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 Artificial intelligence in banking: automated collateral validation. 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.

Automated collateral validation is a key innovation area in artificial intelligence

Automated collateral validation refers to the process of using technology and algorithms to assess the value and reliability of collateral assets in various transactions. It involves the use of data analysis, machine learning, and other automated techniques to accurately determine the worth of assets and evaluate their suitability for collateral. By automating this process, financial institutions and lenders can streamline their operations, reduce manual effort, and make more informed decisions regarding collateral-based transactions.

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 70+ companies, spanning technology vendors, established banking companies, and up-and-coming start-ups engaged in the development and application of automated collateral validation.

Key players in automated collateral validation – 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 automated collateral validation

Company Total patents (2010 - 2022) Premium intelligence on the world's largest companies
Nant 278 Unlock Company Profile
Swirlds 92 Unlock Company Profile
Memjet Technology 82 Unlock Company Profile
Alibaba Group 71 Unlock Company Profile
Amazon.com 66 Unlock Company Profile
Capital One Financial 63 Unlock Company Profile
Wuhan Note Exchange Center 61 Unlock Company Profile
Palantir Technologies 49 Unlock Company Profile
MX Technologies 48 Unlock Company Profile
nChain 42 Unlock Company Profile
Huawei Investment & Holding 39 Unlock Company Profile
Trax Technology Solutions 38 Unlock Company Profile
Alphabet 36 Unlock Company Profile
Tencent 29 Unlock Company Profile
Liberty Media 27 Unlock Company Profile
Intel 27 Unlock Company Profile
Advanced New Technologies 27 Unlock Company Profile
TouchTunes Music 27 Unlock Company Profile
Meta Platforms 22 Unlock Company Profile
adidas 21 Unlock Company Profile
Toshiba 18 Unlock Company Profile
Mastercard 17 Unlock Company Profile
Evryx Acquisition 16 Unlock Company Profile
Healthy io 14 Unlock Company Profile
MoneyDesktop 13 Unlock Company Profile
Bank of America 11 Unlock Company Profile
NEC 10 Unlock Company Profile
Coinplug 9 Unlock Company Profile
TuneGO 7 Unlock Company Profile
Rakuten Group 7 Unlock Company Profile
Samsung Group 7 Unlock Company Profile
LG 7 Unlock Company Profile
Evryx Technologies 7 Unlock Company Profile
Snap 6 Unlock Company Profile
Masabi 5 Unlock Company Profile
Seven Group 5 Unlock Company Profile
LaterPay 5 Unlock Company Profile
JPMorgan Chase 5 Unlock Company Profile
Microsoft 5 Unlock Company Profile
Winklevoss 4 Unlock Company Profile
International Business Machines 4 Unlock Company Profile
Sony Group 4 Unlock Company Profile
China Investment 3 Unlock Company Profile
Walmart 3 Unlock Company Profile
Fingerprint Cards 3 Unlock Company Profile
Industrial and Commercial Bank of China 3 Unlock Company Profile
Anoto Group 3 Unlock Company Profile
SAP SE 3 Unlock Company Profile
Visa 3 Unlock Company Profile
Accenture 3 Unlock Company Profile

Source: GlobalData Patent Analytics

Capital One Financial is one of the leading innovators in collateral validation. The company provides a variety of lending products including auto loans, home loans, and commercial and consumer banking loans. It leverages AI-powered automation tools to determine the loan-to-value (LTV) ratio and validate underlying collateral and guarantees to secure exposures and optimize counterparty risk management before underwriting any collateral-based loans.

Nant, Swirlds, and Memjet Technology are some of the other leading patent filers in the collateral validation spacen terms of application diversity, Healthy io held the top position, while Fingerprint Cards and Memjet Technology stood in second and third positions, respectively. By means of geographic reach, Swirlds leads the pack, followed by Wuhan Note Exchange Center and MX Technologies.

To further understand the key themes and technologies disrupting the banking industry, access GlobalData’s latest thematic research report on Artificial Intelligence (AI) in Banking.

Data Insights

From

The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.

GlobalData

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.