According to a new study from ABI Research, annual global sales of dual-mode mobile phones -- which can connect to either a conventional cellular service or a Wi-Fi network -- are likely to exceed 100 million during the final year of this decade. Such dual-mode handsets have been virtually unknown to consumers until now, and have not penetrated the enterprise space to any degree either. But according to ABI, some of the leaders of global telecom -- notably British Telecom and Korea Telecom -- plan to offer dual-mode services by the end of 2005. That could start a very large ball rolling. Though the full spectrum of capabilities won't appear in the first generation of products, when these services are mature you will be able to start a phone call at home (where your phone connects to your residential Wi-Fi network and then to your broadband Voice over IP phone service), continue it in your car (where the phone switches to your cellular provider's network), and wind it up at work, where the phone once more switches to your organization's 802.11 LAN, and VoIP.
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