{"id":4882,"date":"2014-10-10T07:00:31","date_gmt":"2014-10-10T15:00:31","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=4882"},"modified":"2014-09-12T05:51:36","modified_gmt":"2014-09-12T13:51:36","slug":"saas-financial-services-choose-the-cloud-to-reduce-costs-and-remain-competitive","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/saas-financial-services-choose-the-cloud-to-reduce-costs-and-remain-competitive\/","title":{"rendered":"SaaS: Financial Services Choose the Cloud to Reduce Costs and Remain Competitive"},"content":{"rendered":"<p>Banks and insurance companies are no different than most other industries. \u00a0They&#8217;re under increasing pressure from competitors and expectations from their customers. \u00a0This industry is increasingly turning to SaaS as a way to remain competitive and reduce costs.<\/p>\n<p>A <a title=\"SAP\/Ovum on Financial Services using SaaS\" href=\"https:\/\/www.sap.com\/bin\/sapcom\/en_us\/downloadasset.2014-09-sep-09-16.ovum-financial-services-perspectives-on-the-role-and-real-impact-of-cloud-pdf.html\" target=\"_blank\">SAP\/Ovum survey<\/a> of IT decision makers at retail bank and insurance companies <a title=\"SAP\/Ovum financial services\" href=\"http:\/\/www.marketwatch.com\/story\/new-survey-findings-from-sap-and-ovum-reveal-high-cloud-adoption-in-the-financial-services-industry-2014-09-10-318300\" target=\"_blank\">found that<\/a>:<\/p>\n<ul>\n<li>42 percent of banks and 33 percent of insurers expect that their use of SaaS to increase significantly over the next year and a half<\/li>\n<li>42 percent consider only SaaS for new IT projects<\/li>\n<li>80 percent say that SaaS enables quicker response to new opportunities<\/li>\n<li>Barriers to SaaS include regulatory compliance (36 percent), SaaS availability (35 percent), and integration of SaaS solutions with on-premise and other SaaS applications<\/li>\n<\/ul>\n<p><a title=\"Daniel Mayo bio\" href=\"uk.linkedin.com\/pub\/daniel-mayo\/0\/530\/468\" target=\"_blank\">Daniel Mayo<\/a>, chief analyst of Ovum, said that &#8220;the cloud is now a growth driver for banks and insurers, rather than a medium just for bringing costs down. They are buying SaaS solutions to simplify operations, develop better products and quickly enter new markets. 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A SAP\/Ovum<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/formtek.com\/blog\/saas-financial-services-choose-the-cloud-to-reduce-costs-and-remain-competitive\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-4882","post","type-post","status-publish","format-standard","hentry","category-saas"],"_links":{"self":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/4882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/comments?post=4882"}],"version-history":[{"count":0,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/4882\/revisions"}],"wp:attachment":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/media?parent=4882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/categories?post=4882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/tags?post=4882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}