Financial Software as a Service

Abstract

Software as a service as one of the cloud delivery models that supports fine-grained components. Financial applications demand better performance and accuracy in a cloud than the traditional computing platforms. Therefore, designing financial software as a service (FSaaS) requires an engineering and systematic approach. This paper has proposed an integrated service-oriented architecture and a SaaS component model for financial domain that provides the required scalability, flexibility and customisation. It has also demonstrated the design and customisation of service component interfaces to a financial simulation so that it provides automatic prediction models for investors to know accurate results for buy and sale prices. Therefore, large-scaled simulations can be achieved within a matter of 13.5 second for outlier removal and within 9 seconds for high-performance risk computation on the Cloud. This paper shows the holistic and complete approach of illustrating the system design of FSaaS, showing the two major algorithms and the results of experiments of running these two algorithms. It provides plans to integrate new and existing services with FSaaS.