Fintech SaaS

Technology has made so many things easy for us. Why would you buy a USB drive when you can have everything on the cloud? And as much as some people love coding, a lot of businesses need code-based solutions like feedback forms but don’t have the time or the patience to learn to code. That’s why we’ve got to be SaaS Savvy!

What is SaaS?

Not to be confused with sassy, SaaS is Software as a Service and that is providing internet-based application as a service. So instead of wasting your gigabytes on downloading program software, you can get the same thing in a much easier way. SaaS products are all around us and I bet that you use them every day. I mean if you have not used Zoom in the past two years then, I really envy you! Gmail, One Drive, Dropbox, Slack, Microsoft Teams, Netflix, and more! All of these are a SaaS.

SaaS & fintech

Nowadays, most of us rarely go to banks thanks to the hassle-free wonder of internet banking. What is that? That is SaaS. When you’re using your browser to check your bank account, you are using a SaaS. It’s the same thing as downloading an app, and installing it, but without all that; it’s just quick and simple. Ever since the pandemic, SaaS has pushed fintech forward due to the increased number of people who didn’t want to risk their life at a bank! And it did help in several ways!

1.    Accessibility

SaaS platforms provide a wide range of value-added services, such as customer management, analytics tools, and fraud prevention. These services can help fintech startups to improve their business operations and give fintech startups an edge. As for customers, SaaS products could be accessed from any mobile phone or internet browser. So, it’s useful, convenient, and efficient.

2. Cost-friendly

The days of paying a fortune for on-premise software and hardware are over. Since everything is up on the cloud, you can save on infrastructure costs. It’s especially beneficial for start-ups!

3. Scalability

Need more space? Less space? New features or functions? SaaS has got you covered! It can adapt to your business needs and can be scaled with just a simple subscription.

4. No downtime

SaaS takes one more thing off your hands, which is dealing with bugs. If there’s a problem with the platform, it’s not your problem to fix, rather it’s the software company’s problem. Again, this will save you time, money, and a headache.

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