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Towards banking-as-a-service

Towards banking-as-a-service

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Cloud-Based Service Models And The Transformation Of Banking

SUMMARY

For banks, the move to the cloud could be the key to reducing the complexity of their processes and facing the challenges of the digital times, this report reveals.

The paper examines first the challenges that the financial sector and that banks specifically are facing including low-interest rates and the introduction of regulatory requirements that are increasing operating costs and bringing profit margins down.

In that difficult context, the study indicates that cloud-based service models offer high value for banks as a strategy for reducing complexity and adapting to the new regulations and building fully automated and end-to-end digital processes.

Models including SaaS and BPaaS present a high degree of standardization and automation, the document explains. However, these models also offer many advantages that should not be undermined. In the first place, cloud-based service models offer ongoing accessibility and flexibility.

Cloud systems are also designed for growth and scalability. In addition, cloud-based service models can be easily replicated which means that they reduce the usual operating risks as a consequence of a lack of capacity, for instance.

The dynamic nature of cloud-based systems is adequate as well to raise efficiency in the case of cyber attacks or security events. Finally, cost reductions are always presented as one of the main reasons for cloud-based service models.


 

OUTLINE

Challenges

Getting ready for transformation

Cloud-Based Service Models

Banking-As-A-Service 

Banking-As-A-Service Solutions 

Conclusion 

DETAILS

Overview

Researchfinder Rating
5 out of 5 stars
Title
Towards banking-as-a-service
Sub-Title
Cloud-Based Service Models And The Transformation Of Banking
Region
Global
Published
June 1, 2018
Publisher
ZEB
Price
FREE
Language
ENGLISH

Content

Number of Pages
20
Number of Tables
0
Number of Exhibits
7
Topics
cloud, saas, software
Tags
banking, cloud computing, financial services, global, SaaS, SaaS adoption, SaaS applications, software, ZEB
Methodology
Not available.
EVALUATION

This is an excellent report on SaaS in the banking sector, with quality data and great graphics.

Positives:

  • Great graphics
  • Clear conclusions
  • Excellent writing style
  • Highly focused on the banking sector

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