Fintech Case Study – Plaid Visa Acquisition

FinTech Patent Attorney

Plaid is a Fintech company providing technology layer for financial services that has been acquired by Visa in January 2020. Visa has announced that it has acquired Plaid for $5.3 billion. Plaid provides API for financial services as a technology layer in the Fintech space.

Financial Technology Innovations

Financial technology or Fintech refers to the use of technology in an innovative way designed for the delivery of financial services. The main aim of Financial Technology is to compete with traditional financial methods in the delivery of financial services. Financial Technology is the latest technology disruption used  by multinational companies, businessmen and consumers so that they can perform their financial operations in a better way with the help of specialized software and algorithms which are mostly used on computers and smartphones.

From industry perspective, Fintech includes advancement in financial literacy and education to make wealth management more efficient and effective by applying faster and simpler working method. It also includes technological innovation in lending and borrowing, retail banking, fund raising, money transfer/payments and investment management.

Banking Technology

SBI mobile banking and Bank of India mobile banking are some of the famous apps which are used mostly by customer for banking transactions. API Banking which stands for Application Programming Interface helps banking sector in securely integrating with corporate clients through ERP system. Yes Bank is the first bank in the Indian history which digitized the B2B supply chain with the launch of  “Application Programming Interface” (API) banking service.

Application Programming Interface

With the help of API, banks provide instant payment and collection services to the consumers. Application Programming Interface, or API by banks is used for payment of salary to employee of an organization, vendor payments, Foreign Inward Remittances, lump sum cash collection, and the like. API for banks is also useful for invoicing and bill management and loan disbursements.

FinTech Patents

Innovative financial technology solutions are protected by way of patents to develop a strong patent portfolio that helps to attain exclusivity with technology dominance in the marketplace.

FinTech Patent Attorney

Patent attorneys work with clients to ensure FinTech patent protection by offering combination of technical and legal expertise. Clients gain significant edge by extending the value of their patent portfolio as part of an overall patent strategy.  Patent lawyers work closely with inventors to develop a deep understanding of each technological advance.

The patent expertise also covers reviewing new ideas for technical and commercial context more quickly. As a first step, it is important to conduct patent prior art search to identify potential features of novelty. It is further crucial to determine how a competitor might attempt to circumvent or infringe the patent claims more easily in order to defend against the new innovations protected by patent claims.

Patent Protection

Patent owners fully understand that patent protection is important and publication of research papers needs to be resisted until a patent application has been filed. As per law, prior publication without patent filing may adversely affect the ability to obtain patent rights.

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