BT Global Services, BT Group PLC's information technology services division, will reorganize its global workforce around vertical market segments, such as financial services, pharmacueticals and government. In doing this, BT is seeking to use the industrial and technological expertise it gains servicing one client across other major multinational customers in the sectors it supports. In an interview with Dow Jones Newswires, Andy Green, head of BT Global Services said; "The importance of this reorganization will become obvious next year. There will be quite a lot more activity toward segmentation." He added; "Developing specialist industry practices will enable our global sales teams to apply greater industry knowledge and insight to discussions with their customers, helping to identify and solve business issues. It's a win-win situation." BT Global Services is already organized around customer segment in the U.K. Elsewhere it doesn't currently operate its workforce by segment. It is common for IT services companies to organize their operations around vertical market segments such as telecoms, finanical services or utilities, in order to leverage knowledge gained servicing one client across its customers in the sector.
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