What is a SaaS product for financial services?

From day-to-day operations to regulatory compliance, this category focuses on the impact of innovative financial services software. Particular credit will be given to entrants who can demonstrate considerable user value through case study material or testimonials.

A SaaS (Software-as-a-Service) product for financial services is a cloud-based software application that provides financial services to users. It typically involves a subscription-based model where users can access the service through a web browser or mobile app, without the need to download or install software on their own devices.

Examples of SaaS products for financial services include:

  • Online accounting software
  • Payment processing platforms
  • Investment management tools
  • Tax preparation software

These products are designed to make financial management and transactions more efficient, accurate, and secure for individuals and businesses. They often offer features such as automated bookkeeping, invoicing, payment tracking, budgeting, reporting, and analysis, as well as integrations with other financial tools and services.

Previous recognition for Best SaaS Product for Financial Services

For a broader understanding of this SaaS Awards category, we have gathered examples from previous winners, finalists, and shortlistees which impressed the judging team with their innovative SaaS products for financial services.

Winner of the 2023 and 2022 SaaS Awards 2022 for Best SaaS Product for Financial Services

Quote From Lead Judge – Christopher Southall 

“A previous winner in the 2022 ‘Best SaaS Product for Financial Services’ category at The SaaS Awards, Sterling Stock Picker continues to shine brightly. At its core is an innovative, next-gen AI-driven platform that consistently delivers highly impressive results to its customers. Since 2022, the platform has evolved even further by introducing a range of new features, making it the cherry on top of this already impressive product offering. Well done from everyone at The SaaS Awards!”

Winner of the 2021 SaaS Award for Best SaaS Product for Financial Services

Quote From Lead Judge – Christopher Southall

“DailyPay is one of the most innovative financial services of our generation. DailyPay scraps the age old, antiquated banking tradition of fixed pay days, and brings forth a new age of flexible on demand wage bill payments. Delivered though a robust architecture and excellent user interface. The SaaS solution is secure, intuitive and delivers a great overall user experience. Benefits of using DailyPay to both the employer and the employee are clear, and the innovative use of SaaS is a game changer in many ways. Well done, DailyPay!” 

Finalist for the 2023 SaaS Award for Best SaaS Product for Financial Services
Tipalti is the only global payables automation solution to streamline all phases of the AP and payment management workflow in one seamless cloud platform. Tipalti’s holistic system manages every core payables function, including: self-service supplier management and vetting; tax and regulatory compliance; invoice processing and PO matching; cross-border payments; proactive supplier payment communications; financial and fraud controls; and payment reconciliation and AP reporting.

Finalist for the 2023 SaaS Award for Best SaaS Product for Financial Services

Apex’s platform supports the full investment lifecycle, including digital account opening and funding, custody and clearing, commission-free trading, investor communications, regulatory cost basis, tax forms and much more. Clients include leading fintechs, financial advisory firms, and institutions via our Apex Clearing™, Apex Advisor Solutions™, Apex Silver™, and Apex CODA Markets™ brands.

A strong entry for the Best SaaS Product for Financial Services category should include:

  • Innovative Features: The product should have unique features that solve a real problem in the financial services industry. The features should be intuitive and user-friendly, allowing users to easily navigate and accomplish tasks.
  • Security and Compliance: Financial services deal with sensitive information, and the product should prioritize the security and compliance of user data. It should have strong encryption, data backup, and disaster recovery procedures, as well as compliance with relevant regulations such as PCI-DSS, GDPR, and CCPA.
  • Scalability: The product should be able to grow and adapt to the changing needs of users. It should have the ability to handle increasing amounts of data, users, and transactions without sacrificing performance or reliability.
  • Integration: The product should have integrations with other financial tools and services to provide a comprehensive solution for users. It should be able to easily connect with other platforms such as payment gateways, accounting software, and banking APIs.
  • Customer Support: The product should have a dedicated customer support team that is knowledgeable and responsive. Users should be able to access support through multiple channels such as email, phone, and chat.
  • User Interface: The product should have a clean and intuitive user interface that is easy to navigate. It should be designed with user experience in mind, ensuring that users can quickly and easily complete tasks without frustration.
  • Pricing: The product should have a pricing model that is competitive and transparent. It should be affordable for users while still providing value and a strong ROI.

Overall, a strong entry for the Best SaaS Product for Financial Services category should demonstrate innovation, security, scalability, integration, customer support, user interface, and pricing that sets it apart from other financial services products on the market.

Why Enter The SaaS Awards?

The SaaS Awards is a program from The Cloud Awards. Since 2011, we’ve been helping organizations across the globe gain the recognition they deserve for market-leading innovation in the cloud computing and software sectors.

For a detailed breakdown of all the benefits you receive as an awards entrant as either a shortlistee, finalist or ultimate winner, please see our “Why Enter?” page. The many benefits are replicated across all international awards programs. If you have any questions about this category, please contact us.