Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 92

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 92
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 audits and law enforcement enquiries, conducting internal investigations, and maintaining audit-tested risk and security certifications.  

To support these areas of focus, our risk and security team has developed a foundation resting on an appropriate governance and policy structure, robust and scalable security architecture and solutions, frequent internal training of FlyMates and an expansive and continuous cyber security and incident response framework. In addition, we have FlyMates in the compliance and risk management function located around the world where we have operations to address the needs of the business in real-time. 

Competition 

Our primary competition consists of legacy payment methods such as traditional bank wires provided by local, regional and global banks and money transfers from remittance companies. Other competitors include integrated payment providers focused on cross-border payments; B2B payments platforms; and vertical-specific software solutions offered by local niche players. 

We believe many legacy payment providers are hindered by limitations such as antiquated technology systems, insufficient solution and service offerings, poor user experiences, and unsatisfactory client and customer support. Our modern technology stack, combined with our innovative and flexible suite of solutions, addresses many of the issues that clients face today, including: 

•friction in client and customer experiences; 

•lack of a scaled global network; 

•limited software and payments offerings; 

•inability to adapt to new technology; and 

•unsophisticated fraud prevention and risk management tools. 

We believe that we compete favorably on the basis of these factors. 

Intellectual Property 

We protect our intellectual property through a combination of trademark, copyright, and trade secret laws, as well as confidentiality procedures and contractual restrictions, to establish and protect our proprietary rights both domestically and abroad. These laws, procedures and restrictions provide only limited protection. We endeavor to enter into agreements with our FlyMates, consultants and contractors and with parties with whom we do business in order to acquire intellectual 

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property rights developed as a result of service to Flywire, as well as to limit access to and disclosure of our proprietary information. 

We actively pursue registration of our trademarks, logos, service marks, trade dress, and domain names in the United States and in other jurisdictions. As of December 31, 2024, we had 122 registered trademarks and trademark applications, and were the registered holder of a variety of U.S. and international domain names. 

From time to time, we also incorporate certain intellectual property licensed from third parties. Even if any such third-party technology was not available to us on commercially reasonable terms,