17th April 2020

Accelerated Adoption of Mobile Banking

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The US lags behind Europe in the adoption of mobile banking and challenger bank activity but still represent a material growth opportunity. Owning close to 40% of total granted patents in mobile banking – who are the other key players driving this space?

Key findings

  • The US lags Europe in adoption of mobile banking but represents material growth opportunity
  • USAA – the first US bank to offer smartphone check deposit with the largest patent portfolio is US
  • Leading patent holders in Europe and US markets range from Computing/Software industries to Electronics and Semiconductor

Close to 40% of total granted patents in mobile banking are now registered in the US

38% of total granted patents in mobile banking are registered in the US. This points to the major market opportunity that exists in the US and the push by companies to protect their invention rights there.

Mobile patent landscape map

The COVID-19 effect is seeing an accelerated adoption of mobile banking, and challenger bank activity is increasing. Although the pace is slower than in Europe, US based challengers include Chime and Varo Money and the Europeans are moving in – Revolut, Monzo and N26 for example.

The leading patent holders in the key Europe and US markets range across the Computing/Software, Financial Services, Electronics, Telecoms and Semiconductor industries

Bank of America and IBM stand out as having the leading patent portfolios across mobile banking in the US. In Europe the patent landscape is dominated by tech firms.

Map showing the global locations for mobile patents


Remote deposit capture: USAA the first US bank to offer smartphone check deposit remains largest US patent holder

USAA is well known as the company that offers banking, insurance and financial services to people and families who serve or have served in the US Armed Forces. USAA was the first bank to provide the ability to deposit checks with a smartphone, that was over 10 years ago in 2009.

Remote Deposit Capture: US, active patent families by organisation


Further information

To find out who the key players and emerging technologies are in the mobile banking space download our report now. If you’d like to learn about how Cipher has generated this Competitive Intelligence insight, get in touch directly.

Download ‘Mobile Banking’ PDF


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