Trends Report

Software-As-A-Service In Banking

The Time Has Come For Public Clouds In The Financial Services Industry

July 13th, 2015
Liz Herbert, VP, Principal Analyst
Liz Herbert VP, Principal Analyst
Jost Hoppermann, null
Jost Hoppermann
With contributors:
Holger Kisker, Ph.D. , Dominique Whittaker , Joseph Miller , Rachel Birrell

Summary

Software-as-a-service (SaaS) has become a common deployment option for many horizontal enterprise applications, such as CRM, HR, collaboration, and sourcing applications. But to date, the use of SaaS for vertical-specific applications has been limited, especially in banking. Security and privacy concerns and regulations are some of the reasons that banks have been reluctant to put sensitive data into a public cloud. They also had little choice, as banking-specific SaaS offerings were rare. But times are changing, and SaaS continues its rapid procession into more and more markets. Does SaaS for banking loom on the horizon? This report highlights selected banking-specific public cloud offers to help AD&D professionals use SaaS to transform and modernize their bank's application landscape.

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