Digital transformation is driving cloud adoption across banking financial services, and insurance. The cloud will help firms reduce operating expense (OpEx), improve the speed, security, and reliability of their infrastructure and support innovation and support new business strategies.

As businesses step into a new era of cloud technology, software vendors are increasingly offering cloud-based -as-a-Service (XaaS), which include Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS) and Infrastructureas- a-Service (IaaS).