Internet-based telephone services are slowly replacing traditional landline phone services, according to a new study by Telephia. Of households already subscribing to Internet telephony services, 53 percent of those considered "high-tech" -- subscribing to at least three emerging services such as satellite radio, video-on-demand and broadband -- have now disconnected their landline phones. Those surveyed identified savings on phone calls as the main factor in making the switch. "Cost savings and seamless integration of different communication services provide a compelling one-two punch for Internet telephony," said Kanishka Agarwal, the vice president of new products at Telephia. Of the households surveyed who have not yet disconnected their landlines, most cited their availability during a power outage as the main reason. More than a third also cited the importance of keeping their current phone numbers.
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