The International Telecommunication Union (ITU) officially approved the very-high-bit-rate digital subscriber line 2 (VDSL2) standard. The new VDSL2 Recommendation (ITU-T G.993.2) delivers up to 100 Mbps both up and downstream, a ten-fold increase over "plain vanilla" ADSL. Yoichi Maeda, chairman of the ITU Telecommunications Standardization Sector (ITU-T) Study Group responsible for the work, said: "We have leveraged the strengths of ADSL, ADSL2+, and VDSL to achieve the very high performance levels you will see with VDSL2. This new standard is set to become an extremely important feature of the telecommunications landscape, and is a landmark achievement for our members, many of whom are relying on this Recommendation to take their businesses to the next level."
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