Towards Effective Deployment of SaaS Applications in Banks: Current Challenges and Mitigation Strategies

Abstract

Banking and financial institutions that rely on cloud infrastructure are constantly updating their applications and cloud computing technologies to meet evolving business requirements and integrate new features. While SaaS and PaaS platforms are developed and maintained by cloud service providers, the SaaS platform is operated, monitored, and managed internally by the bank’s technology department. SaaS remains a dynamic platform that evolves in response to business needs and changing scenarios. In addition, SaaS serves as a channel to support banking operations using innovative tools and technologies while maintaining existing infrastructure capabilities, scalability, and regulatory compliance. The platform hosts critical applications essential to the bank’s daily operations, including core banking systems, online banking platforms, card processing applications, ATM and EFTPOS networks, and security monitoring tools. 

Given the importance of these applications, SaaS platforms are designed to minimize business disruptions. This study discusses the challenges associated with deploying changes on SaaS platforms and reviews strategies to mitigate these challenges while ensuring minimal or no impact on the cloud computing architecture.