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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

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