The global financialservices industry experienced an 11% decline in the number of cybersecurity-related patent applications in Q3 2022 compared with the previous quarter. The total number of cybersecurity-related grants dropped by 8% in Q3 2022, according to GlobalData’s whitepaper on Cybersecurity in Banking & Payments – Patenting Activity in Q3 2022.
Notably, the number of cybersecurity-related patent applications in the financialservices industry was 1,757 in Q3 2022, versus 1,977 in the prior quarter.
Analysis of patenting activity by companies shows that China Investment filed the most cybersecurity patents within the financialservices industry in Q3 2022. The company filed 180 cybersecurity-related patents in the quarter, compared with 1 in the previous quarter. It was followed by Visa with 74 cybersecurity patent filings, Capital One Financial (51 filings), and Mastercard (26 filings) in Q3 2022.
The largest share of cybersecurity related patent filings in the financialservices industry in Q3 2022 was in the US with 35%, followed by China (32%) and Japan (4%). The share represented by the US was 1% higher than the 34% share it accounted for in Q2 2022.