Brussels -- According to the European Commission, the number of broadband lines in the EU increased by 70 percent year-on-year to more than 40 million lines, according to the latest government figures. On average, more than 45,000 broadband lines were connected every day in the EU in 2004, a remarkable increase compared to the average of 29,000 lines per day recorded in 2003. EU Information Society and Media Commissioner Viviane Reding warned that many member states' performances have been patchy despite the fact that Europe's overall performance has been very strong. The Netherlands and Denmark lead the pack with penetration rates of 19 percent and 18 percent, respectively, but a second group of member states averages out at about 8 percent, while a third group has been unable to push its average rate above 6 percent, Reding said.
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