How is fintech innovation progressing in the ship industry?

Research and innovation in fintech in the ship equipment supply, product, and services sector has stagnated in the last quarter.

The most recent figures show that the number of fintech-related patent applications in the industry stood at eight in the three months ending March – the same as eight over the same period in 2021.

Figures for patent grants related to fintech followed a different pattern to filings – growing from three in the three months ending March 2021 to nine 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 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.

FedEx was the top fintech innovator in the ship equipment supply, product, and services sector in the latest quarter. The company, which has its headquarters in the US, filed four fintech-related patents in the three months ending March. That was up from one over the same period in 2021.

It was followed by the US-based Uber Technologies with two fintech patent applications, China-based COSCO Shipping Holdings (one application), and the US-based United Parcel Service (one application).