While integrated telecom services continue to be futuristic in concept, perceived consumer demand for these services is growing, reports In-Stat -- Over half of the respondents to an In-Stat consumer survey indicated a desire to purchase integrated services. Integrated services will allow providers to actually tie what have been disparate networks together (primarily landline, wireless, and voice) and offer a new class of services. Cell-phone/landline integration continued to have the highest positive response, with 62 percent of respondents indicating an interest in purchasing this service, as compared to 51 percent respondent interest in a 2004 survey. "The meaningful way of tying the pieces of telecom services together has quickly evolved from simply single-bill bundling to talk of integrating the various networks customers use into unified, experience-based service offerings," says Amy Cravens, In-Stat analyst. The survey also revealed that the 18 to 34-age bracket, as well as those with household incomes of $100,000 or more, are most willing to pay for integrated services.
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