One of the most significant advantages of SaaS-based applications is their scalability. As SaaS concept is based on cloud technology, it can enhance the capabilities of an organization's existing IT infrastructure.
Fremont, CA: The revolutionary SaaS (Software-as-a-Service) concept can transform many industry sectors, including finance! SaaS, as cloud-based technology, can benefit both fintech companies and banks, particularly in meeting regulatory requirements and providing security to their customers. This concept allows businesses to access and use cloud-based apps rather than purchasing or developing their productivity software. As a result, financial organizations can reap end-to-end cost savings, data security, scalability, and agility from the fintech sector. Listed below are top considerations for SaaS deployment.
Control of the Perimeter Network
Perimeter defense is concerned with controlling traffic entering and exiting a data center network. Perimeter network control functions as a firewall, filtering out potential threats and unknown or unwanted traffic that could harm the network.
Management of Virtual Machines
IT infrastructure security is of the utmost importance. The BFSI sector can achieve this goal by upgrading virtual machines regularly. Such frequent updates also allow the industry to combat the most recent cyber threats and vulnerabilities. In addition, a reputable SaaS vendor or fintech app developer incorporates security features into the software to ensure the safety of standardized virtual machines (VM) and third-party applications used in finance companies' existing systems.
Management of Access
It is necessary to specify who has access to SaaS-based applications and what kind of permissions they require. The SaaS vendor provides a unified framework for managing user authentication based on this access management. The access of users is defined by financial institutions based on their roles.
Management of Incidents and Governance
When it comes to financing operations, incident management and regulatory compliance are critical. Because specific incidents must be captured, reported, and tracked to the end. You must clearly define and document everything for effective governance when deploying SaaS-based applications.
Reliability and Scalability
One of the most significant advantages of SaaS-based applications is their scalability. Because the SaaS concept is based on cloud technology, it can enhance the capabilities of an organization's existing IT infrastructure. In addition, SaaS services are more reliable and scalable than vertical and horizontal scaling because the SaaS vendor can add more robustness to the solution by utilizing a content delivery network (CDN).
