SaaS is nothing new to the financial industry. Software-as-a-Service (SaaS) accelerated substantially with Covid-19 in the last months, but it started to be a hot topic many years ago. Software-as-a-Service (SaaS) model, in particular, became notably beneficial for financial institutions. Otherwise, organizations have been slow to adopt it to update their legacy systems.

Where are we now with SaaS in the banking industry? Multiple challenges and possibilities are emerging in a market that is quickly evolving and reinventing itself. However, the benefits that it has brought to financial services firms are clear and numerous.