Open banking is an approach that lets customers securely share their financial data with
approved third-party providers. It relies on APIs, which are standardized ways for software
systems to communicate.

Infrastructure as a Service (IaaS)

IaaS provides virtual servers, storage, and networking on demand. You manage the operating
system and applications, while the provider handles the physical hardware. It offers maximum
flexibility for teams with technical expertise.

Platform as a Service (PaaS)

PaaS gives developers a ready-made environment to build and deploy applications without
managing servers. It speeds up development by handling scaling, updates, and infrastructure
details.

Software as a Service (SaaS)

SaaS delivers complete applications through a browser or app, such as email, project
management, or accounting tools. Users simply sign in and pay a subscription, while the provider
manages everything behind the scenes.

Why Businesses Move to the Cloud

Key benefits include lower upfront costs, easy scaling, global reach, and faster deployment.
Teams can experiment quickly without buying hardware.

Final Thoughts

Understanding these three models helps you choose the right level of control and convenience
for your business needs.