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A financial institution is planning to deploy a new application that requires high security and compliance with regulatory standards such as GDPR and PCI DSS. The application needs to be managed by the cloud provider to reduce operational overhead, should be scalable to handle varying loads, and must ensure data is encrypted both at rest and in transit. Considering these requirements, which cloud service type would be most appropriate for this scenario? Choose the best option.
A
Software as a Service (SaaS) - A cloud service where the provider manages the application and underlying infrastructure, but may not offer the level of customization or control needed for specific regulatory compliance.
B
Platform as a Service (PaaS) - A cloud service that provides a managed environment for deploying and scaling applications, offering built-in compliance and security features suitable for regulatory standards.
C
Infrastructure as a Service (IaaS) - A cloud service offering virtualized computing resources over the internet, requiring the customer to manage the operating system, middleware, and applications, which may increase operational overhead.
D
None of the above - The scenario described does not fit any of the provided cloud service types.