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 Cloud in Banking: real-time bidding. Buy the report here.

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.

Virtual banking assistant, real-time bidding, and digital lending are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are wireless services subscription billing and targeted marketing platforms, which are now well established in the industry.

Innovation S-curve for cloud in the banking industry

Real-time bidding is a key innovation area in cloud

Real-time bidding (RTB) is an automated process that enables purchase and sale of digital ads online. The process is completed in less than a second.

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 real-time bidding.

Key players in real-time bidding – 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 real-time bidding

Company Total patents (2010 - 2022) Premium intelligence on the world's largest companies
Trading Technologies International 177 Unlock Company Profile
eBay 147 Unlock Company Profile
BGC Partners 123 Unlock Company Profile
Givewith 80 Unlock Company Profile
PayPal Holdings 47 Unlock Company Profile
IEX Group 45 Unlock Company Profile
International Business Machines 34 Unlock Company Profile
Intercontinental Exchange 32 Unlock Company Profile
Verizon Communications 32 Unlock Company Profile
Cfph 31 Unlock Company Profile
Alphabet 27 Unlock Company Profile
Qualcomm 22 Unlock Company Profile
SAP 22 Unlock Company Profile
Nasdaq 20 Unlock Company Profile
Microsoft 19 Unlock Company Profile
SoftBank Group 17 Unlock Company Profile
Commerce Signals 17 Unlock Company Profile
Booking Holdings 17 Unlock Company Profile 16 Unlock Company Profile
Virtu Financial 16 Unlock Company Profile
WorldOne Research 13 Unlock Company Profile
Live Nation Entertainment 13 Unlock Company Profile
CME Group 12 Unlock Company Profile
AT&T 12 Unlock Company Profile
Accenture 12 Unlock Company Profile
Lucara Diamond 11 Unlock Company Profile
Mastercard 11 Unlock Company Profile
Automattic 11 Unlock Company Profile
Tata Sons Pvt 10 Unlock Company Profile
Sensity Systems 10 Unlock Company Profile
ICE Data Derivatives 10 Unlock Company Profile
UBS Group 9 Unlock Company Profile
DriveWealth 9 Unlock Company Profile
Cboe Global Markets 9 Unlock Company Profile
Verizon Media 9 Unlock Company Profile
Meta Platforms 9 Unlock Company Profile
Jaggaer 9 Unlock Company Profile
Tencent Holdings 8 Unlock Company Profile
JPMorgan Chase 8 Unlock Company Profile
Volt Information Sciences 8 Unlock Company Profile
Consolidated Edison 8 Unlock Company Profile
Exelon 8 Unlock Company Profile
ADOBE 8 Unlock Company Profile
FirstEnergy 8 Unlock Company Profile
Public Service Enterprise Group 8 Unlock Company Profile
Pollen 7 Unlock Company Profile
CHICAGO STOCK EXCHANGE 7 Unlock Company Profile
Oracle 7 Unlock Company Profile
GTCR 7 Unlock Company Profile
Panasonic 7 Unlock Company Profile

Source: GlobalData Patent Analytics

BGC Partners is one of the leading patent filers in the RTB space. The company has a patent for implementing an automated auction process that is held at a designated time on the internet, and that ends after bidding has been completed. Some other key patent filers in this space include Trading Technologies, eBay, Givewith, PayPal, and IEX Group.

In terms of application diversity, IBM leads the pack, while IEX Group and Tencent stood in the second and third positions, respectively. By means of geographic reach, Sensity System holds the top position, followed by Meta Platforms and Lucara Diamond. 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.