As with other rapidly-evolving technologies, the FinTech space is experiencing a frenzy of patent activity. As its name implies, FinTech is part financial innovation (“fin”) relating to new aspects of finance and finance-related business models, and part technological innovation (“tech”) relating to the application of, and enhancements to, technology that enables the fin-related innovations. Unfortunately, this mixing of innovation often results in difficulties in obtaining patent protection under the USPTO’s ever-evolving tests for patent-eligible subject matter. Many patent applications for fin-related innovations are rejected by the USPTO as being an abstract idea or merely a business method implemented on a computer, both of which are deemed to not constitute patent-ineligible subject matter under the current USPTO guidance. Patent applications that focus on providing specific technical solutions to specific technical problems in the FinTech space often avoid these rejections. However, in some cases, patents that are limited to a specific technical solution can be designed around with an alternative technical solution. And often they do not capture the fin part of FinTech innovation.

For insights on obtaining FinTech patents, please review our Flipbook.