The banking industry continues to be a hotbed of patent innovation. Activity is driven by digitalization, enhanced security, operational efficiency, ever changing consumer expectations, and growing importance of technologies such as artificial intelligence (AI), Internet of Things (IoT), and cybersecurity. In the last three years alone, there have been over 129,000 patents filed and granted in the banking industry, according to GlobalData’s report on Cloud in banking: e-transaction user interfaces. Buy the report here.

According to GlobalData’s Technology Foresights, which uses over 165,000 patents to analyze innovation intensity for the banking industry, there are 30+ innovation areas that will shape the future of the industry.

e-transaction user interfaces is a key innovation area in cloud

e-transaction user interfaces refer to the graphical user interfaces (GUIs) and methods used for conducting electronic transactions. These interfaces provide a user-friendly experience and enable users to perform various actions such as selecting payers/payees, specifying transaction amounts and funding sources, managing transfers, and displaying relevant information.

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 180+ companies, spanning technology vendors, established banking companies, and up-and-coming start-ups engaged in the development and application of e-transaction user interfaces.

Key players in e-transaction user interfaces – a disruptive innovation in the banking industry

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

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

Patent volumes related to e-transaction user interfaces

Company Total patents (2010 - 2022) Premium intelligence on the world's largest companies
Licentia Group 350 Unlock Company Profile
Seiko Epson 260 Unlock Company Profile
Intel 258 Unlock Company Profile
Memjet Technology 209 Unlock Company Profile
Alibaba Group 183 Unlock Company Profile
Flexiworld Technologies 169 Unlock Company Profile
Apple 149 Unlock Company Profile
Toshiba 104 Unlock Company Profile
LG 95 Unlock Company Profile
Samsung Group 95 Unlock Company Profile
Alphabet 73 Unlock Company Profile
Canon 65 Unlock Company Profile
Huawei Investment & Holding 59 Unlock Company Profile
West View Research 56 Unlock Company Profile
HP 53 Unlock Company Profile
The Toronto-Dominion Bank 46 Unlock Company Profile
Advanced New Technologies 39 Unlock Company Profile
Hewlett Packard Enterprise 38 Unlock Company Profile
Fujifilm 37 Unlock Company Profile
PayPal 35 Unlock Company Profile
Sony Group 34 Unlock Company Profile
Groupon 28 Unlock Company Profile
Liberty Media 27 Unlock Company Profile
VeriFone 24 Unlock Company Profile
Wells Fargo 24 Unlock Company Profile
Sharp 24 Unlock Company Profile
Canadian National Railway 24 Unlock Company Profile
Emerging Automotive 24 Unlock Company Profile
SNPLab 22 Unlock Company Profile
Panasonic 22 Unlock Company Profile
Kyocera 21 Unlock Company Profile
AB Dynamics 21 Unlock Company Profile
Rambus 20 Unlock Company Profile
Aq 20 Unlock Company Profile
Visa 19 Unlock Company Profile
Atom Tickets 19 Unlock Company Profile
SoftBank Group 18 Unlock Company Profile
Tencent 17 Unlock Company Profile
eBay 17 Unlock Company Profile
Brother Industries 17 Unlock Company Profile
Bank of America 17 Unlock Company Profile
Block 17 Unlock Company Profile
Konica Minolta 16 Unlock Company Profile
Mastercard 16 Unlock Company Profile
Capital One Financial 15 Unlock Company Profile
Wacom 14 Unlock Company Profile
Xiaomi 14 Unlock Company Profile
TouchTunes Music 13 Unlock Company Profile
AlphaPoint 13 Unlock Company Profile
Ant Group 12 Unlock Company Profile

Source: GlobalData Patent Analytics

Among the companies innovating in e-transaction user interfaces, Licentia Group is one of the leading patent filers. Licentia Group is an intellectual property (IP) licensing and technology services provider based in the UK. It has filed several patents related to advanced user verification, authentication, and approval procedures and systems. Seiko Epson, Intel, and Memjet Technology are some of the other leading innovators in the e-transaction user interfaces space.

In terms of application diversity, Alphabet held the top position, while Canadian National Railway and Toshiba stood in second and third positions, respectively. By means of geographic reach, Licentia Group leads the pack, followed by Intel and West View Research.

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

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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.