As financial technology continues to take off at lightning speed, apparently so do fintech patent filings.

An analysis published Tuesday from London law firm EMW shows a drastic spike in global patent filings related to fintech in 2016 compared to 2015. Last year, the number of fintech filings totaled 9,545—500 more applications than the year prior.

The number of fintech patent filings was up by 49 percent from five years earlier in 2011, when there were 6,399 filings, according to EMW's research sourced from the World Intellectual Property Organization.

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