Deploying Your Fintech Product as a SaaS Application?

by Ned Hallett
As Digital Marketing Manager and JAM’s primary pair of lungs, I provide the JAM-y take on the ever-evolving worlds of DevOps, SaaS, MACH - and acronyms yet to be coined.
Published on October 2022

For any fintech app, the question of how to deliver the product is a biggy. And in recent years, one answer to that question has been a resounding, “SaaS”.

Today, we take a look at the software-as-a-service model, and why it’s such a great match for fintechs.

About software as a service

Before getting into the advantages of SaaS for fintech, let’s define it.

SaaS is a software delivery model in which companies offer access via the web.

With SaaS, the customer does not need to install or buy a licence. They simply pay a subscription fee, log in and get started. 

Why should you deploy your fintech product as SaaS?

The benefits of SaaS are many, making the transition from traditional software a well-trod path for those modernising, and the first port of call when building a greenfield.

But before you go all in on deploying your fintech as SaaS, here’s what might sway you either way…

Pros of SaaS for fintech products


SaaS enables companies to scale up quickly and effortlessly, as you’re serving all customers from a central code base. This makes it a great option for fintechs with limited resources who want to launch a product fast – and when the customers do start flooding in, you’ll be able to meet that demand as and when.

However, this changes between multi-tenant and single-tenant SaaS (this is our two cents on the matter).

Focus on the core product 

SaaS enables fintechs to focus on their real work – designing and building the best application. This is because serving all customers in one app essentially cuts down a lot of management time. Especially if you have someone supporting your SaaS application 24/7 (hint; hint).

High predictability  

Pay-monthly billing means a steady, predictable cash flow. 

Cons of SaaS for fintech products

Data security 

Depending on which tenancy model you adopt, data isolation can present a real challenge. This is especially an issue for fintechs, as they’re often subject to the toughest rules and regulations on customer data (seeing as it is people’s hard-earned cash).

Check out the piece we linked above for more on this.


If you’re offering a B2C service like Monzo, your customers will expect to have to log on. However, vertical-specialised B2B solutions – a piece of accountancy software, let’s say – might be held back by the need for an internet connection.

Lack of customisation 

Again, this one is more of an issue for highly specialised B2B solutions. The centralised nature of SaaS means less room for individual customers to tailor their software. Although this can be mitigated by opting for a single-tenant architecture.

How to build your fintech as SaaS

When it comes to building your fintech as a SaaS product, it all depends on where you’re up to.


Many start-ups partner with a development agency if the skills aren’t in-house. The good news is SaaS is very of the moment, so finding a partner with a great SaaS track record will be a piece of cake. 

On top, many product companies might want to tag in a cloud specialist to ensure the application is built on the most scalable and cost-effective cloud-native infrastructure.

Legacy apps 

If you’ve already got a fintech product that isn’t SaaS, never fear. It’s possible to modernise and migrate an existing product to the SaaS model, which will also entail working with a specialist partner.

To sum up

Ultimately, SaaS is a flexible, scalable solution that can help you grow fast. It’s the software model of the moment, and if it’s the right fit, it’s kind of a no-brainer.

However, fintechs in particular need to look at the impacts of both single-tenant and multi-tenant architecture on data management. And fintechs offering more complex solutions (most likely B2B) should be wary of the lack of customisation. 

If you’re still not sure whether SaaS is the model for you, just get in touch and we’d be happy to talk it through.

And while you’re at it, why not check our quick-and-easy cheat sheet on choosing a cloud provider for a fintech application. 

Till next time!



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