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 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