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December 20, 2021updated 13 Jan 2022 9:15am

Retail banking industry companies are increasingly innovating in supply chain & logistics

By Emil Filipov

Research and innovation in supply chain & logistics in the major banks, central banks, and non-bank competitors sector is on the rise.

The most recent figures show that the number of supply chain and logistics patent applications in the industry stood at 27 in the three months ending October – up from 17 over the same period last year.

Figures for patent grants related to supply chain and logistics followed a different pattern to filings – shrinking from 30 in the three months ending October last year to 20 this year.

The figures are compiled by GlobalData, who track patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries.

Supply chain and logistics is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from.

The figures also provide an insight into the largest innovators in the sector.

Capital One Financial Corp was the top supply chain & logistics innovator in the major banks, central banks, and non-bank competitors sector in the last quarter. The company, which has its headquarters in the United States, filed 16 supply chain and logistics related patents in the three months ending October. That was up from eight over the same period last year.

It was followed by the United States based The Allstate Corp with 12 supply chain and logistics patent applications, the United States based Mastercard Inc (10 applications), and Belgium based KBC Group NV (4 applications).

The Allstate Corp has recently ramped up R&D in supply chain & logistics. It saw growth of 66.7% in related patent applications in the three months ending October compared to the same period last year - the highest percentage growth out of all companies tracked with more than 10 quarterly patents in the major banks, central banks, and non-bank competitors sector.

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