China's Residential Subscriber Base Will Triple by 2010 -- "Driven by explosive growth in China, the number of homes using broadband Internet services in the Asia-Pacific region will grow from 61 million today to 176 million by 2010, according to a new Strategy Analytics forecast, Residential Broadband Internet Service in the Asia-Pacific Region: Market Outlook & Analysis. The firm predicts that although China trails other Asian markets in broadband adoption today, the immense size of the Chinese consumer market will make it a key driver for broadband growth in the region. By 2010, the Chinese market will account for 64 percent of all residential broadband users in the region, up from less than 40 percent today. The Asia-Pacific region also includes countries that already lead the world in broadband adoption. 77 percent of homes in South Korea use broadband today, while Taiwan, Hong Kong and Singapore all boast penetration rates of 50 percent or more. In these mature markets, service providers will need to use a combination of higher access speeds, lower prices and rich media content to sustain growth over the next five years."
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