Worldwide, wireless subscriber growth is experiencing robust expansion after several years of slower growth due to the economic downturn of the last few years, reports In-Stat. By 2009, the worldwide wireless market will grow to more than 2.3 billion subscribers. There will be no relief from the ongoing battles for airlink supremacy over the next several years. "GSM's steady growth through 2007 will turn negative as operators move subscribers to third-generation (3G) WCDMA," says David Chamberlain, In-Stat Senior Analyst. "While the second-generation GSM system (including GPRS & EDGE) will remain the dominant airlink throughout the forecast period, CDMA airlink standards (CDMA & WCDMA) will soon encroach on GSM's numbers. By 2009, WCDMA networks will be providing service for over 40 percent of the world's CDMA users." However, those inroads are much less dramatic when classifying WCDMA as an evolution of the GSM system. The total number of new subscribers in 2004-2009 is expected to be 777.7 million worldwide.
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