The number of U.S. wireless subscribers with compatible handsets who played games on their cell phones increased from 20 percent last year to 27 percent in 2005, according to a survey of 8,500 subscribers conducted by market research firm NPD Group. However, only one-third of these mobile gamers actually purchased game downloads; the rest played free games or titles that came pre-loaded on their phones. The most common motivation cited among respondents for playing mobile games was "to kill time or alleviate boredom," with the average gaming session lasting 11 minutes. The survey found more kids between the ages of 13 and 17 (60 percent) said they played mobile games than did adults (23 percent), while mobile gamers were twice as likely to be African-American, Hispanic or Asian. "The world of mobile gaming is like the Wild West," said NPD Group vice president Clint Wheelock. "In this time of rapid growth, and with the industry in such a formative stage, it's especially important for wireless operators and game publishers to understand the mindsets of mobile gamers, in order to best position themselves for long-term success."
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