According to Pyramid Research, mobile number portability (MNP) was first instituted in the U.S. on November 24, 2003 � a date wireless carriers feared most. U.S. mobile operators braced themselves for what they expected to be one of the largest challenges within their industry. Eighteen months after its introduction, number portability has been more of a lumbering elephant and less of a roaring lion. At the onset, the FCC, wireless operators, and many industry analysts expected 30 million subscribers to transfer their wireless number within the first 12 months of MNP�s introduction. Only 7.8 million actually did. The top five national carriers have all added customers during this time, with AT&T/Cingular growing by about 5 percent on the low end, and T-Mobile growing by more than 33 percent on the high end. Overall, Verizon Wireless and T-Mobile have been the biggest winners as they have focused on improving network quality and customer service. However, the new Cingular may soon become MNPs largest beneficiary as it has become the nation�s largest carrier.
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