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 Cybersecurity in banking: tokenized asset management. 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 stabilizing 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.

30+ 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 165,000 patents, there are 30+ innovation areas that will shape the future of the industry.

Within the emerging innovation stage, distributed ledger transactions, is a disruptive technology that is in the early stages of application and should be tracked closely. Voice-based authentication, geofenced transactions, and embedded secure elements are some of the accelerating innovation areas, where adoption has been steadily increasing.

Innovation S-curve for cybersecurity in the banking industry

Tokenized asset management is a key innovation area in cybersecurity

Tokenized asset management refers to the process of managing and investing in assets that are represented on a blockchain through tokens. These tokens can be traded and transferred without the need for intermediaries, creating a more efficient and accessible investment ecosystem.

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 150 companies, spanning technology vendors, established banking companies, and up-and-coming start-ups engaged in the development and application of tokenized asset management.

Key players in tokenized asset management – 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 tokenized asset management

Company Total patents (2010 - 2022) Premium intelligence on the world's largest companies
nChain 357 Unlock Company Profile
Fidelio Acquisition 109 Unlock Company Profile
Alibaba Group 96 Unlock Company Profile
Pendrell 64 Unlock Company Profile
Dell Technologies 54 Unlock Company Profile
Advanced New Technologies 38 Unlock Company Profile
Huawei Investment & Holding 37 Unlock Company Profile
Mastercard 35 Unlock Company Profile
LG 34 Unlock Company Profile
New York Digital Investment Group 32 Unlock Company Profile
Inveniam Capital Partners 30 Unlock Company Profile
Adeia 26 Unlock Company Profile
Intel 25 Unlock Company Profile
International Business Machines 25 Unlock Company Profile 24 Unlock Company Profile
Coinbase Global 22 Unlock Company Profile
Sony Group 18 Unlock Company Profile
eBay 18 Unlock Company Profile
Global Tel*Link 16 Unlock Company Profile
Visa 16 Unlock Company Profile
PayPal 15 Unlock Company Profile
Ant Group 15 Unlock Company Profile
Digital Asset 14 Unlock Company Profile
Digimarc 13 Unlock Company Profile
Nokia 13 Unlock Company Profile
Microsoft 13 Unlock Company Profile
Samsung Group 12 Unlock Company Profile
Porsche Automobil 12 Unlock Company Profile
Ballet Global 12 Unlock Company Profile
Algorand 11 Unlock Company Profile
NEC 10 Unlock Company Profile
Beijing Electronics 10 Unlock Company Profile
Wells Fargo 9 Unlock Company Profile
The Universal Group 9 Unlock Company Profile
Equity Shift 9 Unlock Company Profile
Biometric Blockchain 9 Unlock Company Profile
Tencent 8 Unlock Company Profile
JPMorgan Chase 8 Unlock Company Profile
Diamond Standard 8 Unlock Company Profile
Baidu 7 Unlock Company Profile
Securrency 7 Unlock Company Profile
Cboe Global Markets 7 Unlock Company Profile
CME Group 7 Unlock Company Profile
Walmart 7 Unlock Company Profile
MC Familiengesellschaft 7 Unlock Company Profile
Royal Bank of Canada 7 Unlock Company Profile
Shinhan Financial Group 7 Unlock Company Profile
R3 7 Unlock Company Profile
Audible Magic 7 Unlock Company Profile
SoftBank Group 6 Unlock Company Profile

Source: GlobalData Patent Analytics

Among the companies innovating in tokenized asset management, nChain is one of the leading patent filers. Asset Trade, for example, is a blockchain-enabled digital asset ledger and trade solution provided by nChain to tokenize fiat currencies, physical commodities and other assets and trade them in real time using maintainable exchange rates across different organizations and institutions. Fidelio Acquisition, Alibaba, and Pendrell are some of the other prominent patent filers in the tokenized asset management space.

In terms of application diversity, Digimarc held the top position, while Adeia and Audible Magic stood in second and third positions, respectively. By means of geographic reach, Dell Technologies leads the pack, followed by Inveniam Capital Partners and nChain.

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