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In Cloud Computing, IT infrastructures, platforms and software are offered as a service over a network (e.g. over the Internet). Here, the actual system is saved in a distant data center, but can be used from the local workplace computers. One aspect of this technology is Software as a Service (SaaS), in which customers use software offered by the data center for their own purposes. Fintechs use this in the area of electronic payment transactions; as new security standards are continuously being defined, purchasing specific software does not pay off. Disaster Recovery as a Service (DRaaS) is also possible over Cloud Computing.

Term-Nr.: 163

German: Cloud Computing (209)

Source: Fintech-Hub m. e. E., 29.05.2019

Notice: The contents of this terminology collection Lawpedia® with a focus on business law (especially financial market law) have been researched with great care and compiled on the basis of an extensive flash card, training materials and literature. The various sources (as far as they could be found) can be found in the abbreviations and source references. References to other sources are welcome. Despite the care taken, the provider cannot accept any liability for the accuracy, completeness and topicality of the information provided. The information is of a general nature in particular and does not constitute legal advice in individual cases.

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