WiBro, the wireless broadband platform favored by South Korean operators and vendors, will become a prominent access technology not only for South Korean wireless Internet businesses but also in the global arena. KT and SK Telecom have been aggressively preparing to launch WiBro commercial services early next year. WiBro vendors and operators in South Korea are already making progress faster than the WiMAX camp in terms of specification and market scale. Conventional wisdom previously regarded WiBro as a local specification fulfilling Korean local conditions only, but it is gradually becoming accepted as a potential global specification, especially when WiBro provides interoperability with IEEE 802.16e. WiBro has been expanding its global presence. In July, the Japanese government, accepted WiBro along with mobile WiMAX as a next-generation broadband wireless standard candidate. In the meantime, WiBro with VoIP can offer lots of benefits in terms of economics and fast deployment for global operators. According to ABI Research senior analyst Andy Bae, "With Korean users' high demands for wireless multimedia services via the Internet, and KT's aggressive 'WiBro as Next Growth Engine' plan to compete with SK Telecom-backed HSDPA, WiBro in South Korea will be well-positioned." Nonetheless, terminal vendors should carefully examine users' preferences and market demands for applications, in accordance with service roadmaps.
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