In the recently published 2019 Global Banking Patents Rankings by IPRdaily, WeBank, a world leading digital bank, has jumped from the fifth place (2018 Rankings) to top this year’s rankings with 632 filed patents.
Among all patents WeBank filed in 2019, 80% of them related to ABCD technologies (AI, Blockchain, Cloud Computing, Big Data).
In terms of AI, WeBank constructs a technology-driven financial ecosystem with advanced technologies of federated learning, new generation of human-computer interaction, AI marketing and AI asset management. Its AI patents cover federated learning, NLP/Intelligent Speech, machine learning, advertising/recommendation tech, computer vision, and more. When it comes to blockchain, WeBank has a complete set of open source consortium chain infrastructure, middleware and solutions with patents of algorithm, privacy protection, cross-chain tech, etc.. According to a recent report from the Block, WeBank filed the third most blockchain patents globally in 2019. It is also the only bank on the top 10.
Recommended AI News: Zoom Finally Adds Encryption To Secure Meeting Data And Resistance Against Tampering
An increasing number of patents filed indicates the banking industry’s growing fintech capabilities. Rather than build a heavily guarded fortress with those capabilities, WeBank determines to empower developers with open source fintech in a collaborative ecosystem. In 2019, WeBank announced the open source fintech strategy that targets to collaborate with developers around the world. So far, it has brought out dozens of successful open source projects, such as FATE (Federated AI Technology Enabler), FISCO BCOS (consortium chain platform built together with FISCO open source taskforce team) and open-source big data platform suite WeDataSphere.