Many of us are now familiar with the concept of software as a service (SaaS)—that is, the licensing and delivery model that enables users to subscribe to use-specific programmes and applications over the internet rather than having to buy them outright and install them on their computers.
Standard Chartered Bank
In the old days, banks could work independently of others providing financial services, but not anymore. As the world becomes more interconnected, banks are being drawn into emerging ecosystems comprised of old and new players. Cooperation and integration are the names of the game for both incumbents and newcomers such as fintechs and virtual banks, but putting the blocks in place to build the infrastructure is easier said than done.