23 October 2017Trademarks

Fintech trademarks on the rise, UKIPO figures show

An increase in trademarks registered by financial services companies has probably been fuelled by a rise in technology developments and the fintech market, a professional services firm has claimed.

According to UK-based RPC, there has been a 35% increase in the number of trademarks registered by financial services firms—from 3,141 in 2011 to 4,228 last year.

RPC said the UK’s financial services sector had already been an active area for trademarks but that investment in fintech (financial technology) over the last few years, from established institutions and start-ups, has led to a sharp rise in new services that need protection.

The firm said companies are trying to differentiate themselves by creating marks for individual products or for suites of products.

Examples of trademarks registered last year include ‘Zentity: a touch of innovation’, registered by digital banking platform Zentity, while peer-to-peer lender Bondora trademarked ‘Bondora just takes a minute to beat your bank’.

Paul Joseph, partner at RPC, said: “Financial services businesses collectively are pouring hundreds of millions into promoting new products and services. That investment needs to be protected through registering trademarks.”

The figures are based on data obtained from the UK Intellectual Property Office.

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