According to The Diffusion Group, new research suggests that those classified as "home office workers" are neither homogenous nor early adopters as once believed. TDG's latest report reveals that while home business owners are more likely than others to subscribe to broadband and own a home network, they are not necessarily more likely to own or be interested in purchasing new media devices or services that do not have any obvious business application. Nearly one-third of self-employed home office workers own home networks, compared to 20 percent of other households. However, they are 19 percent less likely to be using wireless networking technology. "Home office workers include home business owners of many different types as well as full- and part-time telecommuters," says TDG. "In order to understand these consumers properly, it's important to make the right distinctions about the different subgroups included under the home office worker umbrella. By specifically targeting full-time home business owners in our study, we're getting a clearer picture of how this market segment actually works."
The Open Banking business model has been advantageous for Third-Party Providers (TPPs), helping them to extend their offerings into other areas of financial services with new capabilities. Open Banking is also advantageous for traditional banking institutions, despite the perceived loss of custodianship over their data, by providing greater accessibility to more bank services. Furthermore, Open Banking can help serve Mobile Internet providers that are able to leverage it to create tailored services according to customers’ preferences and/or economic limitations. Open Banking Market Development Since traditional banking services are made more convenient by TPPs via greater data access, customers can proactively manage their finances and shape the development of new financial offerings. This is particularly noticeable in the realm of Digital Payments, where retail merchants and customers transact through eCommerce, which has the greatest number of use cases for Open Banking. These includ