3 Reasons to Diagram Your Ecosystem

When considering your ecosystem, here are the top three reasons to have an ecosystem diagram created for your financial institution.

Knowing Your Solutions
Successful banking requires your financial institution to know what solutions you own so you can be the most efficient business and recognize how to meet your accountholder’s expectations.

Having your solutions diagrammed equips you with the visual tools needed to understand your entire ecosystem. Once you know your ecosystem, you can better serve your employees and your accountholders.

The second puzzle piece is using the visual of an ecosystem diagram to have meaningful, honest, and strategic conversations with your vendors. Having open and honest conversations around the solutions you own is vital to your growth. Additionally, the ability to showcase your ecosystem in a diagram while discussing your financial institution’s future creates strategic opportunities for you and your vendors.

At Jack Henry, we pride ourselves on building relationships with our clients through these very conversations.

Supporting Your Solutions
You can utilize your diagrammed ecosystem to work through certain issues/cases with your Jack Henry representative. With each party on the same page, you can anticipate great customer service.

Training is also crucial for your financial institution’s success. Putting your entire ecosystem in a diagrammed form can be beneficial when training new, full-time employees.

Building out time for testing before making changes is also a critical component of your financial institution’s success. With an ecosystem diagram, you can run tests in advance and see integration points before making any changes to your system.

Meeting Audit and Examiner Requirements
In today’s evolving financial world, auditors and examiners are beginning to require additional and specific documentation like Solution Diagrams.

Empowering your financial institution with the ability to show examiners and auditors what you own and how it communicates illustrates your dedication to their work efforts and requirements.

Are you interested in learning more about Jack Henry’s Architecture Services and solution diagrams? Contact us today at solutiondiagrams@jackhenry.com for more information.