Research and innovation in fintech in the power industry operations and technologies sector has rebounded in the last quarter. The most recent figures show that the number of fintech related patent applications in the industry stood at 27 in the three months ending December – down from 49 over the same period in 2020.
Figures for patent grants related to fintech followed a similar pattern to filings – shrinking from 11 in the three months ending December 2020 to five in 2021.
The figures are compiled by GlobalData, which tracks 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.
Fintech 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.
Siemens AG was the top fintech innovator in the power industry operations and technologies sector in the last quarter. The company, which has its headquarters in Germany, filed 15 fintech related patents in the three months ending December. That was down from 32 over the same period last year.
It was followed by the South Korea-based Korea Electric Power Corp with eight fintech patent applications, the US-based 3M Co (2 applications), and the US-based Air Products and Chemicals Inc (1 applications).