Hand in Hand: Patents and Technology – Steve Borsand
Steve Borsand, TT
Banks are now becoming technology companies; Everyone in our industry is becoming a technology company.
Technology has revolutionized banking. First, there was the option of entering a physical building and speaking with a teller to perform transactions. Then came drive-thru lanes for performing transactions in cars. Today, we can pick up a computer, tablet or a phone and perform transactions wherever and whenever we want.
Steve Borsand, EVP Intellectual Property for Trading Technologies, discusses the relationship between new technology and patents. Borsand says that patents have become a significant portion of a company’s value, and that companies are now filing more patents to protect their innovations. He notes that banks are especially filing several patents and explains how banks and other financial institutions are gradually turning into technology companies.
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