The Bank of Montreal has patented a system for digital document services, involving data extraction, storage, document generation, and electronic signature integration. The system utilizes OCR for information extraction and scanning systems for document digitization, streamlining document processing and transmission to target units. GlobalData’s report on Bank of Montreal gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Bank of Montreal, 3D memory devices was a key innovation area identified from patents. Bank of Montreal's grant share as of May 2024 was 71%. Grant share is based on the ratio of number of grants to total number of patents.
Digital document services system for data extraction and electronic signatures
A recently granted patent (Publication Number: US11995130B2) discloses a system that includes a processor and a non-transient data memory storage containing machine-readable instructions. These instructions enable the system to load and store data from various source systems at a data hub, generate a process computer model for digitizing documents, scan and extract information from documents using OCR, create a document package with the scanned data, transmit the package to a target unit, and store a modified version with electronic signatures. The system aims to streamline document digitization, storage, and transmission within an enterprise, reducing data sprawl and enhancing efficiency.
Additionally, the patent includes claims for a non-transitory machine-readable medium storing instructions that mirror the functionalities of the system described. These instructions facilitate the generation of a process computer model, scanning and extraction of document information, creation and transmission of document packages, and storage of electronic signature-modified versions. The system and machine-readable medium work in tandem to ensure seamless document management, including monitoring document changes, assigning access roles, and processing electronic signature events in real-time. By integrating scanning systems and electronic signature capabilities, the patented technology offers a comprehensive solution for document digitization and management, particularly beneficial for enterprises with complex document processing needs.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
