The banking and payments industry continues to be a hotbed of innovation owing to ever changing consumer expectations. The rapid technological developments in the areas of banking and payments that aim to offer seamless experience to consumers are now becoming even more vital for industry participants as competitors leverage new technologies such as artificial intelligence, Internet of Things, cybersecurity, and embedded finance as they compete to stay relevant and grow in the market. In the last three years alone, there have been over 92,000 patents filed and granted in the banking industry, according to GlobalData’s report on Innovation in Banking: content paywall.

However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilising and reaching maturity.

Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.

60+ innovations will shape the banking industry

According to GlobalData’s Technology Foresights, which plots the S-curve for the banking industry using innovation intensity models built on over 195,000 patents, there are 60+ innovation areas that will shape the future of the industry.

Within the emerging innovation stage, transaction-enabling smart contracts is a disruptive technology that is in the early stage of application and should be tracked closely. Distributed ledger network, BNPL payment protocols, and virtual banking assistant are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are IM trading platforms and in-app payments, which are now well established in the industry.

Innovation S-curve for the banking industry

Content paywall is a key innovation area in banking

Content paywall is a technique used by content providers to restrict access to online content. Users are allowed to view only limited content on a website with further access provided upon subscription.

GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 50 companies, spanning technology vendors, established banking companies, and up-and-coming start-ups engaged in the development and application of content paywall.

Key players in content paywall – a disruptive innovation in the banking industry

‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.

‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.

Patent volumes related to content paywall

Company Total patents (2010 - 2021) Premium intelligence on the world's largest companies
nChain Holdings 270 Unlock company profile
SoftBank Group 127 Unlock company profile
Pendrell 58 Unlock company profile
Intertrust Technologies 56 Unlock company profile
Dell Technologies 50 Unlock company profile
LG 34 Unlock company profile
Huawei Investment & Holding 34 Unlock company profile
International Business Machines 23 Unlock company profile
Mastercard 21 Unlock company profile
Coinbase Global 20 Unlock company profile
Xperi Holding 20 Unlock company profile
Intel 19 Unlock company profile
Sony Group 17 Unlock company profile
Global Tel*Link 16 Unlock company profile
Overstock.com 15 Unlock company profile
Digital Asset Holdings 15 Unlock company profile
Visa 14 Unlock company profile
Ballet Global 13 Unlock company profile
PayPal Holdings 13 Unlock company profile
Inveniam Capital Partners 13 Unlock company profile
Digimarc 13 Unlock company profile
Porsche Automobil Holding 12 Unlock company profile
Nokia 12 Unlock company profile
Microsoft 10 Unlock company profile
Beijing Electronics Holding 10 Unlock company profile
eBay 10 Unlock company profile
Ant Group 9 Unlock company profile
Universal Group 9 Unlock company profile
NEC 8 Unlock company profile
JPMorgan Chase 7 Unlock company profile
Shinhan Financial Group 7 Unlock company profile
Samsung Group 6 Unlock company profile
Diamond Standard 6 Unlock company profile
China Merchants Bank 6 Unlock company profile
Barclays 6 Unlock company profile
Corner Banca 6 Unlock company profile
Compellent Technologies 6 Unlock company profile
Walmart 6 Unlock company profile
Value-Added Communications 6 Unlock company profile
OX Labs 6 Unlock company profile
Wells Fargo 5 Unlock company profile
GMO Internet 5 Unlock company profile
Capital One Financial 5 Unlock company profile
Ngrave.IO 5 Unlock company profile
R3 5 Unlock company profile
MC Familiengesellschaft mbH 5 Unlock company profile
Biometric Blockchain 5 Unlock company profile
Coinplug 5 Unlock company profile
Tencent Holdings 5 Unlock company profile
CME Group 5 Unlock company profile

Source: GlobalData Patent Analytics

IBM is a leading patent filer in content paywall field. The company filed a patent for misinformative content mitigation in September 2021. It uses a computer-implemented method to provide free access to curated content (which is behind paywalls) to prevent the spreading of misinformative content.

In terms of application diversity, SoftBank leads the pack. PayPal and Coinbase Global stood in second and third positions, respectively. By means of geographic reach, eBay holds the top position, followed by nChain and LG.

To further understand the key themes and technologies disrupting the banking industry, access GlobalData’s latest thematic research report on Banking.

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.