The Full Form of FAAS is Framework as a service.
FaaS (framework as a service) is an offering that falls somewhere between SaaS (software as a service) and PaaS (platform as a service). A software framework offered by a service provider can be readily customized to meet the business needs of the user/customer by providing the foundation on which to rapidly develop an application or system. While it is not a finished product like SaaS, it requires less work to implement than a full PaaS system. FaaS vendors may offer solutions by industry verticals (such as financial institution or emergency response services applications) or by production environment type (such as Web applications).
FAAS
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Framework as a service
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