Software as a Service (SaaS)
Software as a Service (SaaS) is a way of delivering applications over the Internet — as a service. Instead of installing and maintaining software, you simply access it via the Internet. SaaS applications run on a SaaS provider's servers, where the provider manages access to the application, including security, availability, and performance.
CBS is not a cheap solution — it involves heavy capital expenditure including Data Center, Servers, Networking Equipment, Power and Air-conditioning, Trained Manpower, Software and Licenses, Backup facilities, and DR Site. Under the SaaS model, the vendor provides all of these in a shared mode, freeing the client (banks) from the responsibility of acquiring, maintaining, and upgrading IT infrastructure.
We Provide Core Banking Services (CBS) on SaaS Model
Ethereal Informatics (P) Ltd provides Core Banking Services (CBS) on a SaaS model — enabling cooperative banks to leverage enterprise-grade banking technology without heavy upfront capital investment.
Multitenant Architecture
In a multitenant architecture, a single instance of the software runs on a server and serves multiple tenants. All users and applications share a single, common infrastructure and code base that is centrally maintained. Because SaaS vendor clients are all on the same infrastructure and code base, vendors can innovate more quickly and save the valuable development time previously spent on maintaining numerous versions of outdated code.
Easy Customization
Each user can easily customize applications to fit their business processes without affecting the common infrastructure. SaaS has offered customizations that are unique to each company or user and always preserved through upgrades — meaning SaaS providers can make upgrades more often, with less customer risk and much lower adoption cost.
Better Access
Improved access to data from any networked device, making it easier to manage privileges, monitor data use, and ensure everyone sees the same information at the same time.
SaaS Trends
- Organizations are developing SaaS integration platforms (SIPs) for building additional SaaS applications
- Rapid deployment and reduced time-to-value compared to traditional on-premise installations
- Subscription-based pricing lowers the barrier to entry for smaller institutions
- Automatic updates ensure clients always run the latest, most secure version
- Built-in disaster recovery and business continuity capabilities