Cloud innovation in private banking has plummeted over the past year

Cloud research and innovation in private banking has declined over the past year.

The latest figures show that the number of related patent applications in the industry stood at 15 in the three months to February, compared to 82 in the same period in 2021.

Figures for patent grants related to have followed a different pattern from filings – falling from 16 in the three months ending February 2021 to 20 in the same period in 2022.

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 subject areas and linked to key companies in various industries.

is one of the key areas tracked by GlobalData. It has been identified as a key disruptive force that companies will face in the years to come, and it is one of the areas where companies currently investing resources should reap rewards.

The numbers also provide insight into the biggest innovators in the industry.

JPMorgan Chase & Co was the leading innovator in private banking over the past quarter. The US-headquartered company filed 12 related patents in the three months to February. This figure was down from 27 over the same period in 2021.

It was followed by US-based Bank of America Corp with nine patent applications, US-based Bank of New York Mellon Corp (6 applications) and Canada-based Toronto-Dominion Bank (6 applications) .

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