Why Banks are Filing Patents Aggressively

US banks are racing to file patents as they feel compelled to improve technical infrastructure, develop robust security measures, and enhance customer experience, leading to the emergence of many fintech products and services. Banks are filing patents for their new technologies and have various reasons to continue the development path. However, why are they filing patents, how do they plan to use these patents, and what is their future strategy in patent filing? These are some of the questions this report attempts to answer.