/release cycle. |
No information available | |
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Batch Automation Automates handling of bulk payment or update requests. |
Batch automation is a fundamental component for disbursement to many beneficiaries. | |
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Conditional Logic for Workflows Supports if/then rules based on data (amounts, beneficiary status, etc.). |
No information available | |
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Template Library Includes ready-to-use templates for common pension disbursement workflows. |
No information available | |
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Audit Trails for Automated Actions Every automated action is traceable for accountability and compliance. |
All automated actions are logged/audited for compliance. |
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Automated Software Updates The system self-updates with latest features and compliance requirements. |
Cloud-based platforms receive regular automated updates for security and compliance. | |
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Scheduled Maintenance Windows Defined, communicated periods for planned maintenance. |
Scheduled/planned maintenance notifications are communicated to clients. | |
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24/7 Vendor Support Availability Round-the-clock technical and product support from vendor. |
Fiserv offers 24/7 technical support for enterprise and institutional clients. | |
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Issue Resolution SLA Guaranteed time for vendor to resolve different classes of problems. |
No information available | |
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System Health Monitoring Automated checks and alerts for operation problems. |
System health monitoring and alerts available for operational issues. | |
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Documentation Quality Index Internal rating of system documentation completeness and clarity. |
No information available | |
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User Community/Forum Access Active online community for peer support and tips. |
No information available | |
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Proactive Issue Detection Automatically identifies and reports issues before they impact users. |
Monitoring/proactive issue detection tools included as standard service for enterprise solutions. | |
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Customization Support Vendor can tailor certain solutions or components for client needs. |
Customization support is available for fit-to-client requirements (e.g., bespoke workflows, forms). | |
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Migration Services Vendor-assisted data migration from legacy or competing systems. |
Vendor-assisted migration is a documented part of the onboarding process for pension and payment systems. |
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