Digital Lifescapes

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...

Airbnb did it to the hospitality industry. Then, Uber did it to taxi services. Now driverless cars are going to totally disrupt the whole automotive industry, propelling car sharing services forward as the ultimate, mainstream transportation mode. This new car sharing economy is already well in motion. According to the latest worldwide market study by ABI Research, they are forecasting that 400 million people will rely on robotic car sharing by 2030. "The new car sharing economy happens in three phases: street rental service, ride sharing service, and robotic service," says Dominique Bonte, vice president at ABI Research . "The automotive industry is in the process of merging phases one and two, with robotic service to become the ultimate form of transportation for its availability, convenience, and affordability." The Sharing Economy in Action Zipcar, the world's largest car sharing and car club service, is a prime example of street rental service. Inte...