In the wake of a landmark Supreme Court ruling that found peer-to-peer software providers ultimately culpable for the copyright infringement committed by their users, the Recording Industry Association of America (RIAA) has sent cease-and-desist letters to seven file-sharing software firms, demanding that they stop "enabling and inducing" copyright infringement, The Wall Street Journal reported. The RIAA would not identify which companies received the letters, although The Journal reported that BearShare, WinMX and LimeWire were recipients. The Supreme Court ruling directly affected defendants Grokster and StreamCast Networks (Morpheus). Other big-name file-sharing firms include Kazaa, eDonkey and BitTorrent. "We demand that you immediately cease-and-desist from enabling and inducing the infringement of RIAA member sound recordings. If you wish to discuss pre-litigation resolution of these claims against you, please contact us immediately," reads a copy of the RIAA letter obtained by CNET News.com
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