So, What the Heck Are Web Services? -- "Good question, and it raises lots of others. Here are some straight answers about this critical new movement in computing. Lots of people would say a new software technology called Web services really caught techdom's attention with a 1999 press conference held in downtown San Francisco by software giant Microsoft. Chairman Bill Gates introduced to the world a concept he called BizTalk, which was formalized five years ago under the name .Net. The new technology, which would eventually be followed by a suite of server software for businesses, was Microsoft's entr�e into the growing business of using the Internet to connect different types of software together, regardless of who wrote the programs."
The BaaS model has been adopted across a wide range of industries due to its ability to streamline financial processes for non-banks and foster innovation. BaaS has several industry-specific use cases, where it creates new revenue streams. Banking as a Service (BaaS) is rapidly emerging as a growth market, allowing non-bank businesses to integrate banking services into their core products and online platforms. As defined by Juniper Research, BaaS is "the delivery and integration of digital banking services by licensed banks, directly into the products of non-banking businesses, commonly through the use of APIs." BaaS Market Development The core idea is that licensed banks can rent out their regulated financial infrastructure through Application Programming Interfaces (APIs) to third-party Fintechs and other interested companies. This enables those organizations to offer banking capabilities like payment processing, account management, and debit or credit card issuance without