Bank of America has been granted a patent for a system that enhances component-level detection in third-party software applications. The system utilizes machine learning to analyze application data, build a software bill of materials (SBOM), identify vulnerabilities, and automate mitigation actions. GlobalData’s report on Bank of America 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 America, Virtual banking assistant was a key innovation area identified from patents. Bank of America's grant share as of July 2024 was 83%. Grant share is based on the ratio of number of grants to total number of patents.
Component-level detection and vulnerability management in software applications
The patent US12073209B2 outlines a system designed for enhanced component-level detection in software applications. This system integrates a non-transitory storage device and a processor that collaborates with an application ingestion subsystem and a machine learning subsystem. The process begins with the reception of data packets from a client device, which contain requests to onboard a specific application into a computing environment. The system then determines relevant information about the application and trains a machine learning model using known data from various applications and their components. Once trained, the model is deployed to identify components associated with the new application, build a software bill of materials (SBOM), and assess potential vulnerabilities through a dedicated scanning engine. The system can also retrieve and execute mitigation actions for identified vulnerabilities.
Additionally, the patent details methods for dynamically generating scanning instructions and executing them to further refine the detection process. The elements identified can include package managers, manifest files, source code, and other software artifacts. The system is designed to initiate vulnerability scans on the SBOM and to ingest known information about applications and their components, enhancing the accuracy and efficiency of the detection process. Overall, the patent presents a comprehensive approach to improving software application security through advanced detection and mitigation strategies.
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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.
