Youtap /
Why smart financial service providers are using the Cloud

Why smart financial service providers are using the Cloud





With multiple banks and payment service providers (PSP’s) breaking from the tradition of owning their platforms in favor of implementing these services into their secure data centers, the cloud is now driving transformation, culture, and new digital and value-added services into the market quicker than ever before.

Banks and large PSP’s need to embrace the cloud and transform their processes to remain competitive in the future. With the rise of challenger digital banks, it is hard to re-imagine banking, payments, or any microservice without a cloud architecture soon. Service providers require architectures that can process high volumes of data, providing real-time analytics and reporting to enable these providers to service their existing customers and attract new customers.

More than 70% of Youtap’s deployments are now cloud deployments, with customers choosing a cloud model over a platform model.

So why is this?

Apart from the usual benefits of cloud being:


  • the ability of a bank or payment service provider to reduce their capital expenditure.
  • enables these providers to get to market quickly through an operating expenditure model rather than a capital expenditure model.
  • predictable financial model, where all future upgrades and services are included in the cloud model.


  • enables the provider to scale without the requirement to purchase large amounts of additional hardware, operating systems, or database infrastructure.
  • a micro-services architecture enables a bank to innovate its core banking or a payment service provider to extend the capability of their payment platform rapidly and scale to deliver new relevant applications to their customer bases.


  • traditionally, upgrades and the ability to integrate new features and products into providers core banking or mobile money solution has been difficult, lengthy, and costly. With cloud and a range of API’s, new features and products can be integrated, tested, and released into the market within weeks.
  • as innovation becomes available, the core software is immediately made available to all customers. Customers can manage the rollout of these features, including white-labelling and go to market.

The real benefits of cloud deployments are Apps. The ability to offer new features such as loyalty, payments, analytics, and various small business and consumer applications automatically provisioned through the App, with innovation being pushed to the customer frequently, keeping the applications and services offered to each customer segment relevant.

Cloud security has moved ahead in recent years. Youtap’s cloud architecture prides service providers and banks with the latest in Network and Infrastructure Security, Identity and access management (IAM), Data protection coupled with a range of tools for logging and monitoring in real-time and resilient processes for the administration, governance, and risk and compliance reporting required by the largest of banks.

Youtap has multiple success stories from service providers that have migrated to the cloud.

Please do not hesitate to contact us for more information.

Leave a Reply

Recently Viewed

No data was found

Latest Articles

19 February 2024

Youtap Technology Achieves PCI-DSS Certification

Youtap Technology Limited, a leading provider of contactless mobile payments and financial services software and…

15 February 2024

Traditional Banking, Digitization, and Partnership: Youtap’s Digital [Wallet] Solution

The banking and finance industry is constant because we all need money of any description…

29 January 2024

Empowering the Future: Youtap and the Rise of FinTech’s Super App.

In the dynamic world of technology and finance, there is a developing trend that has…

19 January 2024

Open Banking: Financial Intermediation in a Data-Driven World.

The ongoing transformation throughout the banking and financial institutional industrial complex has seen a new…

16 January 2024

Data Intermediation and the Disruption of Open Banking in a Data-Driven World.

At the intersection of traditional banking and financial intermediation (FI) are the disruptive forces of…

29 November 2023

Revisiting Open Banking. Striking a Balance Between Regulation and Deregulation.

The banking and financial industry is in the midst of a transformative, disruptive era, with…

Youtap Search