Verizon launched its iobi service in the mid-Atlantic states. Customers can use the service to manage their communications via the Web, including handling of incoming calls in real time; managing call records, voice messages and calendars; synchronizing multiple electronic address books; and receiving a text message notice of an incoming call or new voice message. Iobi is driven by a Verizon-proprietary data platform that integrates the Verizon wireline network with other networks and with the Internet. It's also coupled with the unique Verizon One device and associated service bundle -- cordless phone, dsl modem and wireless router.
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