The recording and motion picture industries' major trade groups announced that they have become corporate members of Internet2, the ultra high-speed private Internet used by the research and higher education community. The Motion Picture Association of America (MPAA) and Recording Industry Association of America (RIAA) will "collaborate with the Internet2 community to consider innovative content distribution and digital rights management technologies, and to study emerging trends on high-performance networks to enable future business models." The groups have previously criticized Internet2, which is available at over 200 universities, for its allowance of lightning quick file-sharing by university students and others on the network via a program called i2hub. The RIAA has also taken the step of suing 33 Internet2 file-swappers for copyright infringement. "The movie industry is committed to working with the technology sector to find innovative new ways to deliver entertainment to consumers. The MPAA views this partnership with Internet2 as an important opportunity for collaboration as we seek to link new delivery models with content protection," said MPAA president Dan Glickman.
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