Analyzing Fintech Patents – Latest Blockchain and Fintech Patent Examples (2024)

Blockchain technology, which combines hardware and electronicssoftware, and cryptography, is changing the way global transactions are handled. It removes friction between transacting parties and sometimes eliminates the need for an intermediary.

Innovation And Patents In The Blockchain And Fintech Industry

Blockchain technology is being used by a wide range of industries, from healthcare to banking, to manage supply chains, to credential healthcare professionals, and many other uses.

Fintech (financial technology) covers certain uses of blockchain technology (such as cryptocurrencies), but it encompasses more than just blockchain-based solutions. This includes patented apps that provide for mobile banking technology, investing services, and “smart card technology” for secure payments.

The Fintech industry is characterized by the convergence of software, hardware, and digital security technology and as such, the principles behind patenting technology and strategies for protecting intellectual property relating to technology remain the same.

Blockchain Patents – Are Blockchain Backed Technologies Patentable?

The European Patent Office (EPO), is looking into the possibility of patentability for blockchain-backed technologies. EPO officials expressed their desire to grant patents legal and secure blockchain technology at a previous EPO blockchain conference. They stressed the need to consider blockchain inventions as computer-implemented inventions (CII), and have developed stable criteria to determine patentability of CII. The EPO also broke down blockchain patent applications into two categories: CII or blockchain.

CII inventions include a mix of technical and non-technical elements. This must be considered by the examiner when classifying a claim. A mathematical step, for example, may not be technical but has a technical effect when viewed in the context of an invention.

As layer 1 networks developed and more people become familiar with blockchain technology, patent activity in the crypto industry has increased. Patent-worthy solutions that increase efficiency, scalability and usability will be developed as blockchain technology becomes more popular. Further innovation is expected due to increasing regulatory pressures on cryptocurrency businesses. Crypto companies will need to develop solutions that are natively digital and decentralized in order to comply with regulations and remain competitive.

Patentable innovations in cryptocurrency technology face unique challenges because they are decentralized systems. The technology must be original and not obvious. This requires an in-depth knowledge of the technology and industry. An application should not place too much emphasis on financial transactions and economics. The patent should instead contain a detailed description. Expert technical knowledge of blockchain operation is necessary to be able effectively discuss the solution.

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Protecting Your Blockchain And Fintech Patents

Many innovators working in the fintech and blockchain sectors believe their inventions are not eligible to be protected by patents or other IP protection. This is a false assumption.

It is possible to protect algorithm-driven technical innovation and allow innovators freedom of operation as they build businesses on it. In fact, we at PatentPC have done it numerous times. (Check our testimonials).

Key point to note when patenting a Fintech and Blockchain innovation, is that you should be focused on solving the challenges related to Section 101 subject matter eligibility and optimizing intellectual property used to increase shareholder value.

Since most fintech and blockchain innovation relate to software patents, the best way to approach would be from the angle of patenting a software innovation.

Patents for FinTech Software

FinTech is a rapidly growing industry that is seeing significant disruption and churn. Existing companies and start-ups are competing more frequently to provide better customer service. Patent filing is therefore essential for FinTech software given that number and scope of AI-related Fintech applications is growing rapidly. In developing fintech, financial institutions should most definitely consider patents as this will prevent their technology being copied or modified without their consent.

However it can be difficult to file a patent application for this software as it is important to clearly define the invention. Subject matter objections can result if an innovation is not properly identified.

Patent Strategy

However, it is not easy to get a patent. It takes support from key stakeholders to develop a strong patent strategy. Understanding the technology landscape is key to preparing a successful strategy for patenting. This will give you an overview of the technology landscape and help you identify gaps in your research. This also requires continuous effort. This strategy can add value to your company, foster innovation and protect its intellectual properties.

Prior Art

A prior art search is another step to prepare a patent application. To determine if your invention is new and innovative, you should search for relevant prior art. This can help you to identify potential infringements and define your claims scope. A prior art search can also help you to identify specific functionality or features.

It is important to note that the large amount of prior art can be a challenge when applying for a fintech patent. Patent examiners can use both patent and non-patent references to assess the applicability. This can cause delays in patent acquisitions and discourage stakeholders.

Industry Standards

Your product must meet industry standards in order to be eligible for a FinTech Patent. These industry standards include better network security for financial transactions, a new interface and more efficient use of computer resources. The product should improve the reliability and speed of network traffic. You should also consult an expert to ensure your invention meets these requirements.

FinTech patents can be a great way for you to protect your innovations. You can trademark financial service technology in addition to getting a patent. These rights must be renewed regularly given that the patent landscape is constantly changing. This way you can keep your invention protected and prevent others from copying it.

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Fintech Innovations In 2023

If you’ve been following the news, you know that a whole host of innovative new technologies are on their way. These innovations range from Artificial Intelligence to Embedded Finance to Metaverse. It’s time to consider how they will change the way we work, interact with other people and do business in the coming years.

Embedded finance

The embedded finance and fintech innovations in 2023 will have a big impact on the way consumers interact with financial services. It will also provide companies with a more direct path to engage with their customers on a personal level. In the past, businesses had to turn to third-party providers to offer customers access to financial services. This is no longer the case. As a result, this technology is expected to be one of the most important and significant trends in the industry.

Embedded finance allows financial institutions to deliver a range of benefits, such as increased efficiencies and cost reductions. The technology also promises to improve the user experience and enable new revenue streams.

One of the most popular embedded finance companies is Stripe. Another is Amazon, which uses the technology to power its Amazon Pay service. These examples are just a few of the many applications of the tech.

The adoption of this technology will lead to a number of other fintech innovations in 2023. For example, payments will become much faster and convenient. Companies will also be able to increase customer loyalty and satisfaction through this technology.

The adoption of this technology will also benefit underserved consumer groups. This will have a multiplier effect on all industries.

The emergence of Banking-as-a-Service will also help legacy players to create unique offerings. This will allow financial institutions to focus on their core products while leveraging new technologies and capabilities. By offering a more personalized customer experience, these products will boost sales and build customer loyalty.

Although embedded finance has been around for a while, it is gaining momentum rapidly. By 2023, it will be among the top three most important fintech innovations. Several banks are already working to integrate their services into third-party platforms.

However, a number of challenges still stand in the way of achieving a high level of integration. Integrations are costly and complex to develop and maintain.

As a result, companies will have to get the most value for their customers while staying lean and profitable. Many of the best ideas will come from companies that have cross-sector collaboration.

B2B payments

The B2B payments industry is in the midst of an exciting era of innovation and growth. Fintech companies are revolutionizing how people invest and transact. They have created new ways for banks to work with consumers and businesses. These innovations include mobile wallets, mobile and online payment solutions, and secure identity verification technologies.

Businesses around the world are making the shift to a cashless economy, and this trend is accelerating. In the U.S. alone, B2B payments are expected to grow at a 10.8% CAGR through 2023, according to research firm Straits Research.

Payments innovation includes the emergence of digital wallets and digital checks. These technologies can be used to speed up payments and streamline operations. Digital checks, for example, allow for rapid payments to suppliers.

Another key innovation in the payments space is real-time payment systems. This means that a company can route payments to a single point of contact, reducing the number of failed transactions. As well as saving time, these technologies can also improve cost savings.

As more companies move to real-time systems, the need for payment integration will become increasingly important. By bundling payments with a product or service, companies are able to realise process efficiencies, while ensuring that they are aligned with their overall business areas.

The need for sustainable measures is also growing. Companies need to consider their own processes and make changes to ensure that they are environmentally responsible. To do this, they can use payment providers to help them make green buying decisions.

Embedded payments will continue to be a hot topic in the payments industry. Business software providers are beginning to integrate payment solutions into their systems. When integrated, these solutions will be easier to manage and will remove unnecessary processes from the back-office.

Real-time fraud detection is another key innovation in the payments space. By confirming suspicious transactions in real-time, companies can increase confidence in e-commerce purchases. Using AI to identify and report suspicious transactions can also increase security.

Despite these innovations, there are still a number of challenges for companies in the industry. For example, manual payment methods can be inefficient and expose companies to security risks. Similarly, executives at many companies do not have the resources to make sweeping changes to their practices.


The Metaverse is a new virtual reality utopia that is slowly but surely evolving. It is a combination of technology, including augmented and virtual reality, and it offers a bridge between the digital and physical worlds.

The technologies enabling the Metaverse have a lot of promise. In fact, a recent report by Citibank predicts that the total market could be worth $13 trillion by 2030.

This is a huge opportunity for financial firms. They can enter the Metaverse to improve customer experience. Some examples include virtual trading floors and branches. These will allow consumers to manage their finances and access insurance schemes.

Brands have also begun exploring the marketing potential of the Metaverse. Restaurant operators can virtually try out different restaurant configurations and retail stores can sell virtual replicas of physical products.

Manufacturers can also use Metaverse data to improve their supply chains. Retailers will be able to use this information to provide better products and services to consumers.

Banks will have a strong opportunity to lead the Metaverse. They can launch virtual investment spaces and virtual trading floors to engage customers and attract Gen Z investors.

Companies should prioritize learning about Metaverses and preparing for them. They must also consider security and privacy implications. Managing transactions in the metaverse will be essential to making it as realistic as the real world.

As the technology develops, developers will be able to render virtual worlds more effectively. AI and machine learning will increase the accuracy of user experiences. However, the number of users that will be able to interact with the Metaverse is uncertain.

While the impact of the Metaverse on the economy is enormous, it will not be instant. It will take years to see a true impact. Those companies that are brave enough to make the transition will reap the rewards.

Fintech solutions are already changing the way people make transactions in the real world. Many consumers are now relying on fintech solutions for their everyday financial needs. Therefore, it is essential to prepare for the Metaverse before it takes off.

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Artificial intelligence is one of the most important factors driving the fintech innovation market. The global AI industry is expected to reach a market size of $27 billion by 2026. In the fintech space, artificial intelligence is being used to enhance customer experience, boost security and improve loan management.

Many banks are now using AI to tackle fraud. Fraud is a major problem in the finance industry, with an estimated 56 billion dollars lost in 2020. Banks must ramp up their fraud detection efforts to prevent fraud. Thankfully, artificial intelligence has a lot to offer.

Machine learning and facial recognition are two examples of AI technologies that help banks detect suspicious activities. They can also provide personalized recommendations. A machine learning model will be able to process large data sets, identifying hidden patterns and detecting suspicious activity.

Other fintech applications include robo-advisors. These AI-powered chatbots help banking institutions grow their customer base. They can handle typical user issues, such as finding out about duplicate charges, bill reminders and even balance search.

FinTech companies are responding to consumer demand for a more personalized experience. This includes offering apps that enable customers to monitor their budget and make financial plans. Using an AI-powered approach, Bank of America’s app offers a customized approach to each customer.

Artificial intelligence is not only beneficial for the financial industry, but for all industries. It provides valuable insights and helps banks overcome challenges. By using AI, banks are able to reduce data entry and automate many clerical tasks.

In addition to machine learning, many banks are turning to AI for fraud analysis. A well-trained algorithm is as effective as a human analyst, and can spot and respond to fraudulent activity before it occurs.

AI is also being applied to back-office operations, such as credit scoring. A machine learning model can organize large data sets and resolve disputes.

Lastly, banks are shifting towards a more self-healing infrastructure. This requires automation and cultural change on both sides of the bank. For example, banks have begun automating IT tickets when their mobile banking app goes down.

Fintech Trends We See Happening, in 2024

  1. The fintech industry has experienced significant growth, with consumers using fintech apps more than ever before, particularly since the pandemic’s onset. This trend is driven by 55% of consumers finding that fintech apps help them navigate economic challenges, leading to an increase in the number of fintech apps used for financial management.
  2. Fintech apps have become crucial during economic downturns, with 56% of people turning to digital financial tools for better money management. This reliance underscores fintech’s role in providing financial stability and support during uncertain economic times.
  3. Payment technologies are evolving, with peer-to-peer (P2P) bank account payments and the FedNow service expanding options for real-time payments. The growth in real-time payment systems is expected to increase significantly, normalizing these new payment methods alongside traditional ones like credit cards.
  4. Alternatives to credit scores are emerging, offering a more complete picture of financial health using data such as cash flow and utility bills. These new methods, supported by API-based fintech tools, aim to improve loan access for millions, including those traditionally excluded due to lack of a conventional credit score.
  5. The use of bank payments is on the rise, with significant growth in transactions processed through instant payment rails like FedNow and RTP. This trend reflects a growing consumer preference for bank payments over traditional credit and debit card options.
  6. The closure of Mint has created opportunities for innovation in personal financial management, leading to the development of personal financial enablement (PFE) apps. These new apps offer a broader range of services, from robo-advising to online mortgage lending.
  7. Financial identity fraud is increasing, but advancements in identity verification technologies are enhancing security. Tools like Plaid Identity Verification and the Plaid Beacon anti-fraud network are pivotal in combating fraudulent activities and protecting consumer information.
  8. Loan demand is rebounding as credit card debt rises and student loans are reinstated, with personal and buy-now-pay-later loans showing significant growth. This trend is expected to continue as interest rates stabilize and borrowing becomes more attractive.
  9. Artificial intelligence (AI) is set to transform the fintech industry, with a majority of organizations adopting AI technologies. Consumers anticipate AI will revolutionize money management by offering personalized financial advice and automating services.
  10. While traditional investing remains popular among consumers, interest in cryptocurrencies is cooling due to economic uncertainties. However, the crypto market still holds appeal due to its low entry barriers and the development of more secure investment platforms.

Is Cryptocurrency Patentable?

Obtaining patent protection for cryptocurrency is not an immediately easy thing. This is because one of the biggest challenges facing patent protection for cryptocurrency is the question of subject matter. It is important to demonstrate that cryptocurrency is not an abstract idea.

As a general principle, patent protection is not available for many abstract ideas. The USPTO maintains a list of “abstract” ideas and these can include methods of organizing human activity and commercial interactions. Therefore a cryptocurrency patent application must of necessity include an application that solves real-world problems. This is the only way to demonstrate that it is not an abstract idea.

Like any invention, cryptocurrency patents need to demonstrate an original improvement over the prior art. This innovation must not be obvious or new. An application might be rejected if the prior art is already overcrowded. This could be because it is not unique or obvious. To overcome this, applicants must give a detailed description of their invention.

A few other factors should be taken into consideration, in addition to the larger question of whether cryptocurrency can be patentable. First, Bitcoin was created using open-source software. This means that patents can be filed in multiple jurisdictions for non-obvious innovations in existing blockchain technologies. The patent will also protect competitors from copying the claimed technique.

Second, cryptocurrency patents should cover technology bridges. It can be used in multiple industries depending on how it works. Multiple techniques should be protected in a successful application. Patent drafting should reflect cryptocurrency’s decentralized nature. It should also reflect the expectation that competing entities will control cryptography.

Patentability may be granted if the invention is an improvement on the existing protocol. The improvement must be greater than the original idea. This could include significant add-ons like increased security, better configuration, or added nodes to a chain. It is also difficult to file a claim against multiple entities when pursuing a blockchain patent. This patent must be written by an expert to gain traction.

The number of patent applications has increased significantly since the advent of cryptocurrency in recent years. While no one has been able to enforce a blockchain patent yet, it appears that it is an option. Blockchain technology uses distributed computer technology and encryption to protect data on a distributed network. This technology provides users with trustworthy value at a low price. The Chinese government encourages academia and industry to develop blockchain technology and file patent applications. Tencent and Alibaba are two of the most prominent blockchain patent application vendors.

Blockchain patents could prove to be valuable in a variety of industries. A blockchain could be used to verify ownership or to prove that contracts are valid. It can be difficult to file a blockchain patent application. A good idea is to consult an experienced patent attorney.

It can be difficult to get a blockchain patent, especially since the technology is open-source. A patent-holder can still secure a blockchain patent. The number of applications for blockchain technology will increase every year, according to the forecast.

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Patenting Considerations For Blockchain, Crypto, And Fintech

Patenting considerations for blockchain, crypto, and fintech companies can be complex and multifaceted. Here are a few important things to keep in mind:

  1. Timing: Blockchain, crypto, and fintech technologies are rapidly evolving, so it’s important to file for patents as early as possible to ensure that the company has the strongest possible patent portfolio.
  2. Jurisdiction: The patentability of blockchain, crypto, and fintech technologies can vary widely depending on the country in which the patent is filed. It is important to understand the patent laws in different jurisdictions and to file patents in countries where the technology is most likely to be protected.
  3. Open-source nature: Blockchain and crypto technologies are open-source, and thus it is important to understand the implications of open-sourcing a technology before filing for a patent.
  4. Patentability: It’s important to ensure that the technology being patented is novel and non-obvious, and that it’s not simply an abstract idea or mathematical algorithm.
  5. Costs: Patents can be expensive to obtain and maintain, so it’s important for companies to carefully consider the costs and benefits of patenting their technology.
  6. Licensing and litigation: Once a patent is granted, companies have the option to license the technology to others or to assert their patent rights in court. It’s important for companies to consider these options and to have a plan in place for how to leverage their patents.
  7. Clear and concise description: The patent application needs to be described in a clear and concise manner, to make it easy for the patent office to understand the invention and its novelty.

Yet another issue to consider is Alice’s impact on blockchain/fintech as patentable subject-matter. Alice (Alice Corporation v. CLS Bank International) is a 2014 Supreme Court case that established a two-part test for determining whether a software-related invention is eligible for a patent under 35 U.S.C. § 101. The test is used to determine whether a software-related invention is a patent-eligible “abstract idea” or a “significantly more” invention.

When considering patents for blockchain or fintech technology, it’s important to keep in mind the Alice test and how it may impact the patentability of the invention. Here are a few things to consider:

  1. Is the invention an abstract idea? Under Alice, an invention that is simply an abstract idea, such as a method of organizing human activity or a fundamental economic practice, is not eligible for a patent.
  2. Is the invention “significantly more” than an abstract idea? If the invention is more than an abstract idea, it is considered patent-eligible. For example, a specific application of blockchain technology that solves a technical problem in a new and non-obvious way may be considered “significantly more” than an abstract idea.
  3. Is the invention tied to a specific practical application? The court in Alice stated that an abstract idea is not transformed into a patent-eligible invention simply by being implemented on a computer or through the use of technology. Therefore, it is important to describe how the invention is tied to a specific practical application.
  4. Is the invention tied to a specific hardware or software? The court in Alice stated that an abstract idea is not transformed into a patent-eligible invention simply by being tied to a specific hardware or software. Therefore, it is important to describe how the invention is tied to a specific hardware or software.
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Defensive And Offensive Patenting Considerations For Fintech Or Blockchain Companies

Defensive patenting is the process of obtaining patents on inventions to prevent others from patenting them and potentially suing for infringement. For fintech or blockchain companies, this may include patenting innovative financial products, services, or technologies that they have developed.

Offensive patenting, on the other hand, is the process of obtaining patents with the intention of using them to assert against others. For fintech or blockchain companies, this may include patenting technology or methodologies that may be used by their competitors in the space.

It’s important for fintech and blockchain companies to consider both defensive and offensive patenting strategies, as patents can provide a significant competitive advantage and can also serve as a source of revenue through licensing or litigation.

However, it’s important to keep in mind that patenting can be a costly and time-consuming process, and there is no guarantee that a patent will ultimately be granted. Additionally, patenting may not be the best strategy for open-source projects as it goes against the nature of open-source.

Overall, it is important to consult with a patent attorney or agent who has experience in the blockchain and fintech space and understands the Alice test, to help navigate these complex considerations and to ensure that the company’s patent application(s) are as strong as possible.

Blockchain and Cryptocurrency Patent Examples From Top Companies

Patents are crucial for any company’s success. A blockchain project is not an exception to the rule. Proper intellectual property management and due diligence are essential for any blockchain project.

Many top companies have patents for their blockchain and cryptocurrency technology. These companies have patents on a variety of blockchain and cryptocurrency technology. Some types of transactions were also patentable by these companies. Many types of transactions have been patented by these companies, including the storage and sending of digital currencies and their trading.

Alibaba and IBM are the leading vendors of blockchain patents. Alibaba leads the world in filings with a total of 83, while IBM trails behind with 89. MasterCard is third with 80 filings and Bank of America is fourth with 53.

The patenting of blockchain technology is also a major interest for banks, which is why most blockchain patent applications are filed by banks. Goldman Sachs and Bank of America are some of the key players. Mastercard is another. While other international entities have also filed patent applications for their technology, most of these are from Chinese companies.

Blockchain can also be used in many ways to manage supply chains. This area has several patents, including two issued by SkuChain, Inc., a company that accepts bitcoin for online betting. Health records are another industry that could benefit from blockchain technology. Q Bio, Inc. filed a patent to enable the use of Blockchain-based electronic medical records. It has patented a method for replacing a patient’s medical record with a new one.

Like other areas of patent filings, companies involved with blockchain may be specialized in a particular industry or specialize in a certain area. IBM, for example, filed several blockchain patent applications in 2017. Ping An and Advanced New Technologies are just a few of the other companies that have filed patent applications.

Searching the Internet for similar patent applications can also help you find high-quality, blockchain patents. Although there are many companies that have filed patent applications you can limit your search by searching key terms. Next, narrow your search by using the International Patent Classification. You can eliminate patent applications without “blockchain” and those that are not classified in another IPC.

The blockchain space is quickly becoming more popular. The increasing popularity of blockchain technology is a sign of its growing importance. It has the potential to transform virtually every industry. Entrepreneurs should act quickly to file a patent on blockchain technology before other companies do. They can benefit from the expertise of patent attorneys to protect their intellectual property rights and avoid costly patent litigations. They are also able to help with licensing and non-disclosure agreements.