SaaS and financial services — A marriage made in heaven

Overview

Initially, IT departments were skeptical of SaaS. However, one of the changes that we have seen in many IT organizations is that they have come to see SaaS as a valuable contribution.

IDC's survey data shows that the majority of financial services
companies are already using SaaS, suggesting that SaaS has
crossed the chasm in financial services. A particularly valuable
advantage for the financial sector, where IT actions often need to be executed quickly, is that SaaS is generally much faster to implement than on-premises IT systems.

The emergence of SaaS involves moving beyond applications that manage records and data to ones that handle core business processes and transactions. Software as a service (SaaS) is an unstoppable shift in the software industry, with software providers, their partners, and customers increasingly embracing this new delivery model for software.