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 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